Key Points
- Insider sale: Patrick Fisher sold 1,295 Orthofix Medical shares for approximately $13,067 to cover tax withholding tied to vested equity awards, reducing his ownership by 2.47% to 51,219 shares.
- Quarterly results: Orthofix reported a quarterly loss of $0.39 per share, slightly better than analysts’ $0.41 estimate, while revenue of $210.93 million exceeded the $209.28 million consensus.
- Market outlook: OFIX shares opened at $10.01, while analysts maintain a consensus “Hold” rating and a $14.75 target price; institutional investors own approximately 89.76% of the company.
Orthofix Medical Inc. (NASDAQ:OFIX - Get Free Report) insider Patrick Fisher sold 1,295 shares of the company's stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $10.09, for a total value of $13,066.55. Following the completion of the transaction, the insider owned 51,219 shares in the company, valued at $516,799.71. This represents a 2.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 $10.01 on Friday. The firm has a market cap of $407.71 million, a P/E ratio of -6.50 and a beta of 0.68. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.67 and a current ratio of 2.84. Orthofix Medical Inc. has a one year low of $8.85 and a one year high of $16.99. The firm's 50 day moving average price is $10.61 and its 200-day moving average price is $11.49.
Orthofix Medical (NASDAQ:OFIX - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The medical device company reported ($0.39) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.41) by $0.02. The company had revenue of $210.93 million for the quarter, compared to analyst estimates of $209.28 million. Orthofix Medical had a negative net margin of 7.41% and a negative return on equity of 14.05%. As a group, equities research analysts predict that Orthofix Medical Inc. will post -1.29 EPS for the current year.
Analyst Ratings Changes
A number of research firms recently issued reports on OFIX. Barrington Research raised their price target on Orthofix Medical from $15.00 to $17.00 and gave the stock an "outperform" rating in a research note on Monday, July 6th. Stifel Nicolaus lowered their price objective on Orthofix Medical from $18.00 to $15.00 and set a "buy" rating on the stock in a report on Friday, May 22nd. TD Cowen restated a "hold" rating on shares of Orthofix Medical in a research report on Thursday, May 21st. Weiss Ratings reissued a "sell (d-)" rating on shares of Orthofix Medical in a research note on Friday, July 17th. Finally, Wall Street Zen lowered shares of Orthofix Medical from a "buy" rating to a "hold" rating in a research report on Saturday, May 2nd. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $14.75.
View Our Latest Research Report on Orthofix Medical
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the business. Engine Capital Management LP raised its holdings in Orthofix Medical by 3.2% in the first quarter. Engine Capital Management LP now owns 4,390,779 shares of the medical device company's stock valued at $50,362,000 after acquiring an additional 137,858 shares in the last quarter. Rubric Capital Management LP grew its position in Orthofix Medical by 0.7% in the 2nd quarter. Rubric Capital Management LP now owns 3,721,715 shares of the medical device company's stock worth $41,497,000 after purchasing an additional 26,769 shares during the last quarter. Juniper Investment Company LLC grew its holdings 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 buying an additional 663,278 shares in the last quarter. Paradigm Capital Management Inc. NY raised its stake in shares of Orthofix Medical by 34.6% during the second 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 in the last quarter. Finally, BlackRock Inc. bought a new stake in shares of Orthofix Medical during the 2nd quarter worth about $30,405,000. Institutional investors and hedge funds own 89.76% of the company's stock.
About Orthofix Medical
(
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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