Aviva Mcpherron Sells 3,670 Shares of Orthofix Medical (NASDAQ:OFIX) Stock

Orthofix Medical Inc. (NASDAQ:OFIX) insider Aviva Mcpherron sold 3,670 shares of the company’s stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $9.38, for a total transaction of $34,424.60. Following the sale, the insider owned 66,330 shares of the company’s stock, valued at approximately $622,175.40. The trade was a 5.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Orthofix Medical Trading Up 1.7%

NASDAQ OFIX opened at $9.10 on Wednesday. Orthofix Medical Inc. has a 1-year low of $8.85 and a 1-year high of $16.99. The company has a current ratio of 2.87, a quick ratio of 1.76 and a debt-to-equity ratio of 0.54. The stock has a 50-day moving average of $10.98 and a 200-day moving average of $12.69. The firm has a market cap of $367.84 million, a PE ratio of -6.03 and a beta of 0.72.

Orthofix Medical (NASDAQ:OFIX) last announced its quarterly earnings data on Tuesday, May 5th. The medical device company reported ($0.52) earnings per share for the quarter, beating the consensus estimate of ($0.68) by $0.16. Orthofix Medical had a negative return on equity of 13.44% and a negative net margin of 7.27%.The firm had revenue of $196.71 million during the quarter, compared to the consensus estimate of $196.40 million. As a group, sell-side analysts forecast that Orthofix Medical Inc. will post -1.48 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on OFIX shares. Stifel Nicolaus decreased their price objective on shares of Orthofix Medical from $18.00 to $15.00 and set a “buy” rating on the stock in a research report on Friday, May 22nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Orthofix Medical in a research note on Tuesday, April 21st. Canaccord Genuity Group decreased their target price on Orthofix Medical from $20.00 to $18.00 and set a “buy” rating for the company in a report on Thursday, May 21st. TD Cowen reaffirmed a “hold” rating on shares of Orthofix Medical in a research note on Thursday, May 21st. Finally, Wall Street Zen cut shares of Orthofix Medical from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Orthofix Medical has a consensus rating of “Hold” and a consensus price target of $15.50.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in OFIX. AQR Capital Management LLC boosted its position in shares of Orthofix Medical by 67.7% during the first quarter. AQR Capital Management LLC now owns 20,409 shares of the medical device company’s stock valued at $333,000 after purchasing an additional 8,241 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Orthofix Medical by 6.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,561 shares of the medical device company’s stock valued at $335,000 after buying an additional 1,213 shares during the period. Jane Street Group LLC purchased a new position in Orthofix Medical during the first quarter valued at $1,076,000. Strs Ohio bought a new stake in shares of Orthofix Medical during the 1st quarter valued at $150,000. Finally, JPMorgan Chase & Co. grew its position in shares of Orthofix Medical by 15.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 193,549 shares of the medical device company’s stock worth $2,158,000 after buying an additional 26,123 shares during the period. Hedge funds and other institutional investors own 89.76% of the company’s stock.

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.