Orthofix Medical (NASDAQ:OFIX) Insider Lucas Vitale Sells 4,269 Shares

Orthofix Medical Inc. (NASDAQ:OFIX) insider Lucas Vitale sold 4,269 shares of the business’s stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $11.92, for a total value of $50,886.48. Following the sale, the insider directly owned 160,449 shares of the company’s stock, valued at $1,912,552.08. This represents a 2.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Orthofix Medical Stock Down 2.5%

Shares of NASDAQ:OFIX opened at $11.57 on Friday. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.45 and a quick ratio of 1.43. The stock has a market cap of $464.22 million, a price-to-earnings ratio of -4.94 and a beta of 0.75. The company has a 50 day moving average of $13.24 and a 200-day moving average of $14.49. Orthofix Medical Inc. has a one year low of $10.24 and a one year high of $17.00.

Orthofix Medical (NASDAQ:OFIX) last announced its quarterly earnings data on Tuesday, February 24th. The medical device company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.50). Orthofix Medical had a negative net margin of 11.21% and a negative return on equity of 20.38%. The business had revenue of $219.91 million during the quarter, compared to the consensus estimate of $218.72 million. On average, sell-side analysts forecast that Orthofix Medical Inc. will post -2.81 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently commented on OFIX shares. Wall Street Zen raised Orthofix Medical from a “hold” rating to a “buy” rating in a research note on Saturday, March 7th. TD Cowen initiated coverage on shares of Orthofix Medical in a research note on Tuesday, January 27th. They set a “hold” rating and a $14.00 price objective on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Orthofix Medical in a report on Thursday, January 22nd. Stifel Nicolaus lowered their target price on shares of Orthofix Medical from $22.00 to $18.00 and set a “buy” rating for the company in a research note on Monday, March 9th. Finally, Canaccord Genuity Group cut their target price on shares of Orthofix Medical from $24.00 to $20.00 and set a “buy” rating on the stock in a report on Thursday, February 26th. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $17.25.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in OFIX. VARCOV Co. acquired a new position in Orthofix Medical in the 4th quarter worth $164,000. Juniper Investment Company LLC raised its stake in shares of 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 valued at $53,217,000 after purchasing an additional 663,278 shares during the period. Engineers Gate Manager LP raised its stake in shares of Orthofix Medical by 92.6% in the 4th quarter. Engineers Gate Manager LP now owns 85,101 shares of the medical device company’s stock valued at $1,290,000 after purchasing an additional 40,923 shares during the period. Balyasny Asset Management L.P. bought a new stake in shares of Orthofix Medical in the fourth quarter valued at about $238,000. Finally, Armistice Capital LLC lifted its holdings in shares of Orthofix Medical by 18.4% in 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. Institutional investors and hedge funds own 89.76% of the company’s stock.

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.