BTIG Maintains a Buy Rating on Orthofix (OFIX)


BTIG analyst Ryan Zimmerman maintained a Buy rating on Orthofix (OFIX) on February 7 and set a price target of $63. The company’s shares closed on Friday at $60.42.

Zimmerman observed:

“Raising PT to $63 from $61 This morning, OFIX announced that the FDA had granted M6-C disc for the treatment of degenerative disc disease in the cervical region of the spine. Our original expectation was for the disc to be approved in mid-2019 with sales ramping through the 2H19. Given that the approval came in February (months ahead of previous assumptions) we expect that there may be upside to spine revenue in 2Q (with some minor potential in 1Q). We initially profiled the disc in a KOL call in September 2018 (See our note here) where we established our positive view on the spinal disc market and specifically the M6-C, as clinical data on the disc demonstrated meaningful improvement in pain and lowered disability when compared to ACDF.”

According to TipRanks.com, Zimmerman is a 5-star analyst with an average return of 25.0% and a 68.4% success rate. Zimmerman covers the Healthcare sector, focusing on stocks such as OrthoPediatrics Corp, Stryker Corporation, and Globus Medical.

Currently, the analyst consensus on Orthofix is a Strong Buy with an average price target of $63.33, a 4.8% upside from current levels. In a report issued on February 7, Cantor Fitzgerald also maintained a Buy rating on the stock with a $60 price target.

See today’s analyst top recommended stocks >>

Orthofix’s market cap is currently $1.12B and has a P/E ratio of 170.58. The company has a Price to Book ratio of 3.46.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Orthofix Medical, Inc. engages in the research, development, and market of orthopedic solutions. It operates through the following business segments: BioStim, Biologics, Extremity Fixation, and Spine Fixation. The BioStim segment produces and sells devices for bone fusion enhancement in cervical and lumbar spine through the pulsed electromagnetic technology.

Stay Ahead of Everyone Else

Get The Latest Stock News Alerts