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

Orthofix Medical Inc. (NASDAQ:OFIX) has been given an average rating of “Hold” by the five analysts that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $15.50.

Several analysts have commented on OFIX shares. Weiss Ratings restated a “sell (d-)” rating on shares of Orthofix Medical in a report on Tuesday, April 21st. Barrington Research dropped their target price on shares of Orthofix Medical from $17.00 to $15.00 and set an “outperform” rating on the stock in a report on Friday, May 22nd. Wall Street Zen downgraded shares of Orthofix Medical from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. TD Cowen reaffirmed a “hold” rating on shares of Orthofix Medical in a research note on Thursday, May 21st. Finally, Stifel Nicolaus decreased their price target on shares of Orthofix Medical from $18.00 to $15.00 and set a “buy” rating for the company in a research note on Friday, May 22nd.

Insider Buying and Selling at Orthofix Medical

In other news, insider Jorge Andres Cedron sold 3,743 shares of the firm’s stock in a transaction that occurred on Thursday, April 16th. The shares were sold at an average price of $12.82, for a total transaction of $47,985.26. Following the completion of the transaction, the insider directly owned 59,006 shares of the company’s stock, valued at $756,456.92. This trade represents a 5.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, major shareholder Engine Capital Management, Lp purchased 112,950 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The shares were acquired at an average cost of $11.99 per share, with a total value of $1,354,270.50. Following the completion of the purchase, the insider directly owned 3,783,131 shares in the company, valued at approximately $45,359,740.69. This represents a 3.08% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders purchased 189,896 shares of company stock valued at $2,293,970 over the last quarter. Insiders own 2.70% of the company’s stock.

Hedge Funds Weigh In On Orthofix Medical

Several hedge funds have recently made changes to their positions in OFIX. AQR Capital Management LLC grew its stake in shares of Orthofix Medical by 67.7% during the 1st quarter. AQR Capital Management LLC now owns 20,409 shares of the medical device company’s stock worth $333,000 after acquiring an additional 8,241 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake 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 buying an additional 1,213 shares in the last quarter. Jane Street Group LLC bought a new position in shares of Orthofix Medical in the first quarter valued at $1,076,000. Strs Ohio bought a new position in shares of Orthofix Medical in the first quarter valued at $150,000. Finally, JPMorgan Chase & Co. grew its stake in shares of Orthofix Medical by 15.6% in the second quarter. JPMorgan Chase & Co. now owns 193,549 shares of the medical device company’s stock valued at $2,158,000 after buying an additional 26,123 shares in the last quarter. 89.76% of the stock is owned by institutional investors.

Orthofix Medical Stock Performance

Shares of OFIX stock opened at $9.31 on Monday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.76 and a current ratio of 2.87. The company has a market capitalization of $376.31 million, a P/E ratio of -6.17 and a beta of 0.72. The company’s 50 day moving average price is $11.36 and its two-hundred day moving average price is $13.02. Orthofix Medical has a 52 week low of $9.13 and a 52 week high of $16.99.

Orthofix Medical (NASDAQ:OFIX) last announced its earnings results on Tuesday, May 5th. The medical device company reported ($0.52) EPS for the quarter, topping the consensus estimate of ($0.68) by $0.16. The firm had revenue of $196.71 million for the quarter, compared to the consensus estimate 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 -1.48 earnings per share for the current fiscal year.

Orthofix Medical Company Profile

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.