Barrington Research Reaffirms Outperform Rating for Orthofix Medical (NASDAQ:OFIX)

Key Points

• Barrington Research has reaffirmed an outperform rating for Orthofix Medical (NASDAQ: OFIX) with a target price of $17.00, indicating a potential upside of 13.52% from its current price.
• Orthofix Medical reported a negative earnings per share of ($0.36) for the latest quarter, missing analysts' expectations, despite revenues of $203.12 million which exceeded estimates of $196.89 million.
• The stock has a consensus rating of Moderate Buy from analysts, with an average target price of $21.75, and four analysts have rated the stock with a Buy rating.

Orthofix Medical (NASDAQ:OFIX - Get Free Report)'s stock had its "outperform" rating restated by research analysts at Barrington Research in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $17.00 target price on the medical device company's stock. Barrington Research's price objective would suggest a potential upside of 13.52% from the stock's current price.

Several other research analysts have also commented on OFIX. Wall Street Zen upgraded shares of Orthofix Medical from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. JMP Securities reaffirmed a "market perform" rating on shares of Orthofix Medical in a report on Friday, June 6th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $21.75.

Orthofix Medical Price Performance

Shares of NASDAQ:OFIX traded up $0.12 during trading on Tuesday, reaching $14.98. The company had a trading volume of 20,245 shares, compared to its average volume of 338,310. Orthofix Medical has a twelve month low of $10.24 and a twelve month high of $20.73. The firm has a market capitalization of $591.36 million, a PE ratio of -4.71 and a beta of 0.86. The firm's fifty day moving average is $13.36 and its 200 day moving average is $13.12. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.50 and a current ratio of 2.67.

Orthofix Medical (NASDAQ:OFIX - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The medical device company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.04 by ($0.40). Orthofix Medical had a negative net margin of 15.29% and a negative return on equity of 25.43%. The firm had revenue of $203.12 million for the quarter, compared to analyst estimates of $196.89 million. Orthofix Medical has set its FY 2025 guidance at EPS. On average, equities analysts forecast that Orthofix Medical will post -2.81 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Bank of America Corp DE lifted its position in Orthofix Medical by 14.0% in the fourth quarter. Bank of America Corp DE now owns 48,608 shares of the medical device company's stock valued at $849,000 after purchasing an additional 5,966 shares during the last quarter. Lazard Asset Management LLC bought a new position in shares of Orthofix Medical during the fourth quarter valued at approximately $45,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Orthofix Medical by 4.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,348 shares of the medical device company's stock valued at $338,000 after acquiring an additional 836 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Orthofix Medical by 14.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 71,371 shares of the medical device company's stock valued at $1,246,000 after acquiring an additional 8,772 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Orthofix Medical by 1,585.1% during the first quarter. GAMMA Investing LLC now owns 22,867 shares of the medical device company's stock valued at $373,000 after acquiring an additional 21,510 shares in the last quarter. Hedge funds and other institutional investors own 89.76% of the company's stock.

Orthofix Medical Company Profile

Orthofix Medical Inc operates as a spine and orthopedics company in the United States, Italy, Germany, the United Kingdom, France, Brazil, and internationally. It operates through two segments, Global Spine and Global Orthopedics. The Global Spine segment manufactures and distributes bone growth stimulator devices for enhance of bone fusion, including adjunctive and noninvasive treatment of cervical and lumbar spine, as well as a therapeutic treatment for non-spine; designs, develops, and markets a portfolio of motion preservation and fixation implant products, which are used in surgical procedures of the spine; and offers biological products, such as fiber-based and particulate demineralized bone matrices, cellular bone allografts, collagen ceramic matrices, and synthetic bone void fillers, and tissue forms, which allow physicians to treat various spinal and orthopedic conditions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.