Stifel Nicolaus Cuts Orthofix Medical (NASDAQ:OFIX) Price Target to $18.00

Orthofix Medical (NASDAQ:OFIX) had its price objective lowered by investment analysts at Stifel Nicolaus from $22.00 to $18.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the medical device company’s stock. Stifel Nicolaus’ target price would suggest a potential upside of 42.63% from the company’s current price.

A number of other analysts also recently commented on OFIX. TD Cowen assumed coverage on Orthofix Medical in a research report on Tuesday, January 27th. They set a “hold” rating and a $14.00 price target for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Orthofix Medical in a research report on Thursday, January 22nd. Canaccord Genuity Group decreased their target price on Orthofix Medical from $24.00 to $20.00 and set a “buy” rating for the company in a research report on Thursday, February 26th. Barrington Research reduced their price target on shares of Orthofix Medical from $18.00 to $17.00 and set an “outperform” rating for the company in a research report on Wednesday, February 25th. Finally, Wall Street Zen raised shares of Orthofix Medical from a “hold” rating to a “buy” rating in a research report on Saturday. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Orthofix Medical has a consensus rating of “Hold” and an average target price of $17.25.

Orthofix Medical Stock Up 0.4%

Orthofix Medical stock opened at $12.62 on Monday. Orthofix Medical has a fifty-two week low of $10.24 and a fifty-two week high of $17.28. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.43 and a current ratio of 2.45. The firm’s 50-day simple moving average is $13.85 and its 200 day simple moving average is $14.66. The stock has a market cap of $506.62 million, a PE ratio of -5.39 and a beta of 0.75.

Orthofix Medical (NASDAQ:OFIX) last posted its quarterly earnings data 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). Orthofix Medical had a negative net margin of 11.21% and a negative return on equity of 20.38%. The firm had revenue of $219.91 million during the quarter, compared to analysts’ expectations of $218.72 million. Research analysts predict that Orthofix Medical will post -2.81 EPS for the current fiscal year.

Insider Activity at Orthofix Medical

In other news, CEO Massimo Calafiore sold 9,797 shares of Orthofix Medical stock in a transaction dated Monday, January 12th. The shares were sold at an average price of $15.21, for a total value of $149,012.37. Following the completion of the transaction, the chief executive officer owned 217,237 shares in the company, valued at $3,304,174.77. This trade represents a 4.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Engine Capital Management, Lp purchased 13,061 shares of the stock in a transaction dated Wednesday, February 25th. The stock was acquired at an average cost of $12.96 per share, for a total transaction of $169,270.56. Following the transaction, the insider owned 3,673,092 shares of the company’s stock, valued at approximately $47,603,272.32. This trade represents a 0.36% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last three months, insiders have sold 24,270 shares of company stock worth $370,958. Company insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Orthofix Medical

A number of hedge funds and other institutional investors have recently bought and sold shares of OFIX. Paradigm Capital Management Inc. NY boosted its holdings in shares of Orthofix Medical by 34.6% in the second quarter. Paradigm Capital Management Inc. NY now owns 3,340,600 shares of the medical device company’s stock worth $37,248,000 after acquiring an additional 858,900 shares during the period. Millennium Management LLC boosted its stake in Orthofix Medical by 86.6% in the 3rd quarter. Millennium Management LLC now owns 1,475,718 shares of the medical device company’s stock worth $21,605,000 after purchasing an additional 684,850 shares during the period. Juniper Investment Company LLC grew its holdings in Orthofix Medical by 23.3% during the 4th quarter. Juniper Investment Company LLC now owns 3,510,333 shares of the medical device company’s stock valued at $53,217,000 after buying an additional 663,278 shares in the last quarter. Bank of America Corp DE increased its position in shares of Orthofix Medical by 659.5% during the second quarter. Bank of America Corp DE now owns 687,410 shares of the medical device company’s stock valued at $7,665,000 after buying an additional 596,907 shares during the period. Finally, Engine Capital Management LP lifted its holdings in shares of Orthofix Medical by 13.6% in the second quarter. Engine Capital Management LP now owns 4,251,671 shares of the medical device company’s stock worth $47,406,000 after buying an additional 510,281 shares in the last quarter. Institutional investors own 89.76% of the company’s stock.

About Orthofix Medical

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.