Orthofix Medical (NASDAQ:OFIX) Reaches New 1-Year High - Still a Buy?

Orthofix Medical Inc. (NASDAQ:OFIX - Get Free Report)'s share price reached a new 52-week high on Monday . The stock traded as high as $20.00 and last traded at $19.95, with a volume of 412106 shares. The stock had previously closed at $19.41.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Stifel Nicolaus upgraded shares of Orthofix Medical from a "hold" rating to a "buy" rating and lifted their price objective for the company from $18.00 to $24.00 in a report on Friday. Roth Mkm reissued a "buy" rating and set a $22.00 target price (up previously from $20.00) on shares of Orthofix Medical in a research note on Friday. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $23.00.

Orthofix Medical Stock Performance

The stock has a market capitalization of $764.26 million, a PE ratio of -6.40 and a beta of 1.05. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.39 and a quick ratio of 1.13. The business has a 50 day moving average price of $16.29 and a 200 day moving average price of $15.34.

Institutional Investors Weigh In On Orthofix Medical

A number of institutional investors and hedge funds have recently bought and sold shares of OFIX. nVerses Capital LLC purchased a new stake in shares of Orthofix Medical in the second quarter valued at approximately $27,000. Quest Partners LLC acquired a new stake in Orthofix Medical in the second quarter valued at $64,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Orthofix Medical by 25.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,435 shares of the medical device company's stock worth $125,000 after purchasing an additional 1,919 shares during the last quarter. Arizona State Retirement System purchased a new position in shares of Orthofix Medical during the second quarter worth about $139,000. Finally, XTX Topco Ltd purchased a new position in shares of Orthofix Medical during the second quarter worth about $175,000. 89.76% of the stock is owned by 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.