Orthofix Medical (NASDAQ:OFIX) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded Orthofix Medical from a "hold" to a "buy," though the analyst consensus remains an overall "Hold" with a mean price target of $18.25 (three Buys, two Holds, one Sell).
• Orthofix missed on quarterly EPS, reporting (‑$0.06) versus $0.44 expected while revenue of $219.9M was roughly in line; the company has negative net margin and ROE, and analysts forecast about (‑2.81) EPS for the fiscal year.
• The stock opened at $12.62 (12‑month range $10.24–$17.28) with a market cap of ~$506.6M and a negative P/E, and insiders including the CEO and CFO have recently sold shares.

Orthofix Medical (NASDAQ:OFIX - Get Free Report) was upgraded by Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Saturday.

A number of other equities research analysts have also recently weighed in on the stock. Weiss Ratings restated a "sell (d-)" rating on shares of Orthofix Medical in a report on Thursday, January 22nd. TD Cowen assumed coverage on shares of Orthofix Medical in a report on Tuesday, January 27th. They set a "hold" rating and a $14.00 target price for the company. Canaccord Genuity Group dropped their price target on Orthofix Medical from $24.00 to $20.00 and set a "buy" rating on the stock in a research report on Thursday, February 26th. Finally, Barrington Research cut their price target on Orthofix Medical from $18.00 to $17.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 25th. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $18.25.

Orthofix Medical Stock Performance

Shares of Orthofix Medical stock opened at $12.62 on Friday. Orthofix Medical has a 12 month low of $10.24 and a 12 month high of $17.28. The firm has a market capitalization of $506.57 million, a P/E ratio of -5.39 and a beta of 0.75. The company has a current ratio of 2.45, a quick ratio of 1.43 and a debt-to-equity ratio of 0.39. The business has a fifty day simple moving average of $13.85 and a two-hundred day simple moving average of $14.66.

Orthofix Medical (NASDAQ:OFIX - Get Free Report) last released its earnings results on Tuesday, February 24th. The medical device company reported ($0.06) earnings per share for the quarter, missing analysts' consensus estimates of $0.44 by ($0.50). The business had revenue of $219.91 million during the quarter, compared to analysts' expectations of $218.72 million. Orthofix Medical had a negative return on equity of 20.38% and a negative net margin of 11.21%. On average, equities analysts forecast that Orthofix Medical will post -2.81 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Julie Andrews sold 4,873 shares of the firm's stock in a transaction on Friday, January 16th. The stock was sold at an average price of $14.38, for a total value of $70,073.74. Following the transaction, the chief financial officer directly owned 58,039 shares in the company, valued at $834,600.82. This trade represents a 7.75% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Massimo Calafiore sold 9,797 shares of Orthofix Medical stock in a transaction on Monday, January 12th. The stock was sold at an average price of $15.21, for a total value of $149,012.37. Following the completion of the sale, the chief executive officer directly owned 217,237 shares of the company's stock, valued at $3,304,174.77. The trade was a 4.32% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 24,270 shares of company stock valued at $370,958 in the last ninety days. 1.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Orthofix Medical

A number of large investors have recently made changes to their positions in OFIX. CWM LLC increased its position in shares of Orthofix Medical by 99.0% during the 3rd quarter. CWM LLC now owns 1,920 shares of the medical device company's stock valued at $28,000 after purchasing an additional 955 shares during the last quarter. State of Alaska Department of Revenue bought a new stake in Orthofix Medical during the third quarter valued at approximately $30,000. Kestra Advisory Services LLC purchased a new stake in Orthofix Medical during the fourth quarter valued at approximately $56,000. Mackenzie Financial Corp bought a new position in Orthofix Medical in the third quarter worth approximately $148,000. Finally, Strs Ohio purchased a new position in shares of Orthofix Medical during the 1st quarter worth $150,000. 89.76% of the stock is currently owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.