Orthofix Medical (NASDAQ:OFIX) Earns Outperform Rating from Barrington Research

Orthofix Medical (NASDAQ:OFIX)‘s stock had its “outperform” rating reissued by Barrington Research in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $18.00 target price on the medical device company’s stock. Barrington Research’s price objective suggests a potential upside of 34.53% from the company’s previous close.

OFIX has been the topic of a number of other reports. TD Cowen began coverage on Orthofix Medical in a report on Tuesday, January 27th. They set a “hold” rating and a $14.00 price objective on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Orthofix Medical in a research report on Thursday, January 22nd. Finally, Stifel Nicolaus assumed coverage on Orthofix Medical in a research note on Tuesday, October 28th. They issued a “buy” rating and a $22.00 price target on the stock. Four equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $20.00.

Orthofix Medical Trading Up 0.8%

Shares of Orthofix Medical stock opened at $13.38 on Tuesday. Orthofix Medical has a 52-week low of $10.24 and a 52-week high of $20.48. The firm has a market capitalization of $529.85 million, a PE ratio of -4.42 and a beta of 0.78. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.47 and a quick ratio of 1.38. The company’s fifty day moving average price is $14.47 and its two-hundred day moving average price is $14.65.

Insiders Place Their Bets

In related news, CEO Massimo Calafiore sold 9,797 shares of Orthofix Medical stock in a transaction dated Monday, January 12th. The stock was sold at an average price of $15.21, for a total value of $149,012.37. Following the completion of the transaction, the chief executive officer directly owned 217,237 shares of the company’s stock, valued at $3,304,174.77. The trade was a 4.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Julie Andrews sold 4,873 shares of the stock in a transaction dated Friday, January 16th. The stock was sold at an average price of $14.38, for a total transaction of $70,073.74. Following the sale, the chief financial officer directly owned 58,039 shares in the company, valued at approximately $834,600.82. This represents a 7.75% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 24,270 shares of company stock valued at $370,958 over the last ninety days. Insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Orthofix Medical

A number of large investors have recently modified their holdings of OFIX. AYAL Capital Advisors Ltd lifted its holdings in Orthofix Medical by 74.7% during the 2nd quarter. AYAL Capital Advisors Ltd now owns 943,203 shares of the medical device company’s stock worth $10,517,000 after buying an additional 403,433 shares in the last quarter. Squarepoint Ops LLC raised its position in shares of Orthofix Medical by 515.6% during the second quarter. Squarepoint Ops LLC now owns 117,666 shares of the medical device company’s stock worth $1,312,000 after acquiring an additional 98,552 shares during the last quarter. Engine Capital Management LP lifted its stake in shares of Orthofix Medical by 13.6% during the second quarter. Engine Capital Management LP now owns 4,251,671 shares of the medical device company’s stock valued at $47,406,000 after acquiring an additional 510,281 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Orthofix Medical in the second quarter valued at about $147,000. Finally, Geode Capital Management LLC increased its position in Orthofix Medical by 7.5% in the second quarter. Geode Capital Management LLC now owns 930,252 shares of the medical device company’s stock worth $10,374,000 after purchasing an additional 64,788 shares during the period. 89.76% of the stock is currently owned by institutional investors and hedge funds.

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.