Orthofix Medical Inc. (NASDAQ:OFIX) Receives $14.75 Average Price Target from Analysts

Shares of Orthofix Medical Inc. (NASDAQ:OFIX) have earned a consensus rating of “Hold” from the five brokerages that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $14.75.

Several brokerages recently commented on OFIX. Barrington Research upped their price target on shares of Orthofix Medical from $15.00 to $17.00 and gave the company an “outperform” rating in a report on Monday, July 6th. Weiss Ratings raised shares of Orthofix Medical from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, September 11th. Finally, Canaccord Genuity Group dropped their target price on Orthofix Medical from $18.00 to $13.00 and set a “buy” rating for the company in a research report on Monday, August 10th.

Orthofix Medical Price Performance

Shares of OFIX opened at $8.71 on Wednesday. The company has a quick ratio of 1.67, a current ratio of 2.84 and a debt-to-equity ratio of 0.55. The business has a fifty day moving average of $10.33 and a 200 day moving average of $10.90. The company has a market cap of $354.78 million, a PE ratio of -5.66 and a beta of 0.64. Orthofix Medical has a 52-week low of $8.50 and a 52-week high of $16.99.

Orthofix Medical (NASDAQ:OFIX) last announced its earnings results on Wednesday, August 5th. The medical device company reported ($0.39) earnings per share for the quarter, beating the consensus estimate of ($0.41) by $0.02. The business had revenue of $210.93 million for the quarter, compared to the consensus estimate of $209.28 million. Orthofix Medical had a negative net margin of 7.41% and a negative return on equity of 14.05%. On average, sell-side analysts expect that Orthofix Medical will post -1.29 EPS for the current year.

Hedge Funds Weigh In On Orthofix Medical

A number of large investors have recently bought and sold shares of OFIX. Integrated Wealth Concepts LLC purchased a new stake in Orthofix Medical in the second quarter worth $30,000. Legal & General Group Plc purchased a new stake in shares of Orthofix Medical during the second quarter valued at $37,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Orthofix Medical during the second quarter valued at $114,000. Abel Hall LLC bought a new position in shares of Orthofix Medical in the first quarter worth about $139,000. Finally, R Squared Ltd grew its holdings in shares of Orthofix Medical by 7.2% in the first quarter. R Squared Ltd now owns 13,518 shares of the medical device company’s stock worth $155,000 after purchasing an additional 904 shares during the last quarter. Hedge funds and other institutional investors own 89.76% of the company’s stock.

Orthofix Medical Company Profile

Orthofix Medical Inc (NASDAQ: OFIX) is a global medical device company focused on spine and orthopedic care. The company develops and markets products intended to help physicians treat spinal disorders, support bone healing, and address orthopedic injuries and conditions.

Its portfolio includes spinal fixation and motion-preservation systems, interbody implants, bone graft and other biologic products, bone growth stimulation devices, and solutions for limb reconstruction and deformity correction.