Orthofix Medical Inc. (NASDAQ:OFIX) Given Average Rating of "Hold" by Analysts

Key Points

• Analysts assign Orthofix Medical an average “Hold” rating across five brokerages, with three buys, one hold and one sell. The average 12-month price target is $14.75, above the stock’s reported $9.09 price.
• Orthofix reported quarterly revenue of $210.93 million and an adjusted loss of $0.39 per share, narrowly beating analyst expectations. However, the company remains unprofitable, with a negative net margin and analysts expecting a full-year loss of $1.29 per share.
• The stock has declined toward its 52-week low, trading below both its 50-day and 200-day moving averages. Institutional investors own approximately 89.76% of the company, while insiders own 2.70%.

Orthofix Medical Inc. (NASDAQ:OFIX - Get Free Report) has earned an average rating of "Hold" from the five brokerages that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and three have given a buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $14.75.

A number of equities research analysts have commented on the stock. TD Cowen reaffirmed a "hold" rating on shares of Orthofix Medical in a research report on Thursday, May 21st. Stifel Nicolaus lowered their price target on Orthofix Medical from $18.00 to $15.00 and set a "buy" rating on the stock in a report on Friday, May 22nd. Barrington Research raised their price target on Orthofix Medical from $15.00 to $17.00 and gave the stock an "outperform" rating in a research note on Monday, July 6th. Weiss Ratings raised Orthofix Medical from a "sell (e+)" rating to a "sell (d-)" rating in a report on Friday. Finally, Canaccord Genuity Group reduced their price objective on Orthofix Medical from $18.00 to $13.00 and set a "buy" rating for the company in a research report on Monday, August 10th.

Insider Transactions at Orthofix Medical

In other Orthofix Medical news, insider Aviva McPherron sold 3,670 shares of the business's stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $9.38, for a total transaction of $34,424.60. Following the completion of the sale, the insider directly owned 66,330 shares in the company, valued at $622,175.40. The trade was a 5.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 5,115 shares of company stock valued at $48,900 over the last 90 days. Company insiders own 2.70% of the company's stock.

Hedge Funds Weigh In On Orthofix Medical

A number of institutional investors and hedge funds have recently made changes to their positions in the business. R Squared Ltd increased its stake in shares of Orthofix Medical by 7.2% in the 1st quarter. R Squared Ltd now owns 13,518 shares of the medical device company's stock worth $155,000 after purchasing an additional 904 shares in the last quarter. Gabelli Funds LLC lifted its position in Orthofix Medical by 0.4% during the fourth quarter. Gabelli Funds LLC now owns 235,303 shares of the medical device company's stock valued at $3,567,000 after purchasing an additional 1,000 shares in the last quarter. State of Wyoming grew its holdings in Orthofix Medical by 12.2% during the first quarter. State of Wyoming now owns 14,873 shares of the medical device company's stock valued at $171,000 after purchasing an additional 1,617 shares during the period. Integrated Wealth Concepts LLC bought a new stake in Orthofix Medical during the second quarter valued at about $30,000. Finally, Legal & General Group Plc bought a new stake in Orthofix Medical during the second quarter valued at about $37,000. Hedge funds and other institutional investors own 89.76% of the company's stock.

Orthofix Medical Stock Performance

Shares of NASDAQ OFIX opened at $9.09 on Wednesday. The firm's 50-day moving average price is $10.50 and its 200-day moving average price is $11.00. Orthofix Medical has a 52-week low of $8.61 and a 52-week high of $16.99. The company has a market cap of $370.24 million, a PE ratio of -5.90 and a beta of 0.64. The company has a quick ratio of 1.67, a current ratio of 2.84 and a debt-to-equity ratio of 0.55.

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

Orthofix Medical Company Profile

Orthofix Medical Inc NASDAQ: OFIX is a global medical device company focused on spine and orthopedic care. The company develops and markets products intended to help physicians treat spinal disorders, support bone healing, and address orthopedic injuries and conditions.

Its portfolio includes spinal fixation and motion-preservation systems, interbody implants, bone graft and other biologic products, bone growth stimulation devices, and solutions for limb reconstruction and deformity correction.

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