Cantor Fitzgerald analyst Craig Bijou maintained a Buy rating on Orthofix (OFIX) today and set a price target of $66. The company’s shares opened today at $49.21, close to its 52-week low of $47.79.
Bijou wrote:
“We maintain our Overweight rating and 12-month PT of $66 on OFIX. OFIX has transformed its Spine Fixation business over the last few years and combined with OFIX’s biologics business, the recent acquisition of Spinal Kinetics and internal product development, we think OFIX is well-positioned to expand its distribution and accelerate top-line growth. Valuation Summary We base our 12-month price target of $66 on a 13x EV/EBITDA multiple on our 2019 EBITDA estimate.”
According to TipRanks.com, Bijou is a 1-star analyst with an average return of -2.7% and a 37.8% success rate. Bijou covers the Healthcare sector, focusing on stocks such as Zimmer Biomet Holdings, Ra Medical Systems Inc, and Integra Lifesciences.
Orthofix has an analyst consensus of Strong Buy, with a price target consensus of $64.67.
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Orthofix’s market cap is currently $911.8M and has a P/E ratio of 138.88. The company has a Price to Book ratio of 2.82.
Based on the recent corporate insider activity of 36 insiders, corporate insider sentiment is negative on the stock. Most recently, in November 2018, Luke Faulstick, a Director at OFIX sold 8,450 shares for a total of $515,861.
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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.
