Orthofix, the Healthcare sector company, was revisited by a Wall Street analyst yesterday. Analyst Caitlin Cronin from Canaccord Genuity maintained a Buy rating on the stock and has a $24.00 price target.
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Caitlin Cronin’s rating is based on Orthofix’s strategic initiatives and promising growth prospects. The company is actively working to enhance its product offerings and expand its market presence through targeted new product launches across spine, bone growth therapies (BGT), and orthopedic segments. These efforts are supported by recent FDA approvals and product innovations, which are expected to drive market penetration and differentiation.
Moreover, Orthofix’s financial performance and valuation are compelling factors. The company reported strong revenue growth and exceeded consensus estimates in its recent financial results. With a focus on cash generation and margin expansion, Orthofix aims for profitable growth. Its current valuation is considered attractive, trading below peer group averages, which supports the Buy rating.
According to TipRanks, Cronin is a 3-star analyst with an average return of 3.7% and a 51.00% success rate. Cronin covers the Healthcare sector, focusing on stocks such as Globus Medical, Zimmer Biomet Holdings, and InMode.
In another report released on August 6, Barrington also maintained a Buy rating on the stock with a $17.00 price target.