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

Orthofix Medical (NASDAQ:OFIX)‘s stock had its “buy” rating reiterated by equities research analysts at Canaccord Genuity Group in a report issued on Wednesday,Benzinga reports. They currently have a $24.00 price target on the medical device company’s stock. Canaccord Genuity Group’s price objective suggests a potential upside of 39.45% from the company’s current price.

Other equities analysts have also recently issued reports about the stock. StockNews.com raised shares of Orthofix Medical from a “hold” rating to a “buy” rating in a research report on Tuesday. Stifel Nicolaus raised shares of Orthofix Medical from a “hold” rating to a “buy” rating and lifted their target price for the stock from $18.00 to $24.00 in a report on Friday, November 8th. Finally, Roth Mkm reissued a “buy” rating and issued a $22.00 price target on shares of Orthofix Medical in a report on Wednesday. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $23.33.

Orthofix Medical Stock Performance

Shares of NASDAQ OFIX opened at $17.21 on Wednesday. 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 company has a market capitalization of $657.66 million, a P/E ratio of -5.50 and a beta of 1.10. Orthofix Medical has a 12 month low of $12.08 and a 12 month high of $20.73. The stock has a 50 day moving average of $17.93 and a 200-day moving average of $17.35.

Insider Transactions at Orthofix Medical

In other Orthofix Medical news, CEO Massimo Calafiore sold 10,078 shares of the stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $16.83, for a total transaction of $169,612.74. Following the transaction, the chief executive officer now owns 133,354 shares in the company, valued at $2,244,347.82. This represents a 7.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Julie Andrews sold 4,655 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $17.89, for a total transaction of $83,277.95. Following the transaction, the chief financial officer now directly owns 28,312 shares in the company, valued at $506,501.68. This represents a 14.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 25,442 shares of company stock valued at $436,883. 2.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Orthofix Medical

A number of large investors have recently added to or reduced their stakes in the stock. Lazard Asset Management LLC acquired a new position in Orthofix Medical in the 4th quarter valued at $45,000. R Squared Ltd bought a new position in shares of Orthofix Medical in the fourth quarter worth $50,000. KLP Kapitalforvaltning AS acquired a new position in Orthofix Medical in the fourth quarter valued at about $112,000. Tower Research Capital LLC TRC raised its stake in Orthofix Medical by 120.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 8,458 shares of the medical device company’s stock valued at $148,000 after purchasing an additional 4,627 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in 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 purchasing an additional 559 shares during the period. Institutional investors and hedge funds own 89.76% of the company’s stock.

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.