Orthofix Medical (NASDAQ:OFIX) Stock Price Expected to Rise, Barrington Research Analyst Says

Orthofix Medical (NASDAQ:OFIX) had its price target increased by equities research analysts at Barrington Research from $15.00 to $17.00 in a report issued on Monday,Benzinga reports. The firm currently has an “outperform” rating on the medical device company’s stock. Barrington Research’s price objective points to a potential upside of 47.63% from the company’s current price.

Several other analysts have also recently issued reports on OFIX. Wall Street Zen cut Orthofix Medical from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. TD Cowen reaffirmed a “hold” rating on shares of Orthofix Medical in a research note on Thursday, May 21st. Canaccord Genuity Group decreased their price objective on shares of Orthofix Medical from $20.00 to $18.00 and set a “buy” rating for the company in a report on Thursday, May 21st. Stifel Nicolaus lowered their target price on Orthofix Medical from $18.00 to $15.00 and set a “buy” rating for the company in a report on Friday, May 22nd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Orthofix Medical in a research report on Tuesday, April 21st. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Orthofix Medical has an average rating of “Hold” and an average target price of $16.00.

Orthofix Medical Stock Up 15.8%

NASDAQ OFIX traded up $1.57 during trading hours on Monday, reaching $11.52. 384,391 shares of the company’s stock traded hands, compared to its average volume of 328,402. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.87 and a quick ratio of 1.76. The firm has a market cap of $465.44 million, a PE ratio of -7.56 and a beta of 0.71. The firm has a 50-day simple moving average of $10.51 and a 200 day simple moving average of $12.34. Orthofix Medical has a 52-week low of $8.85 and a 52-week high of $16.99.

Orthofix Medical (NASDAQ:OFIX) last announced its quarterly earnings results on Tuesday, May 5th. The medical device company reported ($0.52) earnings per share for the quarter, beating the consensus estimate of ($0.68) by $0.16. The company had revenue of $196.71 million during the quarter, compared to the consensus estimate of $196.40 million. Orthofix Medical had a negative net margin of 7.27% and a negative return on equity of 13.44%. Sell-side analysts anticipate that Orthofix Medical will post -1.48 EPS for the current fiscal year.

Insider Activity

In related news, Director John B. Henneman III purchased 5,000 shares of Orthofix Medical stock in a transaction on Thursday, May 7th. The shares were bought at an average price of $12.26 per share, with a total value of $61,300.00. Following the transaction, the director directly owned 90,809 shares of the company’s stock, valued at approximately $1,113,318.34. This trade represents a 5.83% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jorge Andres Cedron sold 3,743 shares of the company’s stock in a transaction that occurred on Thursday, April 16th. The shares were sold at an average price of $12.82, for a total value of $47,985.26. Following the completion of the transaction, the insider directly owned 59,006 shares of the company’s stock, valued at $756,456.92. This trade represents a 5.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders bought 189,896 shares of company stock worth $2,293,970. 2.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Kestra Advisory Services LLC acquired a new stake in Orthofix Medical in the fourth quarter valued at $56,000. CWM LLC grew its holdings in shares of Orthofix Medical by 136.4% during the fourth quarter. CWM LLC now owns 4,538 shares of the medical device company’s stock worth $69,000 after buying an additional 2,618 shares in the last quarter. Strs Ohio acquired a new position in Orthofix Medical in the 1st quarter valued at $150,000. Mackenzie Financial Corp acquired a new position in shares of Orthofix Medical during the 3rd quarter valued at about $148,000. Finally, Diversified Trust Co. purchased a new position in Orthofix Medical during the fourth quarter worth approximately $159,000. Institutional investors and hedge funds own 89.76% of the company’s stock.

About Orthofix Medical

Orthofix Medical Inc (NASDAQ: OFIX) is a global medical device company focused on the design and development of innovative orthopedic and spinal solutions. The company’s core business is divided into two segments: spine and orthopedics. In the spine segment, Orthofix offers a range of titanium implants, biologics and portable bone growth stimulation devices designed to support spinal fusion, deformity correction and minimally invasive procedures. Its orthopedic segment encompasses products for fracture fixation, external fixation systems, trauma care and sports medicine, providing surgeons with implantable devices and instruments for complex bone reconstruction and healing.

Orthofix’s product portfolio includes strut systems, bone growth stimulators, interbody fusion devices and fixation hardware that address various indications such as degenerative disc disease, spinal deformities, non-unions and long-bone fractures.