TD Cowen Begins Coverage on Orthofix Medical (NASDAQ:OFIX)

Equities researchers at TD Cowen assumed coverage on shares of Orthofix Medical (NASDAQ:OFIX) in a report issued on Tuesday, Marketbeat Ratings reports. The brokerage set a “hold” rating and a $14.00 price target on the medical device company’s stock. TD Cowen’s price target points to a potential upside of 6.54% from the stock’s current price.

Several other equities research analysts have also recently weighed in on the company. Barrington Research upped their price target on Orthofix Medical from $17.00 to $18.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Orthofix Medical in a research report on Thursday, January 22nd. Finally, Stifel Nicolaus assumed coverage on shares of Orthofix Medical in a research note on Tuesday, October 28th. They issued a “buy” rating and a $22.00 price target for the company. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Orthofix Medical currently has a consensus rating of “Hold” and an average price target of $20.00.

Orthofix Medical Price Performance

OFIX stock opened at $13.14 on Tuesday. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.47 and a quick ratio of 1.38. Orthofix Medical has a 1 year low of $10.24 and a 1 year high of $20.48. The firm has a 50-day moving average of $15.14 and a 200 day moving average of $14.44. The company has a market cap of $520.34 million, a P/E ratio of -4.34 and a beta of 0.79.

Insider Transactions at Orthofix Medical

In other Orthofix Medical 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 directly owned 217,237 shares of the company’s stock, valued at approximately $3,304,174.77. The trade was a 4.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Julie Andrews sold 4,873 shares of the stock in a transaction that occurred on Friday, January 16th. The shares were sold at an average price of $14.38, for a total transaction of $70,073.74. Following the sale, the chief financial officer owned 58,039 shares in the company, valued at approximately $834,600.82. The trade was a 7.75% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 24,270 shares of company stock valued at $370,958. 1.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. AQR Capital Management LLC lifted its holdings in shares of Orthofix Medical by 67.7% during the first quarter. AQR Capital Management LLC now owns 20,409 shares of the medical device company’s stock valued at $333,000 after purchasing an additional 8,241 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Orthofix Medical by 6.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,561 shares of the medical device company’s stock worth $335,000 after buying an additional 1,213 shares during the last quarter. Jane Street Group LLC bought a new position in Orthofix Medical during the 1st quarter valued at about $1,076,000. Strs Ohio bought a new position in Orthofix Medical during the 1st quarter valued at about $150,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of Orthofix Medical during the 2nd quarter valued at about $325,000. Hedge funds and other 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.