Key Points
- Orthofix Medical insider Aviva Mcpherron sold 3,670 shares on June 18 at an average price of $9.38, totaling about $34,425. The sale reduced her ownership by 5.24% and was made to cover tax withholding tied to vested equity awards.
- OFIX shares remain near their 52-week low, opening at $8.95 versus a 1-year range of $8.88 to $16.99. The stock also trades below its 50-day and 200-day moving averages, suggesting recent weakness.
- Analyst sentiment is mixed, with an overall consensus rating of “Hold” and an average price target of $15.50. Recent updates included rating cuts and lower targets, though some firms still maintain Buy ratings.
Orthofix Medical Inc. (NASDAQ:OFIX - Get Free Report) insider Aviva Mcpherron sold 3,670 shares of the business's stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $9.38, for a total value of $34,424.60. Following the transaction, the insider owned 66,330 shares in the company, valued at approximately $622,175.40. This trade represents a 5.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Orthofix Medical Stock Performance
Shares of OFIX stock opened at $8.95 on Tuesday. The business has a fifty day moving average of $11.05 and a 200 day moving average of $12.74. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.87 and a quick ratio of 1.76. The firm has a market capitalization of $361.76 million, a price-to-earnings ratio of -5.93 and a beta of 0.72. Orthofix Medical Inc. has a 1 year low of $8.88 and a 1 year high of $16.99.
Orthofix Medical (NASDAQ:OFIX - Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The medical device company reported ($0.52) earnings per share 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 return on equity of 13.44% and a negative net margin of 7.27%. As a group, research analysts expect that Orthofix Medical Inc. will post -1.48 earnings per share for the current year.
Analyst Ratings Changes
A number of analysts recently issued reports on OFIX shares. TD Cowen reissued a "hold" rating on shares of Orthofix Medical in a report on Thursday, May 21st. Wall Street Zen cut Orthofix Medical from a "buy" rating to a "hold" rating in a research report on Saturday, May 2nd. Weiss Ratings reissued a "sell (d-)" rating on shares of Orthofix Medical in a research note on Tuesday, April 21st. Stifel Nicolaus dropped their target price on Orthofix Medical from $18.00 to $15.00 and set a "buy" rating for the company in a report on Friday, May 22nd. Finally, Canaccord Genuity Group cut their target price on Orthofix Medical from $20.00 to $18.00 and set a "buy" rating for the company in a research note on Thursday, May 21st. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $15.50.
Check Out Our Latest Research Report on Orthofix Medical
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the business. R Squared Ltd grew its position in shares of Orthofix Medical by 7.2% during the first quarter. R Squared Ltd now owns 13,518 shares of the medical device company's stock worth $155,000 after buying an additional 904 shares in the last quarter. Gabelli Funds LLC grew its position in shares of Orthofix Medical by 0.4% during the fourth quarter. Gabelli Funds LLC now owns 235,303 shares of the medical device company's stock worth $3,567,000 after acquiring an additional 1,000 shares during the last quarter. Raymond James Financial Inc. grew its position in Orthofix Medical by 1.5% during the 3rd quarter. Raymond James Financial Inc. now owns 66,812 shares of the medical device company's stock worth $978,000 after purchasing an additional 1,000 shares during the last quarter. Amundi increased its position in Orthofix Medical by 2.7% in the 4th quarter. Amundi now owns 41,527 shares of the medical device company's stock valued at $630,000 after acquiring an additional 1,086 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Orthofix Medical by 6.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,561 shares of the medical device company's stock valued at $335,000 after purchasing an additional 1,213 shares during the period. Institutional investors and hedge funds own 89.76% of the company's stock.
Orthofix Medical Company Profile
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Get Free Report)
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.
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