Orthofix Medical (NASDAQ:OFIX) Shares Cross Above 200-Day Moving Average - Should You Sell?

Orthofix Medical Inc. (NASDAQ:OFIX - Get Free Report)'s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $15.53 and traded as high as $18.44. Orthofix Medical shares last traded at $18.29, with a volume of 201,159 shares changing hands.

Wall Street Analysts Forecast Growth

OFIX has been the subject of a number of analyst reports. Roth Mkm reaffirmed a "buy" rating and issued a $22.00 price target (up previously from $20.00) on shares of Orthofix Medical in a report on Friday, November 8th. Stifel Nicolaus raised shares of Orthofix Medical from a "hold" rating to a "buy" rating and increased their price objective for the stock from $18.00 to $24.00 in a research report on Friday, November 8th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $23.00.

Orthofix Medical Trading Up 2.4 %

The company has a market capitalization of $715.75 million, a PE ratio of -5.90 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 1.11. The company's fifty day moving average is $16.47 and its 200-day moving average is $15.53.

Institutional Investors Weigh In On Orthofix Medical

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Orthofix Medical by 5.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,994 shares of the medical device company's stock worth $156,000 after buying an additional 559 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of Orthofix Medical by 3.9% during 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 purchasing an additional 1,236 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of Orthofix Medical by 4.4% during the second quarter. AQR Capital Management LLC now owns 31,863 shares of the medical device company's stock worth $423,000 after purchasing an additional 1,336 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Orthofix Medical by 25.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,435 shares of the medical device company's stock valued at $125,000 after buying an additional 1,919 shares in the last quarter. Finally, nVerses Capital LLC purchased a new stake in shares of Orthofix Medical during the second quarter worth about $27,000. 89.76% of the stock is currently owned by institutional investors and hedge funds.

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.