Orthofix Medical (NASDAQ:OFIX) Receives Buy Rating from Canaccord Genuity Group

Canaccord Genuity Group reaffirmed their buy rating on shares of Orthofix Medical (NASDAQ:OFIX) in a research note released on Wednesday morning,Benzinga reports. The firm currently has a $24.00 target price on the medical device company’s stock.

A number of other analysts also recently commented on the stock. Stifel Nicolaus upgraded shares of Orthofix Medical from a “hold” rating to a “buy” rating and increased their price objective for the company from $18.00 to $24.00 in a report on Friday, November 8th. Roth Mkm reiterated a “buy” rating and issued a $22.00 price objective on shares of Orthofix Medical in a report on Wednesday. Finally, StockNews.com upgraded shares of Orthofix Medical from a “hold” rating to a “buy” rating in a report on Tuesday. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Orthofix Medical currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.33.

Orthofix Medical Stock Down 1.4 %

OFIX opened at $17.26 on Wednesday. The company has a market cap of $659.57 million, a PE ratio of -5.51 and a beta of 1.10. The company has a quick ratio of 1.11, a current ratio of 2.39 and a debt-to-equity ratio of 0.25. Orthofix Medical has a twelve month low of $12.08 and a twelve month high of $20.73. The company has a 50-day moving average price of $17.93 and a 200 day moving average price of $17.35.

Insider Transactions at Orthofix Medical

In other 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 transaction of $83,277.95. Following the completion of the sale, the chief financial officer now owns 28,312 shares in the company, valued at $506,501.68. This trade represents a 14.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Massimo Calafiore sold 9,203 shares of the firm’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $17.14, for a total transaction of $157,739.42. Following the sale, the chief executive officer now 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 disclosure for this sale can be found here. Insiders sold 25,442 shares of company stock worth $436,883 in the last 90 days. Insiders own 2.60% of the company’s stock.

Institutional Trading of Orthofix Medical

A number of hedge funds and other institutional investors have recently made changes to their positions in OFIX. Lazard Asset Management LLC acquired a new stake in shares of Orthofix Medical during the 4th quarter worth approximately $45,000. R Squared Ltd purchased a new position in shares of Orthofix Medical during the 4th quarter worth approximately $50,000. KLP Kapitalforvaltning AS purchased a new position in shares of Orthofix Medical during the 4th quarter worth approximately $112,000. Tower Research Capital LLC TRC boosted its position in shares of Orthofix Medical by 120.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 8,458 shares of the medical device company’s stock worth $148,000 after purchasing an additional 4,627 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Orthofix Medical by 5.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,994 shares of the medical device company’s stock worth $156,000 after purchasing an additional 559 shares during the period. 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.