Orthofix Medical’s (OFIX) Market Perform Rating Reiterated at JMP Securities

JMP Securities reaffirmed their market perform rating on shares of Orthofix Medical (NASDAQ:OFIX) in a report released on Friday morning,Benzinga reports.

OFIX has been the topic of several other reports. Canaccord Genuity Group reiterated a “buy” rating and issued a $24.00 price objective on shares of Orthofix Medical in a report on Wednesday, February 26th. Roth Mkm restated a “buy” rating and issued a $22.00 price objective on shares of Orthofix Medical in a report on Wednesday, February 26th. Finally, Wall Street Zen cut Orthofix Medical from a “buy” rating to a “hold” rating in a research note on Wednesday, May 7th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Orthofix Medical currently has an average rating of “Hold” and a consensus target price of $23.33.

Orthofix Medical Trading Up 2.4%

Orthofix Medical stock opened at $10.97 on Friday. The company has a market capitalization of $429.82 million, a price-to-earnings ratio of -3.50 and a beta of 0.80. The stock has a 50-day moving average price of $12.82 and a 200 day moving average price of $16.03. 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 52 week low of $10.50 and a 52 week high of $20.73.

Insider Buying and Selling

In related news, major shareholder Engine Capital Management, Lp acquired 100,000 shares of the business’s stock in a transaction on Wednesday, May 7th. The shares were bought at an average price of $12.31 per share, with a total value of $1,231,000.00. Following the completion of the acquisition, the insider now owns 3,544,807 shares in the company, valued at $43,636,574.17. This trade represents a 2.90% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Massimo Calafiore acquired 10,000 shares of Orthofix Medical stock in a transaction dated Friday, May 9th. The shares were bought at an average price of $12.54 per share, with a total value of $125,400.00. Following the transaction, the chief executive officer now directly owns 234,603 shares in the company, valued at approximately $2,941,921.62. The trade was a 4.45% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 112,250 shares of company stock worth $1,380,970 and sold 8,475 shares worth $128,065. Insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Orthofix Medical

Several hedge funds have recently made changes to their positions in OFIX. Juniper Investment Company LLC lifted its holdings in shares of Orthofix Medical by 123.5% in the 4th quarter. Juniper Investment Company LLC now owns 1,937,249 shares of the medical device company’s stock valued at $33,824,000 after purchasing an additional 1,070,656 shares during the last quarter. Philosophy Capital Management LLC purchased a new stake in Orthofix Medical in the first quarter valued at approximately $6,047,000. Engine Capital Management LP boosted its holdings in shares of Orthofix Medical by 8.4% in the first quarter. Engine Capital Management LP now owns 3,741,390 shares of the medical device company’s stock valued at $61,022,000 after acquiring an additional 290,646 shares during the period. JPMorgan Chase & Co. grew its position in shares of Orthofix Medical by 244.1% during the fourth quarter. JPMorgan Chase & Co. now owns 290,351 shares of the medical device company’s stock worth $5,070,000 after acquiring an additional 205,972 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Orthofix Medical by 31.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 659,475 shares of the medical device company’s stock worth $11,515,000 after acquiring an additional 159,177 shares during the last quarter. Hedge funds and other institutional investors 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.