Orthofix reinstated with a Buy at BTIG

BTIG reinstated coverage of Orthofix with a Buy rating and $27 price target. The combined Orthofix and SeaSpine provides investors with a small-cap play in orthopedics and spine “at a very reasonable valuation,” the analyst tells investors in a research note. The firm says upside in shares is likely to come from share gains in the legacy spine business, higher-growth submarkets and SeaSpine’s legacy bone growth stimulator business. BTIG says the stock is “currently too inexpensive to ignore.”