Orthofix Medical (NASDAQ:OFIX) Insider Sells $50,886.48 in Stock

Orthofix Medical Inc. (NASDAQ:OFIX) insider Lucas Vitale sold 4,269 shares of the firm’s stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $11.92, for a total value of $50,886.48. Following the completion of the sale, the insider directly owned 160,449 shares of the company’s stock, valued at $1,912,552.08. This represents a 2.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Orthofix Medical Stock Performance

Shares of NASDAQ OFIX traded down $0.16 during trading on Thursday, reaching $11.70. 218,380 shares of the stock traded hands, compared to its average volume of 262,411. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.45 and a quick ratio of 1.43. The stock has a market capitalization of $469.64 million, a P/E ratio of -5.00 and a beta of 0.75. Orthofix Medical Inc. has a 52-week low of $10.24 and a 52-week high of $17.00. The company has a 50-day moving average of $13.33 and a 200-day moving average of $14.51.

Orthofix Medical (NASDAQ:OFIX) last announced its quarterly earnings data on Tuesday, February 24th. The medical device company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.50). Orthofix Medical had a negative return on equity of 20.38% and a negative net margin of 11.21%.The firm had revenue of $219.91 million during the quarter, compared to analysts’ expectations of $218.72 million. Analysts forecast that Orthofix Medical Inc. will post -2.81 EPS for the current fiscal year.

Institutional Investors Weigh In On Orthofix Medical

Institutional investors and hedge funds have recently modified their holdings of the company. CWM LLC boosted its position in shares of Orthofix Medical by 99.0% in the third quarter. CWM LLC now owns 1,920 shares of the medical device company’s stock valued at $28,000 after acquiring an additional 955 shares during the period. State of Alaska Department of Revenue bought a new stake in Orthofix Medical during the 3rd quarter worth approximately $30,000. Kestra Advisory Services LLC bought a new stake in Orthofix Medical during the 4th quarter worth approximately $56,000. Mackenzie Financial Corp purchased a new stake in Orthofix Medical in the 3rd quarter worth approximately $148,000. Finally, Strs Ohio bought a new position in Orthofix Medical in the 1st quarter valued at $150,000. 89.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on OFIX shares. Stifel Nicolaus lowered their price target on shares of Orthofix Medical from $22.00 to $18.00 and set a “buy” rating on the stock in a research report on Monday, March 9th. TD Cowen began coverage on shares of Orthofix Medical in a report on Tuesday, January 27th. They issued a “hold” rating and a $14.00 price objective for the company. Barrington Research reduced their price objective on shares of Orthofix Medical from $18.00 to $17.00 and set an “outperform” rating for the company in a research note on Wednesday, February 25th. Canaccord Genuity Group lowered their target price on shares of Orthofix Medical from $24.00 to $20.00 and set a “buy” rating on the stock in a report on Thursday, February 26th. Finally, Wall Street Zen raised Orthofix Medical from a “hold” rating to a “buy” rating in a report on Saturday, March 7th. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Orthofix Medical has an average rating of “Hold” and a consensus target price of $17.25.

About Orthofix Medical

Orthofix Medical Inc (NASDAQ: OFIX) is a global medical device company focused on the design and development of innovative orthopedic and spinal solutions. The company’s core business is divided into two segments: spine and orthopedics. In the spine segment, Orthofix offers a range of titanium implants, biologics and portable bone growth stimulation devices designed to support spinal fusion, deformity correction and minimally invasive procedures. Its orthopedic segment encompasses products for fracture fixation, external fixation systems, trauma care and sports medicine, providing surgeons with implantable devices and instruments for complex bone reconstruction and healing.

Orthofix’s product portfolio includes strut systems, bone growth stimulators, interbody fusion devices and fixation hardware that address various indications such as degenerative disc disease, spinal deformities, non-unions and long-bone fractures.