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

Orthofix Medical Inc. (NASDAQ:OFIX) insider Lucas Vitale sold 4,269 shares of the stock in a transaction that occurred 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 completion of the sale, the insider directly owned 160,449 shares of the company’s stock, valued at approximately $1,912,552.08. This trade represents a 2.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Orthofix Medical Stock Down 1.3%

Shares of NASDAQ:OFIX traded down $0.16 during mid-day trading on Thursday, hitting $11.70. 218,380 shares of the company traded hands, compared to its average volume of 262,411. The stock has a 50-day moving average price of $13.33 and a two-hundred day moving average price of $14.51. Orthofix Medical Inc. has a 12-month low of $10.24 and a 12-month high of $17.00. The stock has a market cap of $469.64 million, a P/E ratio of -5.00 and a beta of 0.75. The company has a current ratio of 2.45, a quick ratio of 1.43 and a debt-to-equity ratio of 0.39.

Orthofix Medical (NASDAQ:OFIX) last released its quarterly earnings results on Tuesday, February 24th. The medical device company reported ($0.06) 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 company had revenue of $219.91 million during the quarter, compared to analysts’ expectations of $218.72 million. On average, equities research analysts forecast that Orthofix Medical Inc. will post -2.81 earnings per share for the current year.

Institutional Trading of Orthofix Medical

Large investors have recently added to or reduced their stakes in the stock. CWM LLC raised its position in Orthofix Medical by 99.0% in the third quarter. CWM LLC now owns 1,920 shares of the medical device company’s stock worth $28,000 after acquiring an additional 955 shares during the period. State of Alaska Department of Revenue bought a new position in shares of Orthofix Medical during the 3rd quarter valued at approximately $30,000. Kestra Advisory Services LLC purchased a new stake in shares of Orthofix Medical during the 4th quarter worth approximately $56,000. Strs Ohio purchased a new stake in shares of Orthofix Medical during the 1st quarter worth approximately $150,000. Finally, Mackenzie Financial Corp bought a new stake in shares of Orthofix Medical in the 3rd quarter worth approximately $148,000. Hedge funds and other institutional investors own 89.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Barrington Research dropped their price target on shares of Orthofix Medical from $18.00 to $17.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 25th. Stifel Nicolaus decreased their price objective 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. Canaccord Genuity Group dropped their target price on shares of Orthofix Medical from $24.00 to $20.00 and set a “buy” rating on the stock in a research report on Thursday, February 26th. TD Cowen initiated coverage on Orthofix Medical in a research note on Tuesday, January 27th. They issued a “hold” rating and a $14.00 target price on the stock. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Orthofix Medical in a report on Thursday, January 22nd. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Orthofix Medical has an average rating of “Hold” and a consensus price target of $17.25.

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.