Short Interest in Orthofix Medical Inc. (NASDAQ:OFIX) Declines By 17.5%

Orthofix Medical Inc. (NASDAQ:OFIX) was the target of a large decrease in short interest in 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 trading volume of 257,600 shares, the short-interest ratio is presently 5.3 days.

Analysts Set New Price Targets

OFIX has been the topic of a number of research analyst reports. Roth Mkm restated 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 upgraded shares of Orthofix Medical from a “hold” rating to a “buy” rating and increased their price objective for the company from $18.00 to $24.00 in a research note on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $23.00.

Orthofix Medical Price Performance

NASDAQ OFIX opened at $17.96 on Friday. 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’s 50 day moving average price is $17.55 and its 200-day moving average price is $16.06. Orthofix Medical has a 52-week low of $11.86 and a 52-week high of $20.73. The company has a market cap of $686.32 million, a PE ratio of -5.74 and a beta of 1.09.

Institutional Investors Weigh In On Orthofix Medical

Hedge funds and other institutional investors have recently bought and sold shares of the company. nVerses Capital LLC purchased a new stake in Orthofix Medical during the second quarter valued at approximately $27,000. Quest Partners LLC purchased a new stake in Orthofix Medical during the second quarter valued at approximately $64,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in 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 valued at $125,000 after acquiring an additional 1,919 shares during the last quarter. Arizona State Retirement System purchased a new stake in Orthofix Medical during the second quarter valued at approximately $139,000. Finally, XTX Topco Ltd purchased a new stake in Orthofix Medical during the second quarter valued at approximately $175,000. Hedge funds and other institutional investors 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.