Orthofix initiated with an Outperform at Barrington

Barrington analyst Michael Petusky initiated coverage of Orthofix (OFIX) with an Outperform rating and $16 price target Orthofix is a medical technology company which operates through two reportable business segments: global spine and global orthopedics, the analyst tells investors in a research note. The firm says the company competes in spaces within medical technology that are “sizable and should demonstrate solid organic growth over the next several years.” It believes multiple expansion is likely if Orthofix begins to consistently execute against its strategic vision.