Cantor Fitzgerald analyst Craig Bijou reiterated a Buy rating on Orthofix (NASDAQ: OFIX) yesterday and set a price target of $66. The company’s shares closed yesterday at $61.87, close to its 52-week high of $61.98.
Bijou wrote:
“: We reiterate our Overweight rating on OFIX shares and raise our 12-month PT to $66 from $62 as SMID multiples have expanded recently. OFIX missed consensus sales by $3MM due to multiple issues, some that are transitory (~$2.5MM of impact) and have already been rectified and others that will likely linger for the rest of 2018. Despite the top-line miss, EPS beat consensus by $0.06, inclusive of $0.03 dilution from the recent Spinal Kinetics acquisition. OFIX lowered its 2018 sales guidance by $8MM, but raised its EPS guidance to $1.66-1.72 from $1.58-1.68. The sales miss and lower guidance raise concerns, and we would like to see sequential progress on the sales disruptions.”
According to TipRanks.com, Bijou is a 4-star analyst with an average return of 22.5% and a 78.6% success rate. Bijou covers the Healthcare sector, focusing on stocks such as Zimmer Biomet Holdings, Integra Lifesciences, and Wright Medical Group.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Orthofix with a $64 average price target.
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The company has a one-year high of $61.98 and a one-year low of $46.02. Currently, Orthofix has an average volume of 144.7K.
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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.
