Cantor Fitzgerald Analysts Give Orthofix Medical (OFIX) a $66.00 Price Target

Cantor Fitzgerald set a $66.00 target price on Orthofix Medical (NASDAQ:OFIX) in a report issued on Tuesday morning. The firm currently has a buy rating on the medical device company’s stock.

OFIX has been the subject of a number of other research reports. BidaskClub lowered Orthofix Medical from a strong-buy rating to a buy rating in a report on Wednesday, September 12th. TheStreet raised Orthofix Medical from a c+ rating to a b- rating in a report on Monday, September 10th. Finally, Zacks Investment Research raised Orthofix Medical from a hold rating to a strong-buy rating and set a $70.00 target price for the company in a report on Thursday, November 1st. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Orthofix Medical has a consensus rating of Buy and a consensus target price of $67.67.

NASDAQ OFIX traded down $0.27 during mid-day trading on Tuesday, hitting $50.91. The company’s stock had a trading volume of 5,395 shares, compared to its average volume of 139,252. Orthofix Medical has a twelve month low of $47.79 and a twelve month high of $63.57. The company has a market cap of $951.86 million, a P/E ratio of 31.34, a PEG ratio of 2.88 and a beta of 0.47.



Orthofix Medical (NASDAQ:OFIX) last issued its quarterly earnings data on Monday, October 29th. The medical device company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.09. Orthofix Medical had a return on equity of 10.97% and a net margin of 1.45%. The business had revenue of $111.70 million for the quarter, compared to analysts’ expectations of $110.65 million. During the same period last year, the business earned $0.42 EPS. The business’s revenue was up 6.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Orthofix Medical will post 1.75 EPS for the current fiscal year.

In related news, Director Luke T. Faulstick sold 8,450 shares of the company’s stock in a transaction on Friday, November 2nd. The stock was sold at an average price of $61.05, for a total value of $515,872.50. Following the sale, the director now directly owns 7,129 shares of the company’s stock, valued at $435,225.45. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Rice Doug sold 6,057 shares of the company’s stock in a transaction on Friday, November 2nd. The stock was sold at an average price of $61.25, for a total value of $370,991.25. Following the completion of the sale, the chief financial officer now directly owns 26,511 shares in the company, valued at $1,623,798.75. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,894 shares of company stock valued at $1,338,065. 5.60% of the stock is owned by insiders.

A number of hedge funds have recently modified their holdings of OFIX. SG Americas Securities LLC grew its stake in shares of Orthofix Medical by 151.9% in the second quarter. SG Americas Securities LLC now owns 6,455 shares of the medical device company’s stock worth $367,000 after acquiring an additional 3,892 shares during the last quarter. First Quadrant L P CA purchased a new stake in shares of Orthofix Medical in the third quarter worth $122,000. Bank of Montreal Can boosted its position in shares of Orthofix Medical by 32.2% during the third quarter. Bank of Montreal Can now owns 45,020 shares of the medical device company’s stock valued at $2,603,000 after buying an additional 10,956 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of Orthofix Medical by 3.2% during the second quarter. Renaissance Technologies LLC now owns 677,500 shares of the medical device company’s stock valued at $38,496,000 after buying an additional 21,021 shares during the last quarter. Finally, Krensavage Asset Management LLC boosted its position in shares of Orthofix Medical by 3.2% during the third quarter. Krensavage Asset Management LLC now owns 309,708 shares of the medical device company’s stock valued at $17,904,000 after buying an additional 9,659 shares during the last quarter. 93.85% of the stock is currently owned by institutional investors.

Orthofix Medical Company Profile

Orthofix Medical Inc, a medical device company, provides musculoskeletal healing products and value-added services worldwide. It operates through four segments: BioStim, Extremity Fixation, Spine Fixation, and Biologics. The BioStim segment manufactures, distributes, and provides support services for bone growth stimulator devices that enhance bone fusion and are indicated as treatment to enhance fusion success rates in cervical and lumbar spine, as well as a therapeutic treatment for non-spine fractures.

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