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

Orthofix Medical Inc. (NASDAQ:OFIX) has been assigned an average recommendation of “Hold” from the five analysts that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $16.00.

OFIX has been the topic of several research reports. Wall Street Zen cut Orthofix Medical from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. TD Cowen reissued a “hold” rating on shares of Orthofix Medical in a research note on Thursday, May 21st. Weiss Ratings restated a “sell (d-)” rating on shares of Orthofix Medical in a report on Friday, July 17th. Stifel Nicolaus reduced their price objective on Orthofix Medical from $18.00 to $15.00 and set a “buy” rating on the stock in a research note on Friday, May 22nd. Finally, Canaccord Genuity Group lowered their target price on Orthofix Medical from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Thursday, May 21st.

Orthofix Medical Stock Performance

Shares of NASDAQ OFIX opened at $11.90 on Tuesday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.76 and a current ratio of 2.87. The company has a market cap of $481.00 million, a P/E ratio of -7.88 and a beta of 0.71. The firm’s fifty day moving average is $10.32 and its two-hundred day moving average is $11.91. Orthofix Medical has a 52-week low of $8.85 and a 52-week high of $16.99.

Orthofix Medical (NASDAQ:OFIX) last announced its quarterly 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. Orthofix Medical had a negative net margin of 7.27% and a negative return on equity of 13.44%. The business had revenue of $196.71 million for the quarter, compared to analysts’ expectations of $196.40 million. As a group, analysts anticipate that Orthofix Medical will post -1.4 EPS for the current fiscal year.

Insider Activity at Orthofix Medical

In other Orthofix Medical news, major shareholder Engine Capital Management, Lp acquired 30,000 shares of the stock in a transaction on Thursday, May 7th. The stock was acquired at an average price of $12.18 per share, for a total transaction of $365,400.00. Following the completion of the transaction, the insider directly owned 3,848,573 shares of the company’s stock, valued at $46,875,619.14. This trade represents a 0.79% 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 hyperlink. Also, Director John B. Henneman III acquired 5,000 shares of the stock in a transaction on Thursday, May 7th. The shares were acquired at an average price of $12.26 per share, with a total value of $61,300.00. Following the transaction, the director directly owned 90,809 shares of the company’s stock, valued at $1,113,318.34. The trade was a 5.83% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired a total of 189,896 shares of company stock valued at $2,293,970 over the last 90 days. 2.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Orthofix Medical

Several large investors have recently added to or reduced their stakes in OFIX. Paradigm Capital Management Inc. NY increased its position in shares of Orthofix Medical by 34.6% during 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 purchasing an additional 858,900 shares during the last quarter. Millennium Management LLC boosted its holdings in Orthofix Medical by 86.6% during 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 acquiring an additional 684,850 shares during the period. Juniper Investment Company LLC grew its stake in Orthofix Medical by 23.3% in 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 in the last quarter. Bank of America Corp DE raised its holdings in shares of Orthofix Medical by 659.5% in the second quarter. Bank of America Corp DE now owns 687,410 shares of the medical device company’s stock valued at $7,665,000 after acquiring an additional 596,907 shares in the last quarter. Finally, Armistice Capital LLC lifted 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 worth $40,144,000 after buying an additional 412,000 shares during the period. 89.76% of the stock is owned by institutional investors.

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.