Orthofix Medical (NASDAQ:OFIX) Major Shareholder Acquires 675,000 Shares of Company Stock

Key Points

• Major shareholder Juniper Investment Company acquired 675,000 Orthofix shares at an average $7.41 each, spending about $5.0 million and increasing its stake by 17.9% to 4.45 million shares.
• Orthofix reported quarterly adjusted earnings per share of a loss of $0.15, beating estimates for a $0.26 loss, while revenue of $207.86 million fell short of expectations.
• Shares fell 3.3% to $6.94 in Thursday trading. Analysts’ consensus rating was Hold, with an average price target of $14.75.

Orthofix Medical Inc. (NASDAQ:OFIX - Get Free Report) major shareholder Juniper Investment Company, Ll acquired 675,000 shares of the firm's stock in a transaction that occurred on Monday, November 9th. The stock was acquired at an average price of $7.41 per share, with a total value of $5,001,750.00. Following the completion of the transaction, the insider directly owned 4,446,216 shares in the company, valued at $32,946,460.56. This trade represents a 17.90% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own more than 10% of a company's stock are required to disclose their sales and purchases with the SEC.

Juniper Investment Company, Ll also recently made the following trade(s):

• On Wednesday, November 11th, Juniper Investment Company, Ll bought 14,803 shares of Orthofix Medical stock. The shares were acquired at an average cost of $7.04 per share, with a total value of $104,213.12.

Orthofix Medical Stock Down 3.3%

NASDAQ OFIX traded down $0.24 during trading hours on Thursday, reaching $6.94. 560,217 shares of the company's stock were exchanged, compared to its average volume of 375,534. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.67 and a current ratio of 3.11. The company has a market capitalization of $282.69 million, a price-to-earnings ratio of -6.20 and a beta of 0.66. The company's 50-day moving average is $9.16 and its two-hundred day moving average is $10.89. Orthofix Medical Inc. has a one year low of $6.52 and a one year high of $16.42.

Orthofix Medical (NASDAQ:OFIX - Get Free Report) last announced its quarterly earnings results on Monday, November 9th. The medical device company reported ($0.15) earnings per share for the quarter, beating analysts' consensus estimates of ($0.26) by $0.11. The firm had revenue of $207.86 million for the quarter, compared to analyst estimates of $210.52 million. Orthofix Medical had a negative net margin of 5.39% and a negative return on equity of 10.32%. On average, analysts forecast that Orthofix Medical Inc. will post -1.29 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Canaccord Genuity Group cut their price objective on shares of Orthofix Medical from $18.00 to $13.00 and set a "buy" rating on the stock in a research report on Monday, August 10th. TD Cowen reiterated a "hold" rating on shares of Orthofix Medical in a report on Tuesday. Finally, Weiss Ratings downgraded Orthofix Medical from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Tuesday, November 3rd. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Orthofix Medical currently has an average rating of "Hold" and an average price target of $14.75.

Hedge Funds Weigh In On Orthofix Medical

A number of large investors have recently modified their holdings of the business. BlackRock Inc. acquired a new stake in shares of Orthofix Medical in the second quarter valued at about $30,405,000. Paradigm Capital Management Inc. NY acquired a new position in Orthofix Medical during the second quarter valued at approximately $30,167,000. Bank of America Corp DE acquired a new position in Orthofix Medical during the second quarter valued at approximately $2,667,000. Engine Capital Management LP boosted its position in Orthofix Medical by 3.2% during the first quarter. Engine Capital Management LP now owns 4,390,779 shares of the medical device company's stock valued at $50,362,000 after purchasing an additional 137,858 shares during the last quarter. Finally, Great Lakes Advisors LLC bought a new position in Orthofix Medical in the second quarter valued at approximately $1,236,000. 89.76% of the stock is currently owned by institutional investors and hedge funds.

Orthofix Medical Company Profile

Orthofix Medical Inc. develops and markets medical technologies for spine and orthopedic care. Its products include spinal implants and biologics, bone growth stimulation systems, and solutions used in fracture treatment and limb reconstruction. The company serves hospitals, surgeons, and other health care providers through its Orthofix and SeaSpine businesses. Its offerings span surgical products as well as noninvasive and specialized orthopedic treatments. Orthofix and SeaSpine completed a merger in 2023, combining their spine and orthopedic product portfolios.

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