12 Best Medical Device Stocks to Buy According to Analysts

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10. Orthofix Medical Inc. (NASDAQ:OFIX)

Analyst Upside: 83.85%

Number of Hedge Fund Holders: 28

Orthofix Medical Inc. (NASDAQ:OFIX) is one of the best medical device stocks to buy according to analysts. Barrington analyst Michael Petusky raised the firm’s price target on Orthofix Medical Inc. (NASDAQ:OFIX) to $17 from $16 on August 6, keeping an Outperform rating on the shares.

The analyst told investors in a research note that Orthofix Medical Inc. (NASDAQ:OFIX) reported strong fiscal Q2 results and affirmed its 2025 outlook, supporting the optimistic rating.

Orthofix Medical Inc. (NASDAQ:OFIX) announced its fiscal Q2 2025 results on August 5, reporting net sales of $203.1 million for the quarter, representing a 2% growth on a reported basis and 4% on a pro forma constant currency basis compared to Q2 2024.

U.S. Spine Fixation underwent a net sales growth of 5% and procedure volume growth of 7% compared to the same quarter last year, while Bone Growth Therapies’ net sales reached $62.6 million, representing growth of 6%.

Orthofix Medical Inc. (NASDAQ:OFIX) provides medical devices and operates through the Global Spine and Global Extremities business segments. Its Global Spine reporting segment encompasses three primary product categories: Bone Growth Therapies, Spinal Implants, and Biologics.

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