Short Interest in Orthofix Medical Inc. (NASDAQ:OFIX) Increases By 43.4%

Orthofix Medical Inc. (NASDAQ:OFIX) was the recipient of a large increase in short interest in May. As of May 31st, there was short interest totalling 1,430,000 shares, an increase of 43.4% from the May 15th total of 997,300 shares. Approximately 3.8% of the shares of the company are short sold. Based on an average daily volume of 357,600 shares, the days-to-cover ratio is currently 4.0 days.

Orthofix Medical Trading Down 0.2%

Shares of NASDAQ OFIX traded down $0.02 during trading on Tuesday, hitting $10.91. 32,400 shares of the company were exchanged, compared to its average volume of 275,133. The company has a fifty day moving average price of $12.38 and a 200-day moving average price of $15.70. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.11 and a current ratio of 2.39. The firm has a market capitalization of $427.43 million, a PE ratio of -3.48 and a beta of 0.80. Orthofix Medical has a 12-month low of $10.50 and a 12-month high of $20.73.

Insider Activity

In other Orthofix Medical news, CEO Massimo Calafiore bought 10,000 shares of the firm’s stock in a transaction dated Friday, May 9th. The shares were purchased at an average price of $12.54 per share, for a total transaction of $125,400.00. Following the transaction, the chief executive officer now directly owns 234,603 shares of the company’s stock, valued at approximately $2,941,921.62. This represents a 4.45% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jorge Andres Cedron sold 3,816 shares of Orthofix Medical stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $13.31, for a total transaction of $50,790.96. Following the completion of the sale, the insider now directly owns 42,500 shares in the company, valued at $565,675. This represents a 8.24% decrease in their position. The disclosure for this sale can be found here. Insiders bought a total of 112,250 shares of company stock valued at $1,380,970 in the last three months. 1.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Orthofix Medical

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Strs Ohio acquired a new stake in shares of Orthofix Medical during the 1st quarter worth about $150,000. Jane Street Group LLC purchased a new position in Orthofix Medical during the first quarter worth about $1,076,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Orthofix Medical in the 1st quarter valued at approximately $575,000. Philosophy Capital Management LLC purchased a new stake in shares of Orthofix Medical in the 1st quarter valued at approximately $6,047,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Orthofix Medical by 6.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,561 shares of the medical device company’s stock worth $335,000 after acquiring an additional 1,213 shares during the last quarter. Institutional investors and hedge funds own 89.76% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on OFIX shares. JMP Securities reissued a “market perform” rating on shares of Orthofix Medical in a research note on Friday, June 6th. Wall Street Zen raised Orthofix Medical from a “sell” rating to a “hold” rating in a report on Saturday. Roth Mkm reaffirmed a “buy” rating and issued a $22.00 price target on shares of Orthofix Medical in a research note on Wednesday, February 26th. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $24.00 price objective on shares of Orthofix Medical in a report on Wednesday, February 26th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $23.33.

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.