Orthofix Medical (NASDAQ:OFIX) Insider Patrick Fisher Sells 1,295 Shares

Orthofix Medical Inc. (NASDAQ:OFIX) insider Patrick Fisher sold 1,295 shares of the company’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $10.09, for a total transaction of $13,066.55. Following the sale, the insider directly owned 51,219 shares in the company, valued at $516,799.71. This trade represents a 2.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Orthofix Medical Stock Performance

OFIX stock traded down $0.47 during trading hours on Thursday, reaching $10.01. The stock had a trading volume of 225,284 shares, compared to its average volume of 336,802. The stock has a 50-day simple moving average of $10.59 and a 200 day simple moving average of $11.52. Orthofix Medical Inc. has a fifty-two week low of $8.85 and a fifty-two week high of $16.99. The stock has a market capitalization of $407.71 million, a PE ratio of -6.50 and a beta of 0.68. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.84 and a quick ratio of 1.67.

Orthofix Medical (NASDAQ:OFIX) last released its quarterly earnings data on Wednesday, August 5th. The medical device company reported ($0.39) earnings per share for the quarter, topping the consensus estimate of ($0.41) by $0.02. The company had revenue of $210.93 million for the quarter, compared to analyst estimates of $209.28 million. Orthofix Medical had a negative net margin of 7.41% and a negative return on equity of 14.05%. Analysts predict that Orthofix Medical Inc. will post -1.29 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Wall Street Zen downgraded Orthofix Medical from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Orthofix Medical in a research report on Friday, July 17th. Barrington Research lifted their target price on Orthofix Medical from $15.00 to $17.00 and gave the stock an “outperform” rating in a research note on Monday, July 6th. Stifel Nicolaus decreased their target price on Orthofix Medical from $18.00 to $15.00 and set a “buy” rating on the stock in a report on Friday, May 22nd. Finally, TD Cowen restated a “hold” rating on shares of Orthofix Medical in a research note on Thursday, May 21st. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Orthofix Medical currently has an average rating of “Hold” and an average price target of $14.75.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Juniper Investment Company LLC boosted its holdings in shares of Orthofix Medical by 23.3% during the fourth quarter. Juniper Investment Company LLC now owns 3,510,333 shares of the medical device company’s stock worth $53,217,000 after acquiring an additional 663,278 shares during the period. Engine Capital Management LP grew its position in shares of Orthofix Medical by 3.2% in the first quarter. Engine Capital Management LP now owns 4,390,779 shares of the medical device company’s stock valued at $50,362,000 after purchasing an additional 137,858 shares during the last quarter. Global Strategic Investment Solutions LLC bought a new position in shares of Orthofix Medical during the first quarter worth approximately $664,000. Armistice Capital LLC increased its stake in shares of Orthofix Medical by 18.4% during the fourth quarter. Armistice Capital LLC now owns 2,648,000 shares of the medical device company’s stock worth $40,144,000 after purchasing an additional 412,000 shares during the period. Finally, Tejara Capital Ltd acquired a new stake in Orthofix Medical during the 2nd quarter worth approximately $537,000. 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.