Short Interest in Orthofix Medical Inc. (NASDAQ:OFIX) Declines By 33.9%

Orthofix Medical Inc. (NASDAQ:OFIX - Get Free Report) was the target of a significant decrease in short interest in November. As of November 15th, there was short interest totalling 1,660,000 shares, a decrease of 33.9% from the October 31st total of 2,510,000 shares. Based on an average daily volume of 262,800 shares, the days-to-cover ratio is presently 6.3 days.

Orthofix Medical Stock Up 2.1 %

NASDAQ:OFIX traded up $0.40 on Friday, reaching $19.53. 148,129 shares of the stock traded hands, compared to its average volume of 365,960. The company's fifty day simple moving average is $16.92 and its 200 day simple moving average is $15.82. The company has a market capitalization of $746.24 million, a price-to-earnings ratio of -6.24 and a beta of 1.05. Orthofix Medical has a 12 month low of $10.28 and a 12 month high of $20.73. The company has a current ratio of 2.39, a quick ratio of 1.11 and a debt-to-equity ratio of 0.25.

Institutional Investors Weigh In On Orthofix Medical

Several large investors have recently bought and sold shares of the business. State Board of Administration of Florida Retirement System grew its stake in shares of Orthofix Medical by 34.7% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 13,562 shares of the medical device company's stock valued at $197,000 after purchasing an additional 3,490 shares during the period. Vanguard Group Inc. increased its holdings in Orthofix Medical by 0.5% during the first quarter. Vanguard Group Inc. now owns 2,008,816 shares of the medical device company's stock valued at $29,168,000 after buying an additional 9,150 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in Orthofix Medical by 3.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 32,957 shares of the medical device company's stock worth $479,000 after acquiring an additional 1,236 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Orthofix Medical by 6.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 143,772 shares of the medical device company's stock worth $1,906,000 after acquiring an additional 9,118 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Orthofix Medical by 25.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,435 shares of the medical device company's stock valued at $125,000 after acquiring an additional 1,919 shares during the period. 89.76% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on OFIX shares. Stifel Nicolaus upgraded shares of Orthofix Medical from a "hold" rating to a "buy" rating and boosted their target price for the company from $18.00 to $24.00 in a report on Friday, November 8th. Roth Mkm reissued a "buy" rating and set a $22.00 price objective (up previously from $20.00) on shares of Orthofix Medical in a research note on Friday, November 8th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $23.00.

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.