Orthofix Medical (NASDAQ:OFIX) Share Price Crosses Above 200-Day Moving Average - Here's Why

Orthofix Medical Inc. (NASDAQ:OFIX - Get Free Report) shares passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $17.20 and traded as high as $18.06. Orthofix Medical shares last traded at $18.06, with a volume of 129,763 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Stifel Nicolaus raised shares of Orthofix Medical from a "hold" rating to a "buy" rating and upped their price objective for the company from $18.00 to $24.00 in a report on Friday, November 8th. Canaccord Genuity Group initiated coverage on shares of Orthofix Medical in a research note on Wednesday, January 22nd. They set a "buy" rating and a $24.00 target price for the company. StockNews.com raised shares of Orthofix Medical from a "hold" rating to a "buy" rating in a research note on Friday, January 31st. Finally, Roth Mkm reaffirmed 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, November 8th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, Orthofix Medical currently has an average rating of "Moderate Buy" and a consensus target price of $23.33.

Orthofix Medical Trading Up 1.6 %

The company's 50 day moving average price is $17.93 and its 200 day moving average price is $17.25. 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 firm has a market cap of $711.16 million, a PE ratio of -5.95 and a beta of 1.10.

Insider Activity at Orthofix Medical

In related news, CFO Julie Andrews sold 4,655 shares of the firm's stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $17.89, for a total value of $83,277.95. Following the sale, the chief financial officer now owns 28,312 shares of the company's stock, valued at $506,501.68. This trade represents a 14.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Massimo Calafiore sold 10,078 shares of the firm's stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $16.83, for a total transaction of $169,612.74. Following the completion of 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 disclosure for this sale can be found here. Insiders have sold a total of 25,442 shares of company stock valued at $436,883 over the last 90 days. 2.60% of the stock is owned by corporate insiders.

Institutional Trading of Orthofix Medical

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in 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 purchasing an additional 559 shares in the last quarter. Rhumbline Advisers raised its holdings in Orthofix Medical by 1.2% during the fourth quarter. Rhumbline Advisers now owns 54,989 shares of the medical device company's stock worth $960,000 after purchasing an additional 661 shares in the last quarter. Invesco Ltd. raised its holdings in Orthofix Medical by 1.0% during the fourth quarter. Invesco Ltd. now owns 74,977 shares of the medical device company's stock worth $1,309,000 after purchasing an additional 767 shares in the last quarter. Swiss National Bank raised its holdings in Orthofix Medical by 2.6% during the fourth quarter. Swiss National Bank now owns 67,600 shares of the medical device company's stock worth $1,180,000 after purchasing an additional 1,700 shares in the last quarter. Finally, Victory Capital Management Inc. raised its holdings in Orthofix Medical by 2.9% during the fourth quarter. Victory Capital Management Inc. now owns 66,675 shares of the medical device company's stock worth $1,164,000 after purchasing an additional 1,868 shares in the last quarter. Institutional investors and hedge funds own 89.76% of the company's stock.

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.