Brokerages Set Orthofix Medical Inc. (NASDAQ:OFIX) Price Target at $16.00

Shares of Orthofix Medical Inc. (NASDAQ:OFIX) have been assigned a consensus recommendation of “Hold” from the five brokerages that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $16.00.

Several equities analysts recently commented on the stock. TD Cowen reaffirmed a “hold” rating on shares of Orthofix Medical in a research report on Thursday, May 21st. Stifel Nicolaus decreased their price target on shares of Orthofix Medical from $18.00 to $15.00 and set a “buy” rating on the stock in a report on Friday, May 22nd. Wall Street Zen cut shares of Orthofix Medical from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Canaccord Genuity Group dropped their price objective on Orthofix Medical from $20.00 to $18.00 and set a “buy” rating for the company in a report on Thursday, May 21st. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Orthofix Medical in a research report on Friday, July 17th.

Insiders Place Their Bets

In other news, Director John B. Henneman III purchased 5,000 shares of the company’s stock in a transaction on Thursday, May 7th. The stock was bought at an average cost of $12.26 per share, for a total transaction of $61,300.00. Following the completion of the purchase, the director directly owned 90,809 shares of the company’s stock, valued at $1,113,318.34. The trade was a 5.83% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Engine Capital Management, Lp acquired 30,000 shares of Orthofix Medical stock in a transaction dated Thursday, May 7th. The stock was purchased at an average cost of $12.18 per share, for a total transaction of $365,400.00. Following the completion of the purchase, the insider directly owned 3,848,573 shares in the company, valued at approximately $46,875,619.14. This represents a 0.79% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought 189,896 shares of company stock worth $2,293,970 over the last three months. 2.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. AQR Capital Management LLC increased its position in shares of Orthofix Medical by 67.7% in the first quarter. AQR Capital Management LLC now owns 20,409 shares of the medical device company’s stock worth $333,000 after acquiring an additional 8,241 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Orthofix Medical by 6.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,561 shares of the medical device company’s stock valued at $335,000 after acquiring an additional 1,213 shares during the period. Jane Street Group LLC acquired a new position in shares of Orthofix Medical during the 1st quarter valued at $1,076,000. Strs Ohio acquired a new position in shares of Orthofix Medical during the 1st quarter valued at $150,000. Finally, JPMorgan Chase & Co. boosted its position in Orthofix Medical by 15.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 193,549 shares of the medical device company’s stock worth $2,158,000 after purchasing an additional 26,123 shares during the period. 89.76% of the stock is owned by institutional investors and hedge funds.

Orthofix Medical Stock Up 0.1%

Shares of NASDAQ:OFIX opened at $11.80 on Tuesday. The company has a current ratio of 2.87, a quick ratio of 1.76 and a debt-to-equity ratio of 0.54. The firm has a market cap of $476.96 million, a price-to-earnings ratio of -7.81 and a beta of 0.71. The stock’s 50-day moving average price is $10.38 and its two-hundred day moving average price is $11.83. Orthofix Medical has a 12-month low of $8.85 and a 12-month high of $16.99.

Orthofix Medical (NASDAQ:OFIX) last posted its quarterly earnings data on Tuesday, May 5th. The medical device company reported ($0.52) EPS for the quarter, beating analysts’ consensus estimates 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%. On average, research analysts forecast that Orthofix Medical will post -1.4 EPS for the current year.

Orthofix Medical Company Profile

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.