Roth Mkm Reiterates “Buy” Rating for Orthofix Medical (NASDAQ:OFIX)

Orthofix Medical (NASDAQ:OFIX)‘s stock had its “buy” rating restated by investment analysts at Roth Mkm in a report released on Wednesday,Benzinga reports. They presently have a $22.00 price objective on the medical device company’s stock. Roth Mkm’s target price would suggest a potential upside of 28.32% from the stock’s previous close.

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

Orthofix Medical Stock Performance

Shares of Orthofix Medical stock traded down $0.37 during midday trading on Wednesday, hitting $17.15. The company had a trading volume of 97,840 shares, compared to its average volume of 172,081. Orthofix Medical has a 1-year low of $12.08 and a 1-year high of $20.73. 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 business’s 50 day simple moving average is $17.94 and its two-hundred day simple moving average is $17.35. The stock has a market cap of $655.18 million, a PE ratio of -5.50 and a beta of 1.10.

Insiders Place Their Bets

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 9,203 shares of Orthofix Medical 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 sale, the chief executive officer now directly owns 124,151 shares of the company’s stock, valued at $2,127,948.14. This trade represents a 6.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 25,442 shares of company stock worth $436,883. Company insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Orthofix Medical

A number of institutional investors and hedge funds have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Orthofix Medical by 5.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,994 shares of the medical device company’s stock valued at $156,000 after purchasing an additional 559 shares during the period. Rhumbline Advisers boosted its holdings in Orthofix Medical by 1.2% in the fourth quarter. Rhumbline Advisers now owns 54,989 shares of the medical device company’s stock valued at $960,000 after purchasing an additional 661 shares during the last quarter. Invesco Ltd. grew its position in shares of 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 buying an additional 767 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Orthofix Medical by 4.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,348 shares of the medical device company’s stock worth $338,000 after buying an additional 836 shares during the last quarter. Finally, Swiss National Bank raised its holdings in Orthofix Medical by 2.6% in the fourth quarter. Swiss National Bank now owns 67,600 shares of the medical device company’s stock valued at $1,180,000 after acquiring an additional 1,700 shares in the last quarter. Institutional investors and hedge funds 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.