Barrington Research Upgrades Orthofix Medical (NASDAQ:OFIX) to Strong-Buy

Orthofix Medical (NASDAQ:OFIX) was upgraded by stock analysts at Barrington Research to a “strong-buy” rating in a report released on Monday, Marketbeat.com reports. The brokerage presently has a $16.00 price objective on the medical device company’s stock. Barrington Research’s target price suggests a potential upside of 45.85% from the stock’s current price.

Several other equities research analysts have also weighed in on the company. Roth Mkm reaffirmed a “buy” rating and issued a $22.00 target price on shares of Orthofix Medical in a research report on Wednesday, February 26th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $24.00 target price on shares of Orthofix Medical in a research report on Wednesday, February 26th. JMP Securities restated a “market perform” rating on shares of Orthofix Medical in a research report on Friday, June 6th. Finally, Wall Street Zen upgraded Orthofix Medical from a “sell” rating to a “hold” rating in a research report on Saturday, June 14th. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Orthofix Medical has a consensus rating of “Moderate Buy” and an average price target of $21.50.

Orthofix Medical Price Performance

Shares of NASDAQ OFIX opened at $10.97 on Monday. Orthofix Medical has a 1-year low of $10.24 and a 1-year high of $20.73. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.71 and a quick ratio of 1.50. The business’s fifty day moving average price is $11.97 and its two-hundred day moving average price is $15.37. The firm has a market capitalization of $429.80 million, a PE ratio of -2.97 and a beta of 0.80.

Insider Activity at Orthofix Medical

In other news, insider Aviva Mcpherron sold 3,728 shares of Orthofix Medical stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $10.51, for a total transaction of $39,181.28. Following the transaction, the insider now directly owns 46,322 shares in the company, valued at approximately $486,844.22. This trade represents a 7.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Engine Capital Management, Lp acquired 100,000 shares of Orthofix Medical stock in a transaction dated Wednesday, May 7th. The shares were bought at an average cost of $12.31 per share, with a total value of $1,231,000.00. Following the completion of the purchase, the insider now owns 3,544,807 shares in the company, valued at approximately $43,636,574.17. This represents a 2.90% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 112,250 shares of company stock worth $1,380,970 and have sold 7,620 shares worth $91,168. 1.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Orthofix Medical

Several large investors have recently modified their holdings of OFIX. Rhumbline Advisers boosted its stake in shares of Orthofix Medical by 1.2% during the 4th quarter. Rhumbline Advisers now owns 54,989 shares of the medical device company’s stock worth $960,000 after acquiring an additional 661 shares in the last quarter. Versor Investments LP bought a new stake in shares of Orthofix Medical during the 4th quarter worth $499,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Orthofix Medical by 4.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 339,531 shares of the medical device company’s stock worth $5,928,000 after acquiring an additional 14,724 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Orthofix Medical by 2.9% during the 4th quarter. Victory Capital Management Inc. now owns 66,675 shares of the medical device company’s stock worth $1,164,000 after acquiring an additional 1,868 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Orthofix Medical during the 4th quarter worth $1,003,000. 89.76% of the stock is owned by institutional investors.

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.