Q1 2024 Earnings Forecast for Orthofix Medical Inc. Issued By Roth Capital (NASDAQ:OFIX)

Orthofix Medical Inc. (NASDAQ:OFIX) – Roth Capital boosted their Q1 2024 earnings per share (EPS) estimates for Orthofix Medical in a report released on Monday, May 6th. Roth Capital analyst J. Wittes now anticipates that the medical device company will earn ($0.55) per share for the quarter, up from their previous forecast of ($0.57). The consensus estimate for Orthofix Medical’s current full-year earnings is ($1.51) per share. Roth Capital also issued estimates for Orthofix Medical’s Q2 2024 earnings at ($0.28) EPS, Q3 2024 earnings at ($0.23) EPS, Q4 2024 earnings at ($0.01) EPS, FY2024 earnings at ($1.06) EPS, FY2025 earnings at ($0.17) EPS and FY2026 earnings at $0.20 EPS.

Several other brokerages have also recently commented on OFIX. Roth Mkm upgraded shares of Orthofix Medical from a “neutral” rating to a “buy” rating and increased their target price for the stock from $15.00 to $20.00 in a report on Wednesday. StockNews.com upgraded shares of Orthofix Medical from a “sell” rating to a “hold” rating in a research note on Wednesday. Finally, JMP Securities reiterated a “market perform” rating on shares of Orthofix Medical in a report on Monday, April 22nd. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Orthofix Medical currently has an average rating of “Hold” and a consensus price target of $18.00.

Orthofix Medical Stock Up 7.3 %

NASDAQ:OFIX opened at $14.90 on Wednesday. The company has a market cap of $557.41 million, a PE ratio of -3.60 and a beta of 1.06. Orthofix Medical has a 52-week low of $9.57 and a 52-week high of $21.60. The stock has a 50-day simple moving average of $13.66 and a 200 day simple moving average of $13.03. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.20 and a current ratio of 2.54.

Orthofix Medical (NASDAQ:OFIX) last released its quarterly earnings results on Tuesday, March 5th. The medical device company reported ($0.59) earnings per share for the quarter, beating the consensus estimate of ($0.60) by $0.01. The company had revenue of $200.42 million during the quarter. Orthofix Medical had a negative net margin of 20.28% and a negative return on equity of 10.63%.

Institutional Trading of Orthofix Medical

A number of hedge funds have recently modified their holdings of the stock. Gladius Capital Management LP raised its holdings in Orthofix Medical by 55.2% in the 4th quarter. Gladius Capital Management LP now owns 2,841 shares of the medical device company’s stock valued at $38,000 after acquiring an additional 1,010 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Orthofix Medical by 30.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,516 shares of the medical device company’s stock valued at $101,000 after purchasing an additional 1,752 shares during the last quarter. State Board of Administration of Florida Retirement System bought a new position in shares of Orthofix Medical during the third quarter worth approximately $130,000. Arizona State Retirement System acquired a new stake in Orthofix Medical during the 4th quarter worth approximately $138,000. Finally, Teza Capital Management LLC bought a new stake in Orthofix Medical in the 3rd quarter valued at $133,000. Institutional investors and hedge funds own 89.76% of the company’s stock.

About Orthofix Medical

Orthofix Medical Inc operates as a spine and orthopedics company in the United States, Italy, Germany, the United Kingdom, France, Brazil, and internationally. It operates through two segments, Global Spine and Global Orthopedics. The Global Spine segment manufactures and distributes bone growth stimulator devices for enhance of bone fusion, including adjunctive and noninvasive treatment of cervical and lumbar spine, as well as a therapeutic treatment for non-spine; designs, develops, and markets a portfolio of motion preservation and fixation implant products, which are used in surgical procedures of the spine; and offers biological products, such as fiber-based and particulate demineralized bone matrices, cellular bone allografts, collagen ceramic matrices, and synthetic bone void fillers, and tissue forms, which allow physicians to treat various spinal and orthopedic conditions.