Orthofix Medical (NASDAQ:OFIX) Given New $17.00 Price Target at Barrington Research

Orthofix Medical (NASDAQ:OFIXGet Free Report) had its price objective decreased by Barrington Research from $18.00 to $17.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the medical device company’s stock. Barrington Research’s price target would suggest a potential upside of 30.37% from the stock’s current price.

OFIX has been the subject of a number of other research reports. TD Cowen began coverage on Orthofix Medical in a report on Tuesday, January 27th. They set a “hold” rating and a $14.00 price objective for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Orthofix Medical in a research note on Thursday, January 22nd. Finally, Stifel Nicolaus started coverage on Orthofix Medical in a research report on Tuesday, October 28th. They set a “buy” rating and a $22.00 price objective on the stock. Four equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $19.80.

View Our Latest Report on Orthofix Medical

Orthofix Medical Stock Performance

Orthofix Medical stock traded up $0.29 during midday trading on Wednesday, reaching $13.04. 369,811 shares of the company’s stock were exchanged, compared to its average volume of 241,008. The stock’s 50-day simple moving average is $14.22 and its 200 day simple moving average is $14.72. The firm has a market cap of $516.38 million, a price-to-earnings ratio of -4.30 and a beta of 0.78. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.38 and a current ratio of 2.47. Orthofix Medical has a 52 week low of $10.24 and a 52 week high of $18.66.

Orthofix Medical (NASDAQ:OFIXGet Free Report) last issued its earnings results on Tuesday, February 24th. The medical device company reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.44 by ($0.50). The business had revenue of $219.91 million for the quarter, compared to the consensus estimate of $218.72 million. Orthofix Medical had a negative return on equity of 25.59% and a negative net margin of 14.56%. On average, analysts expect that Orthofix Medical will post -2.81 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Julie Andrews sold 4,873 shares of the business’s stock in a transaction that occurred on Friday, January 16th. The shares were sold at an average price of $14.38, for a total value of $70,073.74. Following the completion of the transaction, the chief financial officer directly owned 58,039 shares in the company, valued at approximately $834,600.82. The trade was a 7.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Massimo Calafiore sold 9,797 shares of the stock in a transaction that occurred on Monday, January 12th. The stock was sold at an average price of $15.21, for a total transaction of $149,012.37. Following the sale, the chief executive officer owned 217,237 shares in the company, valued at $3,304,174.77. This represents a 4.32% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 24,270 shares of company stock worth $370,958. Insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Orthofix Medical

Institutional investors have recently modified their holdings of the business. CWM LLC lifted its holdings in shares of Orthofix Medical by 99.0% in the third quarter. CWM LLC now owns 1,920 shares of the medical device company’s stock worth $28,000 after acquiring an additional 955 shares during the last quarter. State of Alaska Department of Revenue acquired a new position in shares of Orthofix Medical during the third quarter worth $30,000. Kestra Advisory Services LLC bought a new stake in Orthofix Medical in the fourth quarter valued at approximately $56,000. Strs Ohio bought a new stake in Orthofix Medical during the first quarter valued at $150,000. Finally, Mackenzie Financial Corp acquired a new position in Orthofix Medical in the third quarter valued at approximately $148,000. Institutional investors and hedge funds own 89.76% of the company’s stock.

Key Stories Impacting Orthofix Medical

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About Orthofix Medical

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Orthofix Medical Inc (NASDAQ: OFIX) is a global medical device company focused on the design and development of innovative orthopedic and spinal solutions. The company’s core business is divided into two segments: spine and orthopedics. In the spine segment, Orthofix offers a range of titanium implants, biologics and portable bone growth stimulation devices designed to support spinal fusion, deformity correction and minimally invasive procedures. Its orthopedic segment encompasses products for fracture fixation, external fixation systems, trauma care and sports medicine, providing surgeons with implantable devices and instruments for complex bone reconstruction and healing.

Orthofix’s product portfolio includes strut systems, bone growth stimulators, interbody fusion devices and fixation hardware that address various indications such as degenerative disc disease, spinal deformities, non-unions and long-bone fractures.

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