Orthofix Medical (NASDAQ:OFIX) Stock Price Crosses Above 200-Day Moving Average – What’s Next?

by · The Markets Daily

Orthofix Medical Inc. (NASDAQ:OFIX – Get Free Report)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $15.53 and traded as high as $18.44. Orthofix Medical shares last traded at $18.29, with a volume of 201,159 shares.

Analysts Set New Price Targets

OFIX has been the subject of a number of research analyst reports. Roth Mkm reaffirmed a “buy” rating and set a $22.00 target price (up from $20.00) on shares of Orthofix Medical in a research report on Friday, November 8th. Stifel Nicolaus upgraded shares of Orthofix Medical from a “hold” rating to a “buy” rating and increased their target price for the stock from $18.00 to $24.00 in a report on Friday, November 8th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $23.00.

Get Our Latest Report on Orthofix Medical

Orthofix Medical Stock Up 0.7 %

The company has a debt-to-equity ratio of 0.25, a current ratio of 2.39 and a quick ratio of 1.11. The company has a market cap of $721.10 million, a PE ratio of -6.03 and a beta of 1.05. The business’s fifty day simple moving average is $16.55 and its two-hundred day simple moving average is $15.59.

Institutional Trading of Orthofix Medical

Institutional investors have recently bought and sold shares of the business. BNP Paribas Financial Markets boosted its stake in shares of Orthofix Medical by 190.5% in the first quarter. BNP Paribas Financial Markets now owns 34,602 shares of the medical device company’s stock worth $502,000 after acquiring an additional 22,690 shares during the last quarter. State Board of Administration of Florida Retirement System increased its stake in Orthofix Medical by 34.7% during the first quarter. State Board of Administration of Florida Retirement System now owns 13,562 shares of the medical device company’s stock worth $197,000 after acquiring an additional 3,490 shares during the last quarter. Vanguard Group Inc. raised its position in Orthofix Medical by 0.5% in the first quarter. Vanguard Group Inc. now owns 2,008,816 shares of the medical device company’s stock valued at $29,168,000 after purchasing an additional 9,150 shares during the period. Gamco Investors INC. ET AL grew its holdings in shares of Orthofix Medical by 21.0% during the 1st quarter. Gamco Investors INC. ET AL now owns 149,200 shares of the medical device company’s stock worth $2,166,000 after purchasing an additional 25,900 shares during the period. Finally, Gabelli Funds LLC increased its position in shares of Orthofix Medical by 4.7% during the 1st quarter. Gabelli Funds LLC now owns 146,000 shares of the medical device company’s stock worth $2,120,000 after purchasing an additional 6,500 shares during the last quarter. 89.76% of the stock is owned by institutional investors and hedge funds.

About Orthofix Medical

(Get Free Report)

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.

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