Key Points
- Major shareholder Juniper Investment Company bought 675,000 Orthofix shares at an average $7.41 each, spending about $5.0 million and increasing its stake by 17.9% to 4.45 million shares. It also bought another 14,803 shares shortly afterward.
- Orthofix reported quarterly adjusted earnings of a loss of $0.15 per share, better than the expected $0.26 loss, while revenue of $207.86 million fell short of estimates.
- Analysts’ consensus rating is Hold, with an average price target of $14.75; the stock recently traded at $6.94, near its 52-week low of $6.52.
Orthofix Medical Inc. (NASDAQ:OFIX - Get Free Report) major shareholder Juniper Investment Company, Ll purchased 675,000 shares of the company's stock in a transaction dated Monday, November 9th. The shares were purchased at an average price of $7.41 per share, for a total transaction of $5,001,750.00. Following the completion of the purchase, the insider owned 4,446,216 shares of the company's stock, valued at approximately $32,946,460.56. This trade represents a 17.90% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own more than 10% of a company's shares are required to disclose their transactions with the SEC.
Juniper Investment Company, Ll also recently made the following trade(s):
- On Wednesday, November 11th, Juniper Investment Company, Ll purchased 14,803 shares of Orthofix Medical stock. The shares were purchased at an average cost of $7.04 per share, with a total value of $104,213.12.
Orthofix Medical Trading Down 3.3%
NASDAQ OFIX opened at $6.94 on Friday. The company has a quick ratio of 1.67, a current ratio of 3.11 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $282.67 million, a P/E ratio of -6.20 and a beta of 0.66. Orthofix Medical Inc. has a 52-week low of $6.52 and a 52-week high of $16.42. The firm has a 50-day moving average price of $9.12 and a 200 day moving average price of $10.86.
Orthofix Medical (NASDAQ:OFIX - Get Free Report) last announced its quarterly earnings data on Monday, November 9th. The medical device company reported ($0.15) earnings per share for the quarter, beating analysts' consensus estimates of ($0.26) by $0.11. Orthofix Medical had a negative return on equity of 10.32% and a negative net margin of 5.39%. The company had revenue of $207.86 million for the quarter, compared to analyst estimates of $210.52 million. Equities research analysts expect that Orthofix Medical Inc. will post -1.29 EPS for the current year.
Hedge Funds Weigh In On Orthofix Medical
A number of large investors have recently made changes to their positions in OFIX. Engine Capital Management LP boosted its holdings in Orthofix Medical by 3.2% during the first quarter. Engine Capital Management LP now owns 4,390,779 shares of the medical device company's stock worth $50,362,000 after buying an additional 137,858 shares in the last quarter. BlackRock Inc. acquired a new position in Orthofix Medical during the second quarter worth about $30,405,000. Paradigm Capital Management Inc. NY purchased a new position in Orthofix Medical in the second quarter valued at about $30,167,000. Bank of America Corp DE purchased a new position in Orthofix Medical in the second quarter valued at about $2,667,000. Finally, Russell Investments Group Ltd. increased its holdings in Orthofix Medical by 37.5% in the third quarter. Russell Investments Group Ltd. now owns 274,157 shares of the medical device company's stock valued at $2,580,000 after buying an additional 74,838 shares in the last quarter. Hedge funds and other institutional investors own 89.76% of the company's stock.
Wall Street Analyst Weigh In
Several analysts have recently commented on OFIX shares. Canaccord Genuity Group reduced their price target on Orthofix Medical from $18.00 to $13.00 and set a "buy" rating for the company in a report on Monday, August 10th. Weiss Ratings downgraded Orthofix Medical from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Tuesday, November 3rd. Finally, TD Cowen reaffirmed a "hold" rating on shares of Orthofix Medical in a report on Tuesday. 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. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $14.75.
Check Out Our Latest Analysis on OFIX
About Orthofix Medical
(
Get Free Report)
Orthofix Medical Inc. develops and markets medical technologies for spine and orthopedic care. Its products include spinal implants and biologics, bone growth stimulation systems, and solutions used in fracture treatment and limb reconstruction. The company serves hospitals, surgeons, and other health care providers through its Orthofix and SeaSpine businesses. Its offerings span surgical products as well as noninvasive and specialized orthopedic treatments. Orthofix and SeaSpine completed a merger in 2023, combining their spine and orthopedic product portfolios.
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