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 grew its holdings in Orthofix Medical Inc. (NASDAQ:OFIX - Free Report) by 8.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,741,390 shares of the medical device company's stock after buying an additional 290,646 shares during the quarter. Orthofix Medical accounts for 11.6% of Engine Capital Management LP's investment portfolio, making the stock its largest position. Engine Capital Management LP owned about 9.59% of Orthofix Medical worth $61,022,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Orthofix Medical by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 2,181,313 shares of the medical device company's stock valued at $35,577,000 after acquiring an additional 54,528 shares during the last quarter. Juniper Investment Company LLC grew its position in shares of Orthofix Medical by 123.5% in the fourth quarter. Juniper Investment Company LLC now owns 1,937,249 shares of the medical device company's stock valued at $33,824,000 after purchasing an additional 1,070,656 shares during the period. Soleus Capital Management L.P. grew its position in shares of Orthofix Medical by 13.1% in the fourth quarter. Soleus Capital Management L.P. now owns 686,374 shares of the medical device company's stock valued at $11,984,000 after purchasing an additional 79,441 shares during the period. Dimensional Fund Advisors LP grew its position in Orthofix Medical by 31.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 659,475 shares of the medical device company's stock valued at $11,515,000 after acquiring an additional 159,177 shares during the period. Finally, Emerald Mutual Fund Advisers Trust lifted its stake in shares of Orthofix Medical by 2.1% during the first quarter. Emerald Mutual Fund Advisers Trust now owns 514,524 shares of the medical device company's stock worth $8,392,000 after purchasing an additional 10,722 shares in the last quarter. 89.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Orthofix Medical

In other news, insider Aviva Mcpherron sold 3,728 shares of the stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $10.51, for a total transaction of $39,181.28. Following the completion of the transaction, 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 filing with the SEC, which is available at the SEC website. 1.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on OFIX shares. Barrington Research raised 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. JMP Securities reiterated a "market perform" rating on shares of Orthofix Medical in a research note on Friday, June 6th. Finally, Wall Street Zen raised Orthofix Medical from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Orthofix Medical has an average rating of "Buy" and a consensus price target of $21.50.

Orthofix Medical Trading Up 0.8%

NASDAQ:OFIX traded up $0.12 during trading hours on Tuesday, hitting $14.82. 146,325 shares of the stock were exchanged, compared to its average volume of 336,413. The company's 50 day moving average is $12.62 and its two-hundred day moving average is $13.29. Orthofix Medical Inc. has a twelve month low of $10.24 and a twelve month high of $20.73. The company has a quick ratio of 1.50, a current ratio of 2.67 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $585.04 million, a P/E ratio of -4.67 and a beta of 0.86.

Orthofix Medical (NASDAQ:OFIX - Get Free Report) last released 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 firm had revenue of $203.12 million for the quarter, compared to the consensus estimate of $196.89 million. Orthofix Medical has set its FY 2025 guidance at EPS. On average, sell-side analysts anticipate that Orthofix Medical Inc. will post -2.81 earnings per share for the current fiscal year.

About Orthofix Medical

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.