Engine Capital Management, Lp Acquires 112,950 Shares of Orthofix Medical (NASDAQ:OFIX) Stock

Key Points

• Engine Capital Management, L.P. bought 112,950 shares of Orthofix on May 5 at $11.99 (≈$1.35M), increasing its position to 3,783,131 shares (a 3.08% increase) valued at about $45.36M, and also added further tranches on May 6, May 7 and in February.
• Orthofix reported Q results on May 5 with EPS of -$0.52, beating the consensus of -$0.68, and revenue of $196.71M roughly in line with estimates, though the company still has negative margins and analysts forecast a -$1.57 FY EPS.
• The stock trades near $12.07 with a market cap of ~$484.5M and a 52‑week range of $10.24–$16.99; analysts have a consensus Hold rating and an average target price of $17.25.

Orthofix Medical Inc. (NASDAQ:OFIX - Get Free Report) major shareholder Engine Capital Management, Lp bought 112,950 shares of Orthofix Medical stock in a transaction that occurred on Tuesday, May 5th. The stock was bought at an average price of $11.99 per share, with a total value of $1,354,270.50. Following the completion of the acquisition, the insider owned 3,783,131 shares in the company, valued at approximately $45,359,740.69. The trade was a 3.08% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own more than 10% of a company's shares are required to disclose their transactions with the SEC.

Engine Capital Management, Lp also recently made the following trade(s):

• On Thursday, May 7th, Engine Capital Management, Lp bought 30,000 shares of Orthofix Medical stock. The stock was bought at an average price of $12.18 per share, with a total value of $365,400.00.
• On Wednesday, May 6th, Engine Capital Management, Lp bought 41,946 shares of Orthofix Medical stock. The stock was bought at an average price of $12.23 per share, with a total value of $512,999.58.
• On Wednesday, February 25th, Engine Capital Management, Lp bought 13,061 shares of Orthofix Medical stock. The stock was bought at an average price of $12.96 per share, with a total value of $169,270.56.
• On Tuesday, February 24th, Engine Capital Management, Lp purchased 124,797 shares of Orthofix Medical stock. The stock was acquired at an average cost of $12.55 per share, for a total transaction of $1,566,202.35.

Orthofix Medical Stock Performance

NASDAQ OFIX traded down $0.12 during trading on Thursday, hitting $12.07. The company's stock had a trading volume of 446,930 shares, compared to its average volume of 268,323. The company has a quick ratio of 1.43, a current ratio of 2.87 and a debt-to-equity ratio of 0.54. The firm has a 50 day moving average price of $12.21 and a 200 day moving average price of $13.91. The firm has a market cap of $484.49 million, a P/E ratio of -7.99 and a beta of 0.79. Orthofix Medical Inc. has a 52 week low of $10.24 and a 52 week high of $16.99.

Orthofix Medical (NASDAQ:OFIX - Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The medical device company reported ($0.52) EPS for the quarter, topping the consensus estimate of ($0.68) by $0.16. The company had revenue of $196.71 million for the quarter, compared to the consensus estimate of $196.40 million. Orthofix Medical had a negative return on equity of 13.44% and a negative net margin of 7.27%. Equities research analysts forecast that Orthofix Medical Inc. will post -1.57 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have commented on OFIX shares. Wall Street Zen downgraded Orthofix Medical from a "buy" rating to a "hold" rating in a research report on Saturday, May 2nd. Barrington Research reaffirmed an "outperform" rating and issued a $17.00 price target on shares of Orthofix Medical in a research report on Friday, April 10th. TD Cowen started coverage on Orthofix Medical in a research report on Tuesday, January 27th. They issued a "hold" rating and a $14.00 price target on the stock. Canaccord Genuity Group dropped their price target on Orthofix Medical from $24.00 to $20.00 and set a "buy" rating on the stock in a research report on Thursday, February 26th. Finally, Stifel Nicolaus lowered their price objective on Orthofix Medical from $22.00 to $18.00 and set a "buy" rating on the stock in a research report on Monday, March 9th. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Orthofix Medical presently has a consensus rating of "Hold" and an average target price of $17.25.

Institutional Trading of Orthofix Medical

Institutional investors and hedge funds have recently modified their holdings of the company. CWM LLC increased its position in shares of 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 period. State of Alaska Department of Revenue bought a new stake in shares of Orthofix Medical during the third quarter valued at approximately $30,000. Kestra Advisory Services LLC bought a new stake in shares of Orthofix Medical during the fourth quarter valued at approximately $56,000. Strs Ohio bought a new stake in shares of Orthofix Medical during the first quarter valued at approximately $150,000. Finally, Mackenzie Financial Corp bought a new stake in shares of Orthofix Medical during the third quarter valued at approximately $148,000. 89.76% of the stock is currently owned by 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.

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