Orthofix initiated with a Buy at Canaccord

Canaccord initiated coverage of Orthofix (OFIX) with a Buy rating and $24 price target With over two years passed since its merger with SeaSpine and a new management team in place as of early 2024, Orthofix “has done the hard work” to integrate the two portfolios and is now positioned to move forward with its new long-range plan and a cohesive strategy, the analyst tells investors in a research note. The firm says it is encouraged by not only Orthofix’s “unique and comprehensive offering,” but its plans for continued innovation and leveraging of its entire portfolio to drive commercial momentum across its sub-segments.