Aviva Mcpherron Sells 3,670 Shares of Orthofix Medical (NASDAQ:OFIX) Stock

Orthofix Medical Inc. (NASDAQ:OFIX) insider Aviva Mcpherron sold 3,670 shares of the business’s stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $9.38, for a total transaction of $34,424.60. Following the transaction, the insider owned 66,330 shares of the company’s stock, valued at $622,175.40. This trade represents a 5.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Orthofix Medical Price Performance

Shares of NASDAQ OFIX traded down $0.50 during mid-day trading on Monday, reaching $8.95. 363,533 shares of the company were exchanged, compared to its average volume of 318,704. Orthofix Medical Inc. has a 52 week low of $8.88 and a 52 week high of $16.99. The company’s 50 day moving average price is $11.12 and its 200 day moving average price is $12.79. The stock has a market capitalization of $361.76 million, a PE ratio of -5.93 and a beta of 0.72. The company has a quick ratio of 1.76, a current ratio of 2.87 and a debt-to-equity ratio of 0.54.

Orthofix Medical (NASDAQ:OFIX) last issued its quarterly earnings results on Tuesday, May 5th. The medical device company reported ($0.52) EPS for the quarter, beating analysts’ consensus estimates of ($0.68) by $0.16. The business had revenue of $196.71 million for the quarter, compared to analysts’ expectations of $196.40 million. Orthofix Medical had a negative net margin of 7.27% and a negative return on equity of 13.44%. Sell-side analysts forecast that Orthofix Medical Inc. will post -1.48 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. R Squared Ltd raised its stake in shares of Orthofix Medical by 7.2% in the first quarter. R Squared Ltd now owns 13,518 shares of the medical device company’s stock worth $155,000 after buying an additional 904 shares during the period. Gabelli Funds LLC grew its stake in shares of Orthofix Medical by 0.4% during the 4th quarter. Gabelli Funds LLC now owns 235,303 shares of the medical device company’s stock valued at $3,567,000 after acquiring an additional 1,000 shares during the period. Raymond James Financial Inc. increased its holdings in Orthofix Medical by 1.5% in the 3rd quarter. Raymond James Financial Inc. now owns 66,812 shares of the medical device company’s stock worth $978,000 after acquiring an additional 1,000 shares in the last quarter. Amundi raised its stake in Orthofix Medical by 2.7% during the 4th quarter. Amundi now owns 41,527 shares of the medical device company’s stock worth $630,000 after acquiring an additional 1,086 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Orthofix Medical by 6.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,561 shares of the medical device company’s stock worth $335,000 after acquiring an additional 1,213 shares during the period. Hedge funds and other institutional investors own 89.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Orthofix Medical in a research note on Tuesday, April 21st. Barrington Research cut their price target on Orthofix Medical from $17.00 to $15.00 and set an “outperform” rating on the stock in a research note on Friday, May 22nd. Stifel Nicolaus reduced their price objective on Orthofix Medical from $18.00 to $15.00 and set a “buy” rating for the company in a research report on Friday, May 22nd. Wall Street Zen cut Orthofix Medical from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Finally, TD Cowen reissued a “hold” rating on shares of Orthofix Medical in a report on Thursday, May 21st. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Orthofix Medical currently has an average rating of “Hold” and an average price target of $15.50.

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.