Orthofix Medical Inc. (NASDAQ:OFIX) Given Consensus Rating of "Hold" by Analysts

Key Points

• Analysts have a consensus “Hold” rating on Orthofix Medical, with one sell, one hold and three buy recommendations. The average 12-month price target is $16.00, above the stock’s reported $11.90 opening price.
• Orthofix reported quarterly revenue of $196.71 million and an adjusted loss of $0.52 per share, beating analysts’ estimates, but the company remains unprofitable with negative net margin and return on equity.
• Institutional investors own 89.76% of the stock, while insiders have made net purchases over the past 90 days. A major shareholder acquired 112,950 shares, while an insider sold shares to cover tax withholding obligations.

Orthofix Medical Inc. (NASDAQ:OFIX - Get Free Report) has been given a consensus recommendation of "Hold" by the five research firms that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $16.00.

A number of research analysts have recently issued reports on OFIX shares. Weiss Ratings restated a "sell (d-)" rating on shares of Orthofix Medical in a research report on Friday, July 17th. Canaccord Genuity Group reduced their price objective on shares of Orthofix Medical from $20.00 to $18.00 and set a "buy" rating for the company in a report on Thursday, May 21st. Barrington Research lifted their price objective on shares of Orthofix Medical from $15.00 to $17.00 and gave the stock an "outperform" rating in a report on Monday, July 6th. TD Cowen reissued a "hold" rating on shares of Orthofix Medical in a research report on Thursday, May 21st. Finally, Wall Street Zen lowered shares of Orthofix Medical from a "buy" rating to a "hold" rating in a research report on Saturday, May 2nd.

Orthofix Medical Stock Performance

Shares of Orthofix Medical stock opened at $11.90 on Tuesday. The company's 50 day moving average price is $10.32 and its two-hundred day moving average price is $11.91. Orthofix Medical has a fifty-two week low of $8.85 and a fifty-two week high of $16.99. The firm has a market capitalization of $481.00 million, a P/E ratio of -7.88 and a beta of 0.71. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.87 and a quick ratio of 1.76.

Orthofix Medical (NASDAQ:OFIX - Get Free Report) last released its quarterly earnings data 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 return on equity of 13.44% and a negative net margin of 7.27%.The company had revenue of $196.71 million during the quarter, compared to the consensus estimate of $196.40 million. On average, equities analysts forecast that Orthofix Medical will post -1.4 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Aviva Mcpherron sold 3,670 shares of Orthofix Medical stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $9.38, for a total value of $34,424.60. Following the completion of the transaction, the insider directly owned 66,330 shares in the company, valued at approximately $622,175.40. The trade was a 5.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, major shareholder Engine Capital Management, Lp acquired 112,950 shares of the business's stock in a transaction dated Tuesday, May 5th. The stock was purchased at an average price of $11.99 per share, with a total value of $1,354,270.50. Following the completion of the transaction, the insider directly owned 3,783,131 shares of the company's stock, valued at $45,359,740.69. This trade represents a 3.08% increase in their position. The SEC filing for this purchase provides additional information. In the last ninety days, insiders acquired 189,896 shares of company stock valued at $2,293,970. Company insiders own 2.70% of the company's stock.

Institutional Investors Weigh In On Orthofix Medical

A number of hedge funds have recently made changes to their positions in the business. AQR Capital Management LLC lifted its stake 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 last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Orthofix Medical by 6.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,561 shares of the medical device company's stock valued at $335,000 after buying an additional 1,213 shares in the last quarter. Jane Street Group LLC bought a new position in shares of Orthofix Medical during the first quarter valued at approximately $1,076,000. Strs Ohio bought a new stake in Orthofix Medical in the first quarter worth $150,000. Finally, JPMorgan Chase & Co. increased its stake in Orthofix Medical by 15.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 193,549 shares of the medical device company's stock valued at $2,158,000 after purchasing an additional 26,123 shares in the last quarter. 89.76% of the stock is currently owned by institutional investors.

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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