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

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

Orthofix Medical Stock Performance

NASDAQ:OFIX opened at $10.01 on Friday. The stock has a 50-day simple moving average of $10.62 and a 200-day simple moving average of $11.48. The stock has a market cap of $407.71 million, a P/E ratio of -6.50 and a beta of 0.68. 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 0.55, a quick ratio of 1.67 and a current ratio of 2.84.

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

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. R Squared Ltd increased its position in Orthofix Medical by 7.2% during 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 boosted its holdings in shares of Orthofix Medical by 0.4% in the fourth 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. boosted its holdings in shares of Orthofix Medical by 1.5% in the third quarter. Raymond James Financial Inc. now owns 66,812 shares of the medical device company’s stock valued at $978,000 after acquiring an additional 1,000 shares during the period. Amundi grew its position in shares of Orthofix Medical by 2.7% during the fourth 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 last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Orthofix Medical by 6.3% during the first 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 last quarter. Hedge funds and other institutional investors 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.