Insider Buying: Orthofix Medical (NASDAQ:OFIX) Director Buys 5,000 Shares of Stock

Key Points

• Orthofix Medical director John Henneman III bought 5,000 shares at $12.26 each, a $61,300 purchase that increased his stake by 5.83% to 90,809 shares.
• The stock fell 3.5% on Friday to $11.65, despite trading above its average volume and sitting near the lower end of its 52-week range.
• Orthofix beat quarterly EPS estimates with a loss of $0.52 per share versus the expected $0.68 loss, while revenue came in roughly in line with forecasts at $196.7 million.

Orthofix Medical Inc. (NASDAQ:OFIX - Get Free Report) Director John Henneman III acquired 5,000 shares of the stock in a transaction dated Thursday, May 7th. The shares were purchased at an average cost of $12.26 per share, with a total value of $61,300.00. Following the completion of the purchase, the director owned 90,809 shares of the company's stock, valued at approximately $1,113,318.34. The trade was a 5.83% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Orthofix Medical Trading Down 3.5%

Shares of NASDAQ OFIX traded down $0.42 during midday trading on Friday, hitting $11.65. 477,800 shares of the company traded hands, compared to its average volume of 270,757. Orthofix Medical Inc. has a 12-month low of $10.24 and a 12-month high of $16.99. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.43 and a current ratio of 2.87. The stock has a 50-day moving average price of $12.20 and a 200 day moving average price of $13.88. The firm has a market cap of $467.63 million, a P/E ratio of -7.72 and a beta of 0.79.

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

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Orthofix Medical

A number of hedge funds and other institutional investors have recently bought and sold shares of OFIX. AQR Capital Management LLC grew its holdings in Orthofix Medical by 67.7% in the first quarter. AQR Capital Management LLC now owns 20,409 shares of the medical device company's stock worth $333,000 after purchasing an additional 8,241 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Orthofix Medical by 6.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,561 shares of the medical device company's stock worth $335,000 after purchasing an additional 1,213 shares during the period. Jane Street Group LLC purchased a new stake in Orthofix Medical in the first quarter worth about $1,076,000. Strs Ohio purchased a new stake in Orthofix Medical in the first quarter worth about $150,000. Finally, JPMorgan Chase & Co. grew its holdings in Orthofix Medical by 15.6% in the second quarter. JPMorgan Chase & Co. now owns 193,549 shares of the medical device company's stock worth $2,158,000 after purchasing an additional 26,123 shares during the period. Hedge funds and other institutional investors own 89.76% of the company's stock.

About Orthofix Medical

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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