Orthofix Medical (NASDAQ:OFIX) Earns “Buy” Rating from Roth Mkm

Orthofix Medical (NASDAQ:OFIX)‘s stock had its “buy” rating reissued by research analysts at Roth Mkm in a report released on Wednesday,Benzinga reports. They presently have a $22.00 target price on the medical device company’s stock. Roth Mkm’s price objective would suggest a potential upside of 27.83% from the stock’s previous close.

OFIX has been the subject of a number of other reports. Stifel Nicolaus raised Orthofix Medical from a “hold” rating to a “buy” rating and lifted their price target for the stock from $18.00 to $24.00 in a report on Friday, November 8th. StockNews.com upgraded Orthofix Medical from a “hold” rating to a “buy” rating in a research note on Tuesday. Finally, Canaccord Genuity Group started coverage on shares of Orthofix Medical in a research note on Wednesday, January 22nd. They issued a “buy” rating and a $24.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.33.

Orthofix Medical Price Performance

Orthofix Medical stock opened at $17.21 on Wednesday. The company has a current ratio of 2.39, a quick ratio of 1.11 and a debt-to-equity ratio of 0.25. The company has a fifty day simple moving average of $17.93 and a 200-day simple moving average of $17.35. The stock has a market cap of $657.66 million, a P/E ratio of -5.50 and a beta of 1.10. Orthofix Medical has a 12-month low of $12.08 and a 12-month high of $20.73.

Insiders Place Their Bets

In related news, CEO Massimo Calafiore sold 9,203 shares of the company’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $17.14, for a total value of $157,739.42. Following the completion of the sale, the chief executive officer now directly owns 124,151 shares of the company’s stock, valued at $2,127,948.14. This represents a 6.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Julie Andrews sold 4,655 shares of Orthofix Medical stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $17.89, for a total value of $83,277.95. Following the transaction, the chief financial officer now directly owns 28,312 shares in the company, valued at approximately $506,501.68. This trade represents a 14.12 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 25,442 shares of company stock valued at $436,883. 2.60% of the stock is currently owned by insiders.

Institutional Trading of Orthofix Medical

Institutional investors and hedge funds have recently bought and sold shares of the business. Engine Capital Management LP grew its position in Orthofix Medical by 2.4% during the 4th quarter. Engine Capital Management LP now owns 3,450,744 shares of the medical device company’s stock worth $60,250,000 after purchasing an additional 82,079 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Orthofix Medical by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 2,126,785 shares of the medical device company’s stock worth $37,134,000 after buying an additional 12,286 shares during the period. Juniper Investment Company LLC grew its holdings in shares of Orthofix Medical by 123.5% during the fourth quarter. Juniper Investment Company LLC now owns 1,937,249 shares of the medical device company’s stock worth $33,824,000 after buying an additional 1,070,656 shares during the last quarter. Boone Capital Management LLC increased its position in Orthofix Medical by 13.6% in the 4th quarter. Boone Capital Management LLC now owns 1,057,313 shares of the medical device company’s stock valued at $18,461,000 after acquiring an additional 126,806 shares during the period. Finally, Geode Capital Management LLC raised its stake in Orthofix Medical by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 841,637 shares of the medical device company’s stock valued at $14,699,000 after acquiring an additional 2,448 shares during the last quarter. Hedge funds and other institutional investors own 89.76% of the company’s stock.

About Orthofix Medical

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.