Analyst Michael Petusky from Barrington maintained a Buy rating on Orthofix and keeping the price target at $17.00.
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Michael Petusky has given his Buy rating due to a combination of factors that highlight Orthofix’s strategic positioning and growth potential. The company is actively enhancing its U.S. spine distribution network, capitalizing on opportunities created by competitors exiting the market, which is expected to be largely completed soon. Additionally, the significant growth in placements of the 7D Flash Navigation System indicates strong market acceptance and is contributing positively to revenue.
Orthofix is also gaining market share in its bone growth therapies segment, with expectations to outperform industry growth rates. The orthopedics business is showing robust growth, driven by innovative products like the Truelok Elevate TBT. Furthermore, the company’s focus on internal investment and potential for mergers and acquisitions, supported by a solid balance sheet and improving cash flows, underpins its growth strategy. These elements collectively justify the Buy rating, with a price target set at $17.
According to TipRanks, Petusky is a 2-star analyst with an average return of 0.3% and a 43.48% success rate. Petusky covers the Healthcare sector, focusing on stocks such as Option Care Health, Haemonetics, and Lifecore Biomedical.