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

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

Several equities analysts recently commented on the stock. Wall Street Zen cut shares of Orthofix Medical from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Barrington Research reduced their price objective on shares of Orthofix Medical from $17.00 to $15.00 and set an “outperform” rating for the company in a research note on Friday, May 22nd. TD Cowen reaffirmed a “hold” rating on shares of Orthofix Medical in a research note on Thursday, May 21st. Canaccord Genuity Group reduced their price objective on shares of Orthofix Medical from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Thursday, May 21st. Finally, Stifel Nicolaus reduced their price objective on shares of Orthofix Medical from $18.00 to $15.00 and set a “buy” rating for the company in a research note on Friday, May 22nd.

Insider Activity at Orthofix Medical

In related news, Director John B. Henneman III purchased 5,000 shares of the business’s stock in a transaction on Thursday, May 7th. The stock was acquired at an average price of $12.26 per share, with a total value of $61,300.00. Following the purchase, the director directly owned 90,809 shares in the company, valued at approximately $1,113,318.34. This represents a 5.83% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Engine Capital Management, Lp purchased 112,950 shares of the business’s stock in a transaction on Tuesday, May 5th. The stock was bought at an average cost of $11.99 per share, with a total value of $1,354,270.50. Following the purchase, the insider owned 3,783,131 shares in the company, valued at approximately $45,359,740.69. This represents a 3.08% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired 189,896 shares of company stock worth $2,293,970 in the last 90 days. 2.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Orthofix Medical

A number of institutional investors have recently made changes to their positions in the business. Engine Capital Management LP boosted its stake in shares of Orthofix Medical by 3.2% in the 1st quarter. Engine Capital Management LP now owns 4,390,779 shares of the medical device company’s stock valued at $50,362,000 after purchasing an additional 137,858 shares in the last quarter. Quantinno Capital Management LP boosted its stake in shares of Orthofix Medical by 109.7% in the 1st quarter. Quantinno Capital Management LP now owns 37,494 shares of the medical device company’s stock valued at $430,000 after purchasing an additional 19,610 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Orthofix Medical by 25.3% in the 1st quarter. Renaissance Technologies LLC now owns 101,991 shares of the medical device company’s stock valued at $1,170,000 after purchasing an additional 20,600 shares in the last quarter. Gamco Investors INC. ET AL boosted its stake in shares of Orthofix Medical by 17.5% in the 1st quarter. Gamco Investors INC. ET AL now owns 201,800 shares of the medical device company’s stock valued at $2,315,000 after purchasing an additional 30,000 shares in the last quarter. Finally, Public Employees Retirement System of Ohio boosted its stake in shares of Orthofix Medical by 960.1% in the 1st quarter. Public Employees Retirement System of Ohio now owns 33,393 shares of the medical device company’s stock valued at $383,000 after purchasing an additional 30,243 shares in the last quarter. Hedge funds and other institutional investors own 89.76% of the company’s stock.

Orthofix Medical Stock Performance

NASDAQ OFIX opened at $10.29 on Monday. The company’s 50 day moving average is $11.55 and its 200-day moving average is $13.21. The firm has a market cap of $415.92 million, a P/E ratio of -6.81 and a beta of 0.72. Orthofix Medical has a 12-month low of $9.13 and a 12-month high of $16.99. 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 issued its quarterly earnings data on Tuesday, May 5th. The medical device company reported ($0.52) EPS for the quarter, beating the consensus estimate of ($0.68) by $0.16. The company had revenue of $196.71 million during the quarter, compared to analysts’ expectations of $196.40 million. Orthofix Medical had a negative net margin of 7.27% and a negative return on equity of 13.44%. Sell-side analysts predict that Orthofix Medical will post -1.48 earnings per share 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.