Orthofix Medical Inc. (NASDAQ:OFIX) Receives Consensus Recommendation of “Hold” from Analysts

Orthofix Medical Inc. (NASDAQ:OFIX) has received an average rating of “Hold” from the six research firms that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and three have given a buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $17.25.

OFIX has been the topic of a number of research analyst reports. Barrington Research restated an “outperform” rating and issued a $17.00 target price on shares of Orthofix Medical in a research report on Friday, April 10th. Canaccord Genuity Group lowered their price target on Orthofix Medical from $24.00 to $20.00 and set a “buy” rating for the company in a report on Thursday, February 26th. Weiss Ratings reissued a “sell (d-)” rating on shares of Orthofix Medical in a research report on Tuesday, April 21st. TD Cowen initiated coverage on shares of Orthofix Medical in a report on Tuesday, January 27th. They issued a “hold” rating and a $14.00 price objective on the stock. Finally, 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.

Insider Activity at Orthofix Medical

In other news, Director John B. Henneman III purchased 5,000 shares of the firm’s stock in a transaction on Thursday, May 7th. The shares were bought at an average cost of $12.26 per share, for a total transaction of $61,300.00. Following the completion of the purchase, the director directly owned 90,809 shares of the company’s stock, valued at approximately $1,113,318.34. This trade represents a 5.83% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Lucas Vitale sold 4,269 shares of the firm’s stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $11.92, for a total value of $50,886.48. Following the transaction, the insider owned 160,449 shares of the company’s stock, valued at approximately $1,912,552.08. This represents a 2.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have bought 327,754 shares of company stock valued at $4,029,443. 2.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Orthofix Medical

Institutional investors and hedge funds have recently modified their holdings of the company. Paradigm Capital Management Inc. NY grew its holdings in shares of Orthofix Medical by 34.6% in 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. Millennium Management LLC lifted 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 worth $21,605,000 after buying an additional 684,850 shares in the last quarter. Juniper Investment Company LLC lifted its holdings in Orthofix Medical by 23.3% during 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. Bank of America Corp DE boosted its position in Orthofix Medical by 659.5% in the 2nd quarter. Bank of America Corp DE now owns 687,410 shares of the medical device company’s stock valued at $7,665,000 after buying an additional 596,907 shares during the period. Finally, Armistice Capital LLC boosted its position in Orthofix Medical by 18.4% in the 4th quarter. Armistice Capital LLC now owns 2,648,000 shares of the medical device company’s stock valued at $40,144,000 after buying an additional 412,000 shares during the period. Hedge funds and other institutional investors own 89.76% of the company’s stock.

Orthofix Medical Stock Performance

Orthofix Medical stock opened at $12.15 on Thursday. The firm has a 50 day simple moving average of $12.03 and a 200-day simple moving average of $13.65. The stock has a market cap of $491.13 million, a price-to-earnings ratio of -8.05 and a beta of 0.79. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.87 and a quick ratio of 1.76. Orthofix Medical has a 1-year low of $10.24 and a 1-year high of $16.99.

Orthofix Medical (NASDAQ:OFIX) last released its quarterly earnings results on Tuesday, May 5th. The medical device company reported ($0.52) EPS for the quarter, beating the consensus estimate of ($0.68) by $0.16. The firm had revenue of $196.71 million for the quarter, compared to analyst estimates of $196.40 million. Orthofix Medical had a negative net margin of 7.27% and a negative return on equity of 13.44%. On average, analysts expect that Orthofix Medical will post -1.37 EPS for the current year.

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.