Orthofix Medical Inc. (NASDAQ:OFIX) Receives Average Recommendation of "Hold" from Analysts

Key Points

• Orthofix Medical has a consensus analyst rating of “Hold” from five brokerages, with an average 12-month price target of $15.50.
• The company’s latest earnings beat expectations, reporting -$0.52 EPS versus an expected -$0.68, while revenue came in slightly above estimates at $196.71 million.
• Shares opened at $10.29, near the stock’s 52-week low of $9.13 and well below its 52-week high of $16.99, amid recent insider buying and heavy institutional ownership of 89.76%.

Orthofix Medical Inc. (NASDAQ:OFIX - Get Free Report) has earned a consensus recommendation of "Hold" from the five brokerages that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $15.50.

A number of research analysts have recently issued reports on the stock. 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. TD Cowen restated a "hold" rating on shares of Orthofix Medical in a report on Thursday, May 21st. Wall Street Zen lowered shares of Orthofix Medical from a "buy" rating to a "hold" rating in a research report on Saturday, May 2nd. Stifel Nicolaus lowered their price objective on shares of Orthofix Medical from $18.00 to $15.00 and set a "buy" rating on the stock in a research report on Friday, May 22nd. Finally, Barrington Research lowered their price objective on shares of Orthofix Medical from $17.00 to $15.00 and set an "outperform" rating on the stock in a research report on Friday, May 22nd.

Insider Activity at Orthofix Medical

In other Orthofix Medical news, insider Lucas Vitale sold 4,269 shares of Orthofix Medical stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $11.92, for a total value of $50,886.48. Following the sale, the insider owned 160,449 shares of the company's stock, valued at approximately $1,912,552.08. The trade was a 2.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Engine Capital Management, Lp acquired 30,000 shares of the stock in a transaction on Thursday, May 7th. The stock was bought at an average cost of $12.18 per share, for a total transaction of $365,400.00. Following the transaction, the insider owned 3,848,573 shares of the company's stock, valued at approximately $46,875,619.14. This trade represents a 0.79% 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 worth $2,293,970. Insiders own 2.70% of the company's stock.

Institutional Trading of Orthofix Medical

Several hedge funds and other institutional investors have recently modified their holdings of the business. R Squared Ltd raised its position in shares of Orthofix Medical by 7.2% in the first quarter. R Squared Ltd now owns 13,518 shares of the medical device company's stock valued at $155,000 after purchasing an additional 904 shares during the period. Gabelli Funds LLC raised its position in shares of Orthofix Medical by 0.4% in the fourth quarter. Gabelli Funds LLC now owns 235,303 shares of the medical device company's stock valued at $3,567,000 after purchasing an additional 1,000 shares during the period. Raymond James Financial Inc. raised its position in shares of Orthofix Medical by 1.5% in the third quarter. Raymond James Financial Inc. now owns 66,812 shares of the medical device company's stock valued at $978,000 after purchasing an additional 1,000 shares during the period. Amundi raised its position in shares of Orthofix Medical by 2.7% in the fourth quarter. Amundi now owns 41,527 shares of the medical device company's stock valued at $630,000 after purchasing an additional 1,086 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of 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 valued at $335,000 after purchasing an additional 1,213 shares during the period. Institutional investors own 89.76% of the company's stock.

Orthofix Medical Price Performance

Shares of NASDAQ OFIX opened at $10.29 on Monday. The stock has a market capitalization of $415.92 million, a P/E ratio of -6.81 and a beta of 0.72. The company has a 50-day moving average price of $11.55 and a 200-day moving average price of $13.21. Orthofix Medical has a 1 year low of $9.13 and a 1 year high of $16.99. 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 issued its quarterly earnings data on Tuesday, May 5th. The medical device company reported ($0.52) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.68) by $0.16. The firm had revenue of $196.71 million during the quarter, compared to analysts' expectations of $196.40 million. Orthofix Medical had a negative net margin of 7.27% and a negative return on equity of 13.44%. On average, equities research analysts forecast that Orthofix Medical will post -1.48 EPS for the current fiscal year.

Orthofix Medical Company Profile

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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