Orthofix Medical Inc. (NASDAQ:OFIX) Short Interest Update

Orthofix Medical Inc. (NASDAQ:OFIX) was the recipient of a large decrease in short interest in the month of November. As of November 30th, there was short interest totalling 1,370,000 shares, a decrease of 17.5% from the November 15th total of 1,660,000 shares. Based on an average daily volume of 257,600 shares, the days-to-cover ratio is currently 5.3 days.

Hedge Funds Weigh In On Orthofix Medical

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OFIX. nVerses Capital LLC bought a new stake in shares of Orthofix Medical in the second quarter valued at approximately $27,000. Quest Partners LLC bought a new stake in Orthofix Medical during the 2nd quarter valued at $64,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Orthofix Medical by 25.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,435 shares of the medical device company’s stock worth $125,000 after acquiring an additional 1,919 shares in the last quarter. Arizona State Retirement System purchased a new stake in shares of Orthofix Medical during the second quarter worth $139,000. Finally, XTX Topco Ltd bought a new position in shares of Orthofix Medical in the second quarter worth $175,000. Institutional investors own 89.76% of the company’s stock.

Analyst Upgrades and Downgrades

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

Orthofix Medical Stock Down 0.7 %

OFIX stock opened at $17.96 on Monday. The stock has a fifty day moving average of $17.55 and a 200-day moving average of $16.09. Orthofix Medical has a fifty-two week low of $11.86 and a fifty-two week high of $20.73. The company has a market capitalization of $686.32 million, a price-to-earnings ratio of -5.74 and a beta of 1.09. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.11 and a current ratio of 2.39.

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.