Dimensional Fund Advisors LP Trims Stock Holdings in Orthofix Medical Inc. $OFIX

Key Points

• Dimensional Fund Advisors reduced its Orthofix Medical stake by 11.3%, selling 107,566 shares and retaining 841,521 shares worth approximately $9.65 million. Institutional investors collectively own 89.76% of OFIX.
• Orthofix reported a quarterly loss of $0.39 per share, slightly better than analysts’ $0.41 estimate, while revenue of $210.93 million exceeded expectations. Analysts project a full-year loss of $1.40 per share.
• OFIX shares opened at $10.28, compared with a consensus analyst price target of $16.00; ratings are mixed, with three Buys, one Hold and one Sell, resulting in an overall “Hold” consensus.

Dimensional Fund Advisors LP lowered its holdings in Orthofix Medical Inc. (NASDAQ:OFIX - Free Report) by 11.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 841,521 shares of the medical device company's stock after selling 107,566 shares during the period. Dimensional Fund Advisors LP owned approximately 2.10% of Orthofix Medical worth $9,652,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of OFIX. Kestra Advisory Services LLC bought a new stake in Orthofix Medical during the 4th quarter valued at $56,000. CWM LLC raised its stake in shares of Orthofix Medical by 136.4% during the 4th quarter. CWM LLC now owns 4,538 shares of the medical device company's stock valued at $69,000 after purchasing an additional 2,618 shares during the period. Abel Hall LLC purchased a new stake in Orthofix Medical during the 1st quarter worth about $139,000. Mackenzie Financial Corp bought a new position in Orthofix Medical in the 3rd quarter worth about $148,000. Finally, Strs Ohio purchased a new position in Orthofix Medical during the 1st quarter valued at about $150,000. 89.76% of the stock is currently owned by hedge funds and other institutional investors.

Orthofix Medical Price Performance

OFIX opened at $10.28 on Monday. The company has a current ratio of 2.84, a quick ratio of 1.67 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $415.52 million, a P/E ratio of -6.68 and a beta of 0.68. The stock has a 50-day moving average price of $10.52 and a 200-day moving average price of $11.69. Orthofix Medical Inc. has a 12-month low of $8.85 and a 12-month high of $16.99.

Orthofix Medical (NASDAQ:OFIX - Get Free Report) last released its earnings results on Wednesday, August 5th. The medical device company reported ($0.39) earnings per share for the quarter, topping analysts' consensus estimates of ($0.41) by $0.02. The company had revenue of $210.93 million during the quarter, compared to the consensus estimate of $209.28 million. Orthofix Medical had a negative return on equity of 14.05% and a negative net margin of 7.41%. Equities analysts predict that Orthofix Medical Inc. will post -1.4 earnings per share for the current fiscal year.

Insider Activity at Orthofix Medical

In related news, insider Aviva Mcpherron sold 3,670 shares of Orthofix Medical stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $9.38, for a total value of $34,424.60. Following the transaction, the insider owned 66,330 shares in the company, valued at $622,175.40. This trade represents a 5.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 2.70% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on OFIX. Weiss Ratings reissued a "sell (d-)" rating on shares of Orthofix Medical in a report on Friday, July 17th. Barrington Research upped their target price on shares of Orthofix Medical from $15.00 to $17.00 and gave the stock an "outperform" rating in a report on Monday, July 6th. Canaccord Genuity Group lowered their target price on shares of Orthofix Medical from $20.00 to $18.00 and set a "buy" rating on the stock in a research note on Thursday, May 21st. Stifel Nicolaus cut their price target on shares of Orthofix Medical from $18.00 to $15.00 and set a "buy" rating for the company in a report on Friday, May 22nd. Finally, TD Cowen restated a "hold" rating on shares of Orthofix Medical in a research report on Thursday, May 21st. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $16.00.

Orthofix Medical 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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