Orthofix Medical (NASDAQ:OFIX) Insider Sells $34,424.60 in Stock

Orthofix Medical Inc. (NASDAQ:OFIX) insider Aviva Mcpherron sold 3,670 shares of Orthofix Medical stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $9.38, for a total value of $34,424.60. Following the completion of the transaction, the insider directly owned 66,330 shares of the company’s stock, valued at approximately $622,175.40. This 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 available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Orthofix Medical Stock Up 2.9%

Shares of OFIX opened at $9.36 on Thursday. The stock has a market capitalization of $378.33 million, a PE ratio of -6.20 and a beta of 0.71. Orthofix Medical Inc. has a 1 year low of $8.85 and a 1 year high of $16.99. 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’s 50-day simple moving average is $10.91 and its 200-day simple moving average is $12.64.

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

Analyst Upgrades and Downgrades

OFIX has been the subject of several research reports. Canaccord Genuity Group dropped their price target on shares of Orthofix Medical from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Thursday, May 21st. Wall Street Zen cut Orthofix Medical from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. TD Cowen reiterated a “hold” rating on shares of Orthofix Medical in a report on Thursday, May 21st. Barrington Research lowered their target price on Orthofix Medical from $17.00 to $15.00 and set an “outperform” rating for the company in a research note on Friday, May 22nd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Orthofix Medical in a report on Tuesday, April 21st. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $15.50.

Institutional Investors Weigh In On Orthofix Medical

A number of large investors have recently modified their holdings of OFIX. Kestra Advisory Services LLC acquired a new stake in shares of Orthofix Medical in the 4th quarter valued at $56,000. CWM LLC grew its stake in shares of Orthofix Medical by 136.4% during the fourth quarter. CWM LLC now owns 4,538 shares of the medical device company’s stock worth $69,000 after purchasing an additional 2,618 shares in the last quarter. Abel Hall LLC purchased a new position in Orthofix Medical in the first quarter valued at $139,000. Mackenzie Financial Corp purchased a new position in Orthofix Medical in the third quarter valued at $148,000. Finally, Strs Ohio acquired a new stake in Orthofix Medical in the first quarter valued at $150,000. 89.76% of the stock is owned by hedge funds and other institutional investors.

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.