Orthofix Medical (NASDAQ:OFIX) Insider Patrick Fisher Sells 1,295 Shares of Stock

Orthofix Medical Inc. (NASDAQ:OFIX) insider Patrick Fisher sold 1,295 shares of the firm’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $10.09, for a total value of $13,066.55. Following the sale, the insider directly owned 51,219 shares of the company’s stock, valued at approximately $516,799.71. This represents a 2.47% decrease in their ownership of the stock. The sale was disclosed in a legal 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.

Orthofix Medical Stock Down 4.5%

OFIX stock opened at $10.01 on Friday. Orthofix Medical Inc. has a fifty-two week low of $8.85 and a fifty-two week high of $16.99. The company has a market capitalization of $407.71 million, a price-to-earnings ratio of -6.50 and a beta of 0.68. The stock has a fifty day moving average of $10.61 and a 200-day moving average of $11.49. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.67 and a current ratio of 2.84.

Orthofix Medical (NASDAQ:OFIX) last posted its quarterly earnings results on Wednesday, August 5th. The medical device company reported ($0.39) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.41) by $0.02. Orthofix Medical had a negative return on equity of 14.05% and a negative net margin of 7.41%.The business had revenue of $210.93 million for the quarter, compared to analyst estimates of $209.28 million. As a group, equities research analysts predict that Orthofix Medical Inc. will post -1.29 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Kestra Advisory Services LLC purchased a new stake in Orthofix Medical during the 4th quarter valued at about $56,000. Legal & General Group Plc acquired a new position in Orthofix Medical in the 2nd quarter worth about $37,000. CWM LLC raised its stake in shares of Orthofix Medical by 136.4% during the 4th quarter. CWM LLC now owns 4,538 shares of the medical device company’s stock worth $69,000 after buying an additional 2,618 shares during the period. Strs Ohio acquired a new stake in shares of Orthofix Medical in the first quarter valued at about $150,000. Finally, Mackenzie Financial Corp purchased a new stake in Orthofix Medical during the 3rd quarter worth approximately $148,000. Institutional investors own 89.76% of the company’s stock.

Wall Street Analysts Forecast Growth

OFIX has been the subject of a number of recent analyst reports. Barrington Research boosted 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. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Orthofix Medical in a report on Friday, July 17th. Canaccord Genuity Group lowered their price objective on Orthofix Medical from $18.00 to $13.00 and set a “buy” rating on the stock in a research report on Monday, August 10th. Stifel Nicolaus dropped their target price on shares of Orthofix Medical from $18.00 to $15.00 and set a “buy” rating for the company in a report on Friday, May 22nd. Finally, Wall Street Zen cut shares of Orthofix Medical from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $14.75.

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.