Short Interest in Orthofix Medical Inc. (NASDAQ:OFIX) Declines By 26.8%

Orthofix Medical Inc. (NASDAQ:OFIX - Get Free Report) saw a large drop in short interest in the month of January. As of January 15th, there was short interest totalling 790,300 shares, a drop of 26.8% from the December 31st total of 1,080,000 shares. Based on an average daily trading volume, of 255,400 shares, the short-interest ratio is presently 3.1 days.

Orthofix Medical Stock Performance

Shares of NASDAQ:OFIX traded up $0.41 during midday trading on Tuesday, hitting $18.61. The stock had a trading volume of 106,167 shares, compared to its average volume of 189,034. The company has a market capitalization of $711.20 million, a PE ratio of -5.94 and a beta of 1.10. The stock has a 50 day moving average price of $18.05 and a two-hundred day moving average price of $17.11. The company has a current ratio of 2.39, a quick ratio of 1.11 and a debt-to-equity ratio of 0.25. Orthofix Medical has a 1 year low of $12.08 and a 1 year high of $20.73.

Orthofix Medical (NASDAQ:OFIX - Get Free Report) last issued its 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 during the quarter, compared to analysts' expectations of $196.60 million. Orthofix Medical had a negative net margin of 15.18% and a negative return on equity of 21.25%. During the same period in the previous year, the firm earned ($0.77) EPS. As a group, equities analysts predict that Orthofix Medical will post -2.81 earnings per share for the current fiscal year.

Insider Buying and Selling at Orthofix Medical

In other news, CEO Massimo Calafiore sold 10,078 shares of the firm's stock in a transaction on Friday, January 10th. The shares were sold at an average price of $16.83, for a total value of $169,612.74. Following the sale, the chief executive officer now directly owns 133,354 shares in the company, valued at approximately $2,244,347.82. This trade represents a 7.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Julie Andrews sold 4,655 shares of the firm's stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $17.89, for a total transaction of $83,277.95. Following the completion of the sale, the chief financial officer now owns 28,312 shares in the company, valued at $506,501.68. The trade was a 14.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 24,675 shares of company stock valued at $423,238 in the last 90 days. Company insiders own 2.60% of the company's stock.

Institutional Trading of Orthofix Medical

Institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC raised its position in 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 worth $13,111,000 after acquiring an additional 11,559 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Orthofix Medical by 14.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 324,807 shares of the medical device company's stock worth $5,073,000 after acquiring an additional 39,901 shares during the last quarter. Algert Global LLC raised its position in Orthofix Medical by 25.6% during the third quarter. Algert Global LLC now owns 214,445 shares of the medical device company's stock worth $3,350,000 after acquiring an additional 43,753 shares during the last quarter. Marshall Wace LLP acquired a new position in Orthofix Medical during the second quarter worth about $2,193,000. Finally, Barclays PLC raised its position in Orthofix Medical by 38.8% during the third quarter. Barclays PLC now owns 122,472 shares of the medical device company's stock worth $1,912,000 after acquiring an additional 34,210 shares during the last quarter. Hedge funds and other institutional investors own 89.76% of the company's stock.

Analyst Upgrades and Downgrades

OFIX has been the topic of several research analyst reports. StockNews.com upgraded shares of Orthofix Medical from a "hold" rating to a "buy" rating in a research note on Friday. Canaccord Genuity Group assumed coverage on shares of Orthofix Medical in a research report on Wednesday, January 22nd. They set a "buy" rating and a $24.00 price objective on the stock. Roth Mkm reissued a "buy" rating and set a $22.00 price objective (up from $20.00) on shares of Orthofix Medical in a research report on Friday, November 8th. Finally, Stifel Nicolaus raised shares of Orthofix Medical from a "hold" rating to a "buy" rating and raised their price objective for the stock from $18.00 to $24.00 in a research report on Friday, November 8th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $23.33.

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.