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

Orthofix Medical (NASDAQ:OFIX) had its price target decreased by Stifel Nicolaus from $22.00 to $18.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the medical device company’s stock. Stifel Nicolaus’ price objective suggests a potential upside of 45.51% from the company’s current price.

A number of other equities analysts have also commented on OFIX. Wall Street Zen upgraded shares of Orthofix Medical from a “hold” rating to a “buy” rating in a report on Saturday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Orthofix Medical in a research note on Thursday, January 22nd. Barrington Research reduced their price target on Orthofix Medical from $18.00 to $17.00 and set an “outperform” rating for the company in a report on Wednesday, February 25th. TD Cowen began coverage on Orthofix Medical in a research note on Tuesday, January 27th. They set a “hold” rating and a $14.00 price objective for the company. Finally, Canaccord Genuity Group dropped their price objective on Orthofix Medical from $24.00 to $20.00 and set a “buy” rating on the stock in a report on Thursday, February 26th. Three 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 company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $17.25.

Orthofix Medical Stock Down 0.7%

NASDAQ OFIX opened at $12.37 on Monday. The company has a quick ratio of 1.43, a current ratio of 2.45 and a debt-to-equity ratio of 0.39. Orthofix Medical has a fifty-two week low of $10.24 and a fifty-two week high of $17.28. The business has a 50 day moving average price of $13.73 and a two-hundred day moving average price of $14.63. The stock has a market cap of $496.53 million, a PE ratio of -5.29 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) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.50). The firm had revenue of $219.91 million for the quarter, compared to analysts’ expectations of $218.72 million. Orthofix Medical had a negative net margin of 11.21% and a negative return on equity of 20.38%. As a group, sell-side analysts predict that Orthofix Medical will post -2.81 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Massimo Calafiore sold 9,797 shares of the business’s stock in a transaction on Monday, January 12th. The shares were sold at an average price of $15.21, for a total value of $149,012.37. Following the sale, the chief executive officer owned 217,237 shares in the company, valued at approximately $3,304,174.77. The trade was a 4.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Julie Andrews sold 4,873 shares of the firm’s stock in a transaction that occurred on Friday, January 16th. The stock was sold at an average price of $14.38, for a total transaction of $70,073.74. Following the sale, the chief financial officer directly owned 58,039 shares of the company’s stock, valued at approximately $834,600.82. The trade was a 7.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 24,270 shares of company stock valued at $370,958. Company insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Orthofix Medical

Several hedge funds and other institutional investors have recently made changes to their positions in the company. CWM LLC grew its holdings in Orthofix Medical by 99.0% during the 3rd quarter. CWM LLC now owns 1,920 shares of the medical device company’s stock worth $28,000 after acquiring an additional 955 shares during the period. State of Alaska Department of Revenue acquired a new position in shares of Orthofix Medical in the third quarter valued at approximately $30,000. Kestra Advisory Services LLC acquired a new position in Orthofix Medical in the 4th quarter worth $56,000. Strs Ohio bought a new position in shares of Orthofix Medical during the first quarter worth about $150,000. Finally, Mackenzie Financial Corp bought a new position in shares of Orthofix Medical during the 3rd quarter worth approximately $148,000. 89.76% of the stock is owned by institutional investors and hedge funds.

Orthofix Medical Company Profile

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.