Orthofix Medical (NASDAQ:OFIX) Now Covered by Analysts at Canaccord Genuity Group

Canaccord Genuity Group assumed coverage on shares of Orthofix Medical (NASDAQ:OFIX - Free Report) in a research report sent to investors on Wednesday morning, MarketBeat Ratings reports. The brokerage issued a buy rating and a $24.00 target price on the medical device company's stock.

OFIX has been the subject of several other research reports. Stifel Nicolaus upgraded Orthofix Medical from a "hold" rating to a "buy" rating and raised their target price for the stock from $18.00 to $24.00 in a research note on Friday, November 8th. Roth Mkm reiterated a "buy" rating and set a $22.00 price target (up previously from $20.00) on shares of Orthofix Medical in a research report on Friday, November 8th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Orthofix Medical presently has a consensus rating of "Moderate Buy" and an average target price of $23.33.

Orthofix Medical Stock Performance

Shares of OFIX stock traded up $0.02 on Wednesday, hitting $18.38. 186,280 shares of the stock were exchanged, compared to its average volume of 229,383. The company has a current ratio of 2.39, a quick ratio of 1.11 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $702.37 million, a PE ratio of -5.87 and a beta of 1.10. Orthofix Medical has a one year low of $12.08 and a one year high of $20.73. The firm's 50 day moving average is $18.07 and its two-hundred day moving average is $16.92.

Orthofix Medical (NASDAQ:OFIX - Get Free Report) last posted its quarterly earnings results on Thursday, November 7th. The medical device company reported ($0.71) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.57). The firm had revenue of $196.61 million for the quarter, compared to the consensus estimate of $196.60 million. Orthofix Medical had a negative return on equity of 21.25% and a negative net margin of 15.18%. During the same quarter in the previous year, the company posted ($0.77) EPS. Sell-side analysts expect that Orthofix Medical will post -2.81 earnings per share for the current fiscal year.

Insider Activity

In other Orthofix Medical news, CEO Massimo Calafiore sold 9,203 shares of Orthofix Medical stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $17.14, for a total value of $157,739.42. Following the transaction, the chief executive officer now directly owns 124,151 shares of the company's stock, valued at $2,127,948.14. The trade was a 6.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Julie Andrews sold 4,655 shares of Orthofix Medical stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $17.89, for a total value of $83,277.95. Following the completion of the transaction, the chief financial officer now directly owns 28,312 shares in the company, valued at $506,501.68. This trade represents a 14.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 24,675 shares of company stock worth $423,238. 2.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Orthofix Medical

A number of large investors have recently bought and sold shares of the stock. SG Americas Securities LLC increased its stake in Orthofix Medical by 24.3% in the 4th quarter. SG Americas Securities LLC now owns 21,279 shares of the medical device company's stock worth $372,000 after purchasing an additional 4,162 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Orthofix Medical by 480.7% during the third quarter. JPMorgan Chase & Co. now owns 84,379 shares of the medical device company's stock valued at $1,318,000 after buying an additional 69,848 shares during the period. Franklin Resources Inc. increased its stake in shares of Orthofix Medical by 37.4% during the third quarter. Franklin Resources Inc. now owns 20,960 shares of the medical device company's stock valued at $337,000 after buying an additional 5,702 shares during the period. Geode Capital Management LLC increased its stake in shares of Orthofix Medical by 1.4% during the third quarter. Geode Capital Management LLC now owns 839,189 shares of the medical device company's stock valued at $13,111,000 after buying an additional 11,559 shares during the period. Finally, Barclays PLC increased its stake in shares of Orthofix Medical by 38.8% during the third quarter. Barclays PLC now owns 122,472 shares of the medical device company's stock valued at $1,912,000 after buying an additional 34,210 shares during the period. 89.76% of the stock is owned by hedge funds and other institutional investors.

About Orthofix Medical

Orthofix Medical Inc operates as a spine and orthopedics company in the United States, Italy, Germany, the United Kingdom, France, Brazil, and internationally. It operates through two segments, Global Spine and Global Orthopedics. The Global Spine segment manufactures and distributes bone growth stimulator devices for enhance of bone fusion, including adjunctive and noninvasive treatment of cervical and lumbar spine, as well as a therapeutic treatment for non-spine; designs, develops, and markets a portfolio of motion preservation and fixation implant products, which are used in surgical procedures of the spine; and offers biological products, such as fiber-based and particulate demineralized bone matrices, cellular bone allografts, collagen ceramic matrices, and synthetic bone void fillers, and tissue forms, which allow physicians to treat various spinal and orthopedic conditions.