Orthofix Medical (NASDAQ:OFIX) Stock Crosses Above 200 Day Moving Average – Time to Sell?

Shares of Orthofix Medical Inc. (NASDAQ:OFIX) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred 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 changing hands.

Analyst Ratings Changes

A number of analysts recently weighed in on OFIX shares. Stifel Nicolaus upgraded shares of Orthofix Medical from a “hold” rating to a “buy” rating and upped their target price for the stock from $18.00 to $24.00 in a research note on Friday, November 8th. Roth Mkm reissued a “buy” rating and issued a $22.00 price objective (up from $20.00) on shares of Orthofix Medical in a research report on Friday, November 8th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Orthofix Medical presently has an average rating of “Moderate Buy” and an average target price of $23.00.

Orthofix Medical Trading Up 0.7 %

The business’s 50-day moving average price is $16.55 and its 200-day moving average price is $15.59. The firm has a market capitalization of $721.10 million, a PE ratio of -6.03 and a beta of 1.05. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.39 and a quick ratio of 1.11.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of OFIX. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of 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 worth $156,000 after buying an additional 559 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Orthofix Medical by 3.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 32,957 shares of the medical device company’s stock valued at $479,000 after purchasing an additional 1,236 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of Orthofix Medical by 4.4% during the second quarter. AQR Capital Management LLC now owns 31,863 shares of the medical device company’s stock worth $423,000 after purchasing an additional 1,336 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of 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 worth $125,000 after purchasing an additional 1,919 shares during the period. Finally, nVerses Capital LLC purchased a new position in Orthofix Medical in the 2nd quarter valued at $27,000. 89.76% of the stock is owned by hedge funds and other institutional investors.

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.