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

Shares of Orthofix Medical Inc. (NASDAQ:OFIX) have earned a consensus recommendation of “Hold” from the five research firms that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $15.50.

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

Insiders Place Their Bets

In other Orthofix Medical news, Director John B. Henneman III purchased 5,000 shares of the business’s stock in a transaction dated Thursday, May 7th. The stock was bought at an average cost of $12.26 per share, for a total transaction of $61,300.00. Following the completion of the acquisition, the director directly owned 90,809 shares in the company, valued at $1,113,318.34. This represents a 5.83% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jorge Andres Cedron sold 3,743 shares of the firm’s stock in a transaction on 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 sale, the insider owned 59,006 shares in the company, valued at approximately $756,456.92. The trade was a 5.97% decrease in their position. 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 purchased 189,896 shares of company stock valued at $2,293,970. Corporate insiders own 2.70% of the company’s stock.

Hedge Funds Weigh In On Orthofix Medical

Several institutional investors and hedge funds have recently added to or reduced their stakes in OFIX. Paradigm Capital Management Inc. NY raised its holdings in Orthofix Medical by 34.6% in the 2nd quarter. Paradigm Capital Management Inc. NY now owns 3,340,600 shares of the medical device company’s stock valued at $37,248,000 after acquiring an additional 858,900 shares in the last quarter. Millennium Management LLC raised its stake in shares of Orthofix Medical by 86.6% in the 3rd quarter. Millennium Management LLC now owns 1,475,718 shares of the medical device company’s stock valued at $21,605,000 after buying an additional 684,850 shares in the last quarter. Juniper Investment Company LLC lifted its holdings in shares of Orthofix Medical by 23.3% during the 4th quarter. Juniper Investment Company LLC now owns 3,510,333 shares of the medical device company’s stock worth $53,217,000 after acquiring an additional 663,278 shares during the period. Bank of America Corp DE lifted 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 boosted its holdings in Orthofix Medical by 18.4% during the fourth quarter. Armistice Capital LLC now owns 2,648,000 shares of the medical device company’s stock valued at $40,144,000 after purchasing an additional 412,000 shares in the last quarter. 89.76% of the stock is currently owned by institutional investors.

Orthofix Medical Price Performance

Shares of NASDAQ:OFIX opened at $9.94 on Friday. The stock has a market capitalization of $401.79 million, a P/E ratio of -6.58 and a beta of 0.71. The business has a 50-day moving average of $10.55 and a two-hundred day moving average of $12.38. Orthofix Medical has a fifty-two week low of $8.85 and a fifty-two week high of $16.99. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.87 and a quick ratio of 1.76.

Orthofix Medical (NASDAQ:OFIX) last issued its quarterly earnings data on Tuesday, May 5th. The medical device company reported ($0.52) earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $196.71 million for the quarter, compared to the consensus estimate of $196.40 million. On average, equities research analysts predict that Orthofix Medical will post -1.48 EPS for the current fiscal 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.