Orthofix Medical (NASDAQ:OFIX) Insider Sells $47,985.26 in Stock

Orthofix Medical Inc. (NASDAQ:OFIX) insider Jorge Andres Cedron sold 3,743 shares of the stock in a transaction dated Thursday, April 16th. The shares were sold at an average price of $12.82, for a total transaction of $47,985.26. Following the transaction, the insider owned 59,006 shares of the company’s stock, valued at approximately $756,456.92. The trade was a 5.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Orthofix Medical Price Performance

OFIX opened at $12.14 on Thursday. The firm has a market cap of $487.30 million, a P/E ratio of -5.19 and a beta of 0.82. The firm has a 50-day moving average of $12.45 and a 200 day moving average of $14.05. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.43 and a current ratio of 2.45. Orthofix Medical Inc. has a fifty-two week low of $10.24 and a fifty-two week high of $16.99.

Orthofix Medical (NASDAQ:OFIX) last posted its quarterly earnings results on Saturday, February 14th. The medical device company reported ($0.06) earnings per share for the quarter. The company had revenue of $219.91 million for the quarter. Orthofix Medical had a negative net margin of 11.21% and a negative return on equity of 20.38%. On average, research analysts expect that Orthofix Medical Inc. will post -1.57 EPS for the current year.

Institutional Investors Weigh In On Orthofix Medical

Several institutional investors have recently added to or reduced their stakes in OFIX. CWM LLC lifted its holdings in Orthofix Medical by 99.0% during the third quarter. CWM LLC now owns 1,920 shares of the medical device company’s stock valued at $28,000 after purchasing an additional 955 shares during the last quarter. State of Alaska Department of Revenue purchased a new stake in Orthofix Medical during the third quarter valued at about $30,000. Kestra Advisory Services LLC purchased a new stake in Orthofix Medical during the fourth quarter valued at about $56,000. Mackenzie Financial Corp purchased a new stake in shares of Orthofix Medical in the third quarter worth about $148,000. Finally, Strs Ohio bought a new position in shares of Orthofix Medical in the first quarter valued at approximately $150,000. 89.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Barrington Research restated an “outperform” rating and set a $17.00 price target on shares of Orthofix Medical in a research report on Friday, April 10th. Weiss Ratings restated a “sell (d-)” rating on shares of Orthofix Medical in a research report on Thursday, January 22nd. TD Cowen assumed coverage on shares of Orthofix Medical in a research report on Tuesday, January 27th. They set a “hold” rating and a $14.00 price target for the company. Stifel Nicolaus dropped their price objective on shares of Orthofix Medical from $22.00 to $18.00 and set a “buy” rating on the stock in a report on Monday, March 9th. Finally, Wall Street Zen raised shares of Orthofix Medical from a “hold” rating to a “buy” rating in a report on Saturday, March 7th. Three analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Orthofix Medical currently has an average rating of “Hold” and an average target price 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.