Orthofix Medical Inc. (NASDAQ:OFIX) Short Interest Update

Orthofix Medical Inc. (NASDAQ:OFIX) was the target of a significant drop in short interest in the month of January. As of January 15th, there was short interest totalling 790,300 shares, a drop of 26.8% from the December 31st total of 1,080,000 shares. Based on an average daily volume of 255,400 shares, the short-interest ratio is currently 3.1 days.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on OFIX shares. Roth Mkm restated a “buy” rating and set a $22.00 price objective (up previously from $20.00) on shares of Orthofix Medical in a report on Friday, November 8th. Stifel Nicolaus upgraded Orthofix Medical from a “hold” rating to a “buy” rating and boosted their price target for the company from $18.00 to $24.00 in a research note on Friday, November 8th. StockNews.com upgraded Orthofix Medical from a “hold” rating to a “buy” rating in a research report on Friday. Finally, Canaccord Genuity Group initiated coverage on shares of Orthofix Medical in a research report on Wednesday, January 22nd. They issued a “buy” rating and a $24.00 target price for the company. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $23.33.

Orthofix Medical Stock Down 0.3 %

Shares of OFIX stock opened at $18.65 on Friday. Orthofix Medical has a 1 year low of $12.08 and a 1 year high of $20.73. 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 50 day simple moving average of $18.08 and a 200 day simple moving average of $17.06.

Orthofix Medical (NASDAQ:OFIX) last released its earnings results on Thursday, November 7th. The medical device company reported ($0.71) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.57). Orthofix Medical had a negative net margin of 15.18% and a negative return on equity of 21.25%. The company had revenue of $196.61 million for the quarter, compared to the consensus estimate of $196.60 million. During the same quarter in the previous year, the company posted ($0.77) earnings per share. Equities analysts expect that Orthofix Medical will post -2.81 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Massimo Calafiore sold 9,203 shares of the firm’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $17.14, for a total transaction of $157,739.42. Following the completion of the sale, the chief executive officer now owns 124,151 shares in the company, valued at approximately $2,127,948.14. This trade represents a 6.90 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Julie Andrews sold 4,655 shares of the company’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $17.89, for a total transaction of $83,277.95. Following the completion of the transaction, the chief financial officer now owns 28,312 shares in the company, valued at approximately $506,501.68. This trade represents a 14.12 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 24,675 shares of company stock worth $423,238. Company insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Orthofix Medical

A number of large investors have recently bought and sold shares of the company. R Squared Ltd bought a new stake in shares of Orthofix Medical during the 4th quarter worth approximately $50,000. Zurcher Kantonalbank Zurich Cantonalbank raised 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 valued at $156,000 after purchasing an additional 559 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in Orthofix Medical during the third quarter valued at approximately $216,000. Quest Partners LLC lifted its stake in Orthofix Medical by 187.1% during the third quarter. Quest Partners LLC now owns 13,908 shares of the medical device company’s stock worth $217,000 after purchasing an additional 9,063 shares during the last quarter. Finally, SG Americas Securities LLC boosted its holdings in shares of Orthofix Medical by 74.0% in the 3rd quarter. SG Americas Securities LLC now owns 17,117 shares of the medical device company’s stock valued at $267,000 after purchasing an additional 7,278 shares in the last quarter. 89.76% of the stock is currently owned by institutional investors and hedge funds.

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.