Orthofix Medical Inc. (NASDAQ:OFIX) Sees Large Decrease in Short Interest

Orthofix Medical Inc. (NASDAQ:OFIX) was the recipient of a significant drop in short interest in the month of December. As of December 15th, there was short interest totalling 1,120,000 shares, a drop of 18.2% from the November 30th total of 1,370,000 shares. Based on an average daily trading volume, of 255,100 shares, the short-interest ratio is currently 4.4 days.

Orthofix Medical Stock Down 1.7 %

Orthofix Medical stock traded down $0.30 during trading hours on Friday, reaching $17.53. The stock had a trading volume of 154,513 shares, compared to its average volume of 318,257. The company has a market cap of $669.89 million, a price-to-earnings ratio of -5.60 and a beta of 1.09. The business’s 50 day moving average price is $17.95 and its 200-day moving average price is $16.35. Orthofix Medical has a 52 week low of $12.08 and a 52 week 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.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of OFIX. nVerses Capital LLC acquired a new position in shares of Orthofix Medical during the second quarter worth $27,000. Quest Partners LLC purchased a new position in Orthofix Medical during the 2nd quarter worth $64,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Orthofix Medical by 25.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,435 shares of the medical device company’s stock valued at $125,000 after buying an additional 1,919 shares in the last quarter. Arizona State Retirement System purchased a new stake in Orthofix Medical in the second quarter valued at about $139,000. Finally, XTX Topco Ltd purchased a new stake in Orthofix Medical in the second quarter valued at about $175,000. Institutional investors own 89.76% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on OFIX. Stifel Nicolaus upgraded shares of Orthofix Medical from a “hold” rating to a “buy” rating and boosted their price target for the company from $18.00 to $24.00 in a report on Friday, November 8th. Roth Mkm reissued a “buy” rating and issued a $22.00 price objective (up previously from $20.00) on shares of Orthofix Medical in a research note on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $23.00.

Orthofix Medical Company Profile

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.