Engine Capital Management LP Increases Holdings in Orthofix Medical Inc. $OFIX

Key Points

• Engine Capital Management LP has increased its stake in Orthofix Medical Inc. by 8.4%, owning approximately 3.74 million shares, making it the largest holding in their portfolio.
• Analysts have a consensus rating of “Buy” for Orthofix Medical, with a target price of $21.50, following upgrades from firms such as Barrington Research.
• Orthofix Medical reported a loss of (0.36) earnings per share in their latest earnings results, significantly missing analysts' consensus estimates.

Engine Capital Management LP increased its holdings in shares of Orthofix Medical Inc. (NASDAQ:OFIX - Free Report) by 8.4% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 3,741,390 shares of the medical device company's stock after purchasing an additional 290,646 shares during the period. Orthofix Medical makes up approximately 11.6% of Engine Capital Management LP's holdings, making the stock its largest position. Engine Capital Management LP owned 9.59% of Orthofix Medical worth $61,022,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in OFIX. Lazard Asset Management LLC acquired a new position in shares of Orthofix Medical during the 4th quarter worth about $45,000. US Bancorp DE lifted its position in shares of Orthofix Medical by 684.6% during the 1st quarter. US Bancorp DE now owns 5,673 shares of the medical device company's stock worth $93,000 after purchasing an additional 4,950 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Orthofix Medical by 120.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 8,458 shares of the medical device company's stock worth $148,000 after purchasing an additional 4,627 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in shares of Orthofix Medical during the 1st quarter worth about $164,000. Finally, State of Wyoming lifted its position in shares of Orthofix Medical by 206.8% during the 4th quarter. State of Wyoming now owns 9,432 shares of the medical device company's stock worth $165,000 after purchasing an additional 6,358 shares during the last quarter. Institutional investors and hedge funds own 89.76% of the company's stock.

Analysts Set New Price Targets

OFIX has been the subject of several research analyst reports. Wall Street Zen raised Orthofix Medical from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. JMP Securities reissued a "market perform" rating on shares of Orthofix Medical in a research report on Friday, June 6th. Finally, Barrington Research raised Orthofix Medical to a "strong-buy" rating and set a $16.00 price target for the company in a report on Monday, June 23rd. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $21.50.

Insider Buying and Selling

In related news, insider Aviva Mcpherron sold 3,728 shares of the stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $10.51, for a total transaction of $39,181.28. Following the sale, the insider directly owned 46,322 shares in the company, valued at $486,844.22. This represents a 7.45% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.30% of the stock is currently owned by company insiders.

Orthofix Medical Price Performance

Shares of OFIX traded up $0.15 during mid-day trading on Monday, reaching $14.70. The company had a trading volume of 480,804 shares, compared to its average volume of 337,622. Orthofix Medical Inc. has a twelve month low of $10.24 and a twelve month high of $20.73. 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 company's 50-day moving average is $12.54 and its 200-day moving average is $13.31. The company has a market capitalization of $580.50 million, a P/E ratio of -4.64 and a beta of 0.86.

Orthofix Medical (NASDAQ:OFIX - Get Free Report) last issued its 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 return on equity of 25.43% and a negative net margin of 15.29%.The company had revenue of $203.12 million during the quarter, compared to analyst estimates of $196.89 million. Orthofix Medical has set its FY 2025 guidance at EPS. On average, equities 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.