Orthofix Medical Inc. (NASDAQ:OFIX) Receives $23.33 Average PT from Brokerages

Orthofix Medical Inc. (NASDAQ:OFIX - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the five analysts that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $23.33.

OFIX has been the subject of a number of research analyst reports. Canaccord Genuity Group reiterated a "buy" rating and set a $24.00 price target on shares of Orthofix Medical in a research report on Wednesday, February 26th. StockNews.com upgraded shares of Orthofix Medical from a "hold" rating to a "buy" rating in a research report on Tuesday, February 25th. Finally, Roth Mkm reissued a "buy" rating and issued a $22.00 price target on shares of Orthofix Medical in a report on Wednesday, February 26th.

Orthofix Medical Price Performance

NASDAQ:OFIX traded down $0.25 during trading hours on Monday, hitting $13.67. 240,294 shares of the company's stock traded hands, compared to its average volume of 261,077. Orthofix Medical has a 52 week low of $12.08 and a 52 week high of $20.73. The business's fifty day simple moving average is $16.77 and its two-hundred day simple moving average is $17.23. The company has a quick ratio of 1.11, a current ratio of 2.39 and a debt-to-equity ratio of 0.25. The firm has a market cap of $533.43 million, a P/E ratio of -4.37 and a beta of 0.99.

Insider Buying and Selling

In other news, CFO Julie Andrews sold 4,655 shares of the firm's stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $17.89, for a total transaction of $83,277.95. Following the transaction, the chief financial officer now directly owns 28,312 shares of the company's stock, valued at approximately $506,501.68. This trade represents a 14.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Lucas Vitale sold 4,287 shares of Orthofix Medical stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $16.60, for a total value of $71,164.20. Following the completion of the transaction, the insider now owns 135,317 shares in the company, valued at approximately $2,246,262.20. This represents a 3.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,511 shares of company stock worth $335,827 in the last quarter. 2.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Orthofix Medical

A number of large investors have recently bought and sold shares of the stock. GAMMA Investing LLC grew its holdings in shares of Orthofix Medical by 1,585.1% in the first quarter. GAMMA Investing LLC now owns 22,867 shares of the medical device company's stock worth $373,000 after purchasing an additional 21,510 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Orthofix Medical by 14.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 71,371 shares of the medical device company's stock valued at $1,246,000 after buying an additional 8,772 shares during the period. Soleus Capital Management L.P. grew its holdings in Orthofix Medical by 13.1% in the 4th quarter. Soleus Capital Management L.P. now owns 686,374 shares of the medical device company's stock worth $11,984,000 after acquiring an additional 79,441 shares during the last quarter. State of Wyoming increased its position in shares of Orthofix Medical by 206.8% in the fourth quarter. State of Wyoming now owns 9,432 shares of the medical device company's stock valued at $165,000 after acquiring an additional 6,358 shares during the period. Finally, OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Orthofix Medical by 14.8% during the fourth quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 97,461 shares of the medical device company's stock valued at $1,702,000 after acquiring an additional 12,578 shares during the last quarter. 89.76% of the stock is owned by hedge funds and other institutional investors.

Orthofix Medical Company Profile

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.