Insider Buying: Orthofix Medical (NASDAQ:OFIX) Major Shareholder Buys 41,946 Shares of Stock

Key Points

• Engine Capital Management bought 41,946 shares of Orthofix on May 6 at $12.23, increasing its stake to 3,821,285 shares (a 1.11% ownership increase) valued at about $46.7M.
• The firm has been steadily accumulating shares — roughly 322,754 shares across recent trades (including May 5 and May 7 and February purchases) for approximately $3.97M total — indicating continued insider institutional buying.
• Orthofix shares traded at $12.07 (down ~1%), with a market cap of ~$484M; the company reported Q results with EPS of -$0.52 beating estimates and revenue roughly in line, but remains unprofitable and carries a consensus analyst rating of "Hold" with an average price target of $17.25.

Orthofix Medical Inc. (NASDAQ:OFIX - Get Free Report) major shareholder Engine Capital Management, Lp bought 41,946 shares of the business's stock in a transaction that occurred on Wednesday, May 6th. The shares were acquired at an average price of $12.23 per share, for a total transaction of $512,999.58. Following the transaction, the insider owned 3,821,285 shares in the company, valued at $46,734,315.55. This represents a 1.11% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Major shareholders that own more than 10% of a company's stock are required to disclose their transactions with the SEC.

Engine Capital Management, Lp also recently made the following trade(s):

• On Thursday, May 7th, Engine Capital Management, Lp bought 30,000 shares of Orthofix Medical stock. The shares were acquired at an average price of $12.18 per share, for a total transaction of $365,400.00.
• On Tuesday, May 5th, Engine Capital Management, Lp bought 112,950 shares of Orthofix Medical stock. The shares were acquired at an average price of $11.99 per share, for a total transaction of $1,354,270.50.
• On Wednesday, February 25th, Engine Capital Management, Lp bought 13,061 shares of Orthofix Medical stock. The shares were acquired at an average price of $12.96 per share, for a total transaction of $169,270.56.
• On Tuesday, February 24th, Engine Capital Management, Lp purchased 124,797 shares of Orthofix Medical stock. The stock was purchased at an average price of $12.55 per share, for a total transaction of $1,566,202.35.

Orthofix Medical Stock Down 1.0%

NASDAQ:OFIX traded down $0.12 on Thursday, hitting $12.07. The stock had a trading volume of 446,930 shares, compared to its average volume of 268,323. The business's fifty day moving average is $12.21 and its 200 day moving average is $13.91. The company has a market cap of $484.49 million, a PE ratio of -7.99 and a beta of 0.79. The company has a quick ratio of 1.43, a current ratio of 2.87 and a debt-to-equity ratio of 0.54. Orthofix Medical Inc. has a 52 week low of $10.24 and a 52 week high of $16.99.

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, topping the consensus estimate of ($0.68) by $0.16. The business had revenue of $196.71 million for the quarter, compared to analyst estimates of $196.40 million. Orthofix Medical had a negative return on equity of 13.44% and a negative net margin of 7.27%. On average, equities research analysts expect that Orthofix Medical Inc. will post -1.57 EPS for the current fiscal year.

Hedge Funds Weigh In On Orthofix Medical

Several institutional investors and hedge funds have recently bought and sold shares of the company. Rubric Capital Management LP grew its holdings in Orthofix Medical by 0.7% during the second quarter. Rubric Capital Management LP now owns 3,721,715 shares of the medical device company's stock valued at $41,497,000 after purchasing an additional 26,769 shares during the period. Juniper Investment Company LLC grew its holdings in Orthofix Medical by 23.3% during the fourth quarter. Juniper Investment Company LLC now owns 3,510,333 shares of the medical device company's stock valued at $53,217,000 after purchasing an additional 663,278 shares during the period. Paradigm Capital Management Inc. NY grew its holdings in Orthofix Medical by 34.6% during the second quarter. Paradigm Capital Management Inc. NY now owns 3,340,600 shares of the medical device company's stock valued at $37,248,000 after purchasing an additional 858,900 shares during the period. Armistice Capital LLC grew its holdings in Orthofix Medical by 18.4% during the fourth quarter. Armistice Capital LLC now owns 2,648,000 shares of the medical device company's stock valued at $40,144,000 after purchasing an additional 412,000 shares during the period. Finally, Millennium Management LLC grew its holdings in Orthofix Medical by 86.6% during the third quarter. Millennium Management LLC now owns 1,475,718 shares of the medical device company's stock valued at $21,605,000 after purchasing an additional 684,850 shares during the period. 89.76% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Barrington Research reissued an "outperform" rating and issued a $17.00 price objective on shares of Orthofix Medical in a research note on Friday, April 10th. Canaccord Genuity Group lowered their price objective on Orthofix Medical from $24.00 to $20.00 and set a "buy" rating for the company in a research note on Thursday, February 26th. TD Cowen started coverage on Orthofix Medical in a research note on Tuesday, January 27th. They issued a "hold" rating and a $14.00 price objective for the company. Stifel Nicolaus decreased their price target on Orthofix Medical from $22.00 to $18.00 and set a "buy" rating for the company in a research report on Monday, March 9th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Orthofix Medical in a research report on Tuesday, April 21st. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Orthofix Medical presently has an average rating of "Hold" and an average price target of $17.25.

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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