Orthofix Medical Inc. (NASDAQ:OFIX) Receives Average Recommendation of “Hold” from Analysts

Orthofix Medical Inc. (NASDAQ:OFIX) has earned a consensus rating of “Hold” from the five research firms that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and three have given a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $15.50.

A number of research firms recently weighed in on OFIX. Barrington Research lowered their price target on shares of Orthofix Medical from $17.00 to $15.00 and set an “outperform” rating on the stock in a research report on Friday, May 22nd. Wall Street Zen lowered shares of Orthofix Medical from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. TD Cowen restated a “hold” rating on shares of Orthofix Medical in a research report on Thursday, May 21st. Weiss Ratings restated a “sell (d-)” rating on shares of Orthofix Medical in a research report on Tuesday, April 21st. Finally, Canaccord Genuity Group lowered their price target on shares of Orthofix Medical from $20.00 to $18.00 and set a “buy” rating on the stock in a research report on Thursday, May 21st.

Orthofix Medical Stock Up 0.9%

Shares of NASDAQ OFIX opened at $9.31 on Monday. The company’s 50-day simple moving average is $11.36 and its 200-day simple moving average is $13.04. Orthofix Medical has a 52-week low of $9.13 and a 52-week high of $16.99. The firm has a market cap of $376.31 million, a price-to-earnings ratio of -6.17 and a beta of 0.71. The company has a quick ratio of 1.76, a current ratio of 2.87 and a debt-to-equity ratio of 0.54.

Orthofix Medical (NASDAQ:OFIX) last announced its earnings results on Tuesday, May 5th. The medical device company reported ($0.52) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.68) by $0.16. Orthofix Medical had a negative net margin of 7.27% and a negative return on equity of 13.44%. The business had revenue of $196.71 million for the quarter, compared to analyst estimates of $196.40 million. Equities analysts predict that Orthofix Medical will post -1.48 EPS for the current fiscal year.

Insider Buying and Selling at Orthofix Medical

In related news, insider Jorge Andres Cedron sold 3,743 shares of the business’s stock in a transaction dated Thursday, April 16th. The shares were sold at an average price of $12.82, for a total transaction of $47,985.26. Following the transaction, the insider directly owned 59,006 shares in the company, valued at approximately $756,456.92. The trade was a 5.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, major shareholder Engine Capital Management, Lp purchased 112,950 shares of the stock in a transaction that occurred on Tuesday, May 5th. The shares were acquired at an average price of $11.99 per share, for a total transaction of $1,354,270.50. Following the completion of the transaction, the insider directly owned 3,783,131 shares of the company’s stock, valued at $45,359,740.69. The trade was a 3.08% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders have bought 189,896 shares of company stock valued at $2,293,970. Insiders own 2.70% of the company’s stock.

Hedge Funds Weigh In On Orthofix Medical

A number of institutional investors have recently bought and sold shares of OFIX. Paradigm Capital Management Inc. NY raised its stake in Orthofix Medical by 34.6% during the second quarter. Paradigm Capital Management Inc. NY now owns 3,340,600 shares of the medical device company’s stock worth $37,248,000 after purchasing an additional 858,900 shares during the period. Millennium Management LLC raised its stake in Orthofix Medical by 86.6% during the third quarter. Millennium Management LLC now owns 1,475,718 shares of the medical device company’s stock worth $21,605,000 after purchasing an additional 684,850 shares during the period. Juniper Investment Company LLC raised its stake in Orthofix Medical by 23.3% during the fourth quarter. Juniper Investment Company LLC now owns 3,510,333 shares of the medical device company’s stock worth $53,217,000 after purchasing an additional 663,278 shares during the period. Bank of America Corp DE raised its stake in Orthofix Medical by 659.5% during the second quarter. Bank of America Corp DE now owns 687,410 shares of the medical device company’s stock worth $7,665,000 after purchasing an additional 596,907 shares during the period. Finally, Armistice Capital LLC raised its stake in shares of Orthofix Medical by 18.4% in the 4th quarter. Armistice Capital LLC now owns 2,648,000 shares of the medical device company’s stock valued at $40,144,000 after acquiring an additional 412,000 shares during the period. 89.76% of the stock is owned by hedge funds and other institutional investors.

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.