Orthofix Medical Inc. (NASDAQ:OFIX) Given Average Rating of “Hold” by Analysts

Shares of Orthofix Medical Inc. (NASDAQ:OFIX) have been assigned a consensus rating of “Hold” from the five brokerages that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $16.00.

Several research firms have weighed in on OFIX. Canaccord Genuity Group dropped their price objective on Orthofix Medical from $20.00 to $18.00 and set a “buy” rating for the company in a report on Thursday, May 21st. Weiss Ratings reissued a “sell (d-)” rating on shares of Orthofix Medical in a research note on Tuesday, April 21st. Wall Street Zen lowered Orthofix Medical from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Barrington Research lifted their price target on shares of Orthofix Medical from $15.00 to $17.00 and gave the company an “outperform” rating in a report on Monday. Finally, TD Cowen reissued a “hold” rating on shares of Orthofix Medical in a research report on Thursday, May 21st.

Insider Activity at Orthofix Medical

In related news, major shareholder Engine Capital Management, Lp bought 30,000 shares of the business’s stock in a transaction dated Thursday, May 7th. The shares were purchased at an average price of $12.18 per share, with a total value of $365,400.00. Following the purchase, the insider owned 3,848,573 shares of the company’s stock, valued at approximately $46,875,619.14. This trade represents a 0.79% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jorge Andres Cedron sold 3,743 shares of the stock in a transaction dated Thursday, April 16th. The stock was sold at an average price of $12.82, for a total transaction of $47,985.26. Following the completion of the transaction, the insider directly owned 59,006 shares of the company’s stock, valued at approximately $756,456.92. The trade was a 5.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders bought 189,896 shares of company stock valued at $2,293,970. 2.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in OFIX. Juniper Investment Company LLC lifted its position in Orthofix Medical by 15.3% during the third quarter. Juniper Investment Company LLC now owns 2,847,055 shares of the medical device company’s stock valued at $41,681,000 after buying an additional 377,729 shares during the period. Tudor Investment Corp ET AL grew its position in shares of Orthofix Medical by 268.8% in the 3rd quarter. Tudor Investment Corp ET AL now owns 217,044 shares of the medical device company’s stock worth $3,178,000 after buying an additional 158,197 shares during the period. JPMorgan Chase & Co. grew its position in shares of Orthofix Medical by 33.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 258,035 shares of the medical device company’s stock worth $3,778,000 after buying an additional 64,486 shares during the period. Armistice Capital LLC increased 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 worth $40,144,000 after acquiring an additional 412,000 shares in the last quarter. Finally, Global Strategic Investment Solutions LLC bought a new position in shares of Orthofix Medical in the 1st quarter worth about $664,000. Institutional investors own 89.76% of the company’s stock.

Orthofix Medical Stock Performance

Orthofix Medical stock opened at $11.48 on Friday. The firm has a fifty day simple moving average of $10.46 and a two-hundred day simple moving average of $12.23. 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 has a twelve month low of $8.85 and a twelve month high of $16.99. The company has a market capitalization of $464.02 million, a PE ratio of -7.60 and a beta of 0.71.

Orthofix Medical (NASDAQ:OFIX) last issued its earnings results on Tuesday, May 5th. The medical device company reported ($0.52) EPS for the quarter, topping the consensus estimate of ($0.68) by $0.16. The company had revenue of $196.71 million for the quarter, compared to the consensus estimate of $196.40 million. Orthofix Medical had a negative net margin of 7.27% and a negative return on equity of 13.44%. Research analysts expect that Orthofix Medical will post -1.37 EPS for the current year.

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.