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

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

Wall Street Analysts Forecast Growth

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

Orthofix Medical Stock Performance

Shares of NASDAQ:OFIX traded down $0.03 on Monday, hitting $17.50. The company had a trading volume of 245,564 shares, compared to its average volume of 317,967. The stock has a 50 day moving average price of $17.95 and a 200 day moving average price of $16.37. The company has a current ratio of 2.39, a quick ratio of 1.11 and a debt-to-equity ratio of 0.25. The stock has a market cap of $668.75 million, a price-to-earnings ratio of -5.59 and a beta of 1.09. Orthofix Medical has a 1-year low of $12.08 and a 1-year high of $20.73.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Orthofix Medical by 5.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,994 shares of the medical device company’s stock worth $156,000 after acquiring an additional 559 shares during the period. AQR Capital Management LLC lifted its holdings in Orthofix Medical by 4.4% during the 2nd quarter. AQR Capital Management LLC now owns 31,863 shares of the medical device company’s stock worth $423,000 after purchasing an additional 1,336 shares during the last quarter. nVerses Capital LLC bought a new stake in Orthofix Medical in the 2nd quarter valued at $27,000. Victory Capital Management Inc. grew its holdings in Orthofix Medical by 3.3% in the 3rd quarter. Victory Capital Management Inc. now owns 64,807 shares of the medical device company’s stock valued at $1,012,000 after buying an additional 2,074 shares in the last quarter. Finally, Verition Fund Management LLC increased its position in Orthofix Medical by 14.9% during the 3rd quarter. Verition Fund Management LLC now owns 31,704 shares of the medical device company’s stock worth $495,000 after buying an additional 4,112 shares during the period. 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.