Orthofix Medical Inc. $OFIX Shares Sold by Armistice Capital LLC

Key Points

• Armistice Capital LLC has reduced its stake in Orthofix Medical by 1.2%, maintaining a position worth approximately $48.34 million and holding about 7.60% of the company.
• Orthofix Medical reported a significant loss of ($0.36) earnings per share, missing the consensus estimate, although the revenue surpassed expectations at $203.12 million.
• Analysts have varied opinions on the stock, with a consensus rating of "Buy" and an average price target of $21.50, indicating potential growth from its current price around $14.98.

Armistice Capital LLC lessened its stake in shares of Orthofix Medical Inc. (NASDAQ:OFIX - Free Report) by 1.2% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,964,000 shares of the medical device company's stock after selling 36,000 shares during the quarter. Orthofix Medical makes up approximately 0.7% of Armistice Capital LLC's portfolio, making the stock its 25th biggest position. Armistice Capital LLC owned 7.60% of Orthofix Medical worth $48,343,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Wells Fargo & Company MN lifted its stake in Orthofix Medical by 22.8% in the fourth quarter. Wells Fargo & Company MN now owns 24,007 shares of the medical device company's stock worth $419,000 after acquiring an additional 4,462 shares during the period. Raymond James Financial Inc. purchased a new stake in Orthofix Medical in the fourth quarter worth $1,003,000. Dimensional Fund Advisors LP lifted its stake in Orthofix Medical by 31.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 659,475 shares of the medical device company's stock worth $11,515,000 after acquiring an additional 159,177 shares during the period. Tower Research Capital LLC TRC lifted its stake in Orthofix Medical by 120.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 8,458 shares of the medical device company's stock worth $148,000 after acquiring an additional 4,627 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its position in shares of Orthofix Medical by 7.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 36,425 shares of the medical device company's stock valued at $636,000 after buying an additional 2,507 shares during the period. Hedge funds and other institutional investors own 89.76% of the company's stock.

Analyst Ratings Changes

Several equities analysts have commented on the company. Wall Street Zen raised Orthofix Medical from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. JMP Securities reiterated a "market perform" rating on shares of Orthofix Medical in a research note on Friday, June 6th. Finally, Barrington Research upgraded Orthofix Medical to a "strong-buy" rating and set a $16.00 price objective for the company in a research note on Monday, June 23rd. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, Orthofix Medical has a consensus rating of "Buy" and an average price target of $21.50.

Insiders Place Their Bets

In other Orthofix Medical news, insider Aviva Mcpherron sold 3,728 shares of Orthofix Medical stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $10.51, for a total value of $39,181.28. Following the completion of the transaction, the insider directly owned 46,322 shares of the company's stock, valued at $486,844.22. The trade was a 7.45% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.30% of the stock is currently owned by corporate insiders.

Orthofix Medical Stock Down 0.4%

Orthofix Medical stock traded down $0.07 during trading hours on Friday, reaching $14.64. The stock had a trading volume of 80,772 shares, compared to its average volume of 335,657. The company has a market cap of $577.94 million, a price-to-earnings ratio of -4.62 and a beta of 0.86. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.67 and a quick ratio of 1.50. The business's 50 day moving average price is $12.48 and its 200-day moving average price is $13.41. Orthofix Medical Inc. has a 52 week low of $10.24 and a 52 week high of $20.73.

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

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.