Orthofix Medical Inc. (NASDAQ:OFIX) to Post Q1 2024 Earnings of ($0.55) Per Share, Roth Capital Forecasts

Orthofix Medical Inc. (NASDAQ:OFIX) – Roth Capital upped their Q1 2024 earnings per share (EPS) estimates for Orthofix Medical in a research report issued on Monday, May 6th. Roth Capital analyst J. Wittes now expects that the medical device company will earn ($0.55) per share for the quarter, up from their previous forecast of ($0.57). Roth Capital currently has a “Buy” rating on the stock. The consensus estimate for Orthofix Medical’s current full-year earnings is ($1.51) per share. Roth Capital also issued estimates for Orthofix Medical’s Q2 2024 earnings at ($0.28) EPS, Q3 2024 earnings at ($0.23) EPS, Q4 2024 earnings at ($0.01) EPS, FY2024 earnings at ($1.06) EPS, FY2025 earnings at ($0.17) EPS and FY2026 earnings at $0.20 EPS.

A number of other equities research analysts also recently weighed in on OFIX. JMP Securities reaffirmed a “market perform” rating on shares of Orthofix Medical in a research note on Monday, April 22nd. Roth Mkm upgraded shares of Orthofix Medical from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $15.00 to $20.00 in a research note on Wednesday. Finally, StockNews.com upgraded Orthofix Medical from a “sell” rating to a “hold” rating in a research note on Wednesday. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $18.00.

Orthofix Medical Stock Down 2.8 %

Shares of Orthofix Medical stock opened at $14.49 on Wednesday. Orthofix Medical has a 1 year low of $9.57 and a 1 year high of $21.60. The stock has a 50-day moving average price of $13.69 and a 200 day moving average price of $13.04. The company has a current ratio of 2.54, a quick ratio of 1.20 and a debt-to-equity ratio of 0.19. The company has a market cap of $542.07 million, a P/E ratio of -3.50 and a beta of 1.06.

Orthofix Medical (NASDAQ:OFIX) last announced its quarterly earnings data on Tuesday, March 5th. The medical device company reported ($0.59) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.60) by $0.01. The firm had revenue of $200.42 million during the quarter. Orthofix Medical had a negative return on equity of 10.63% and a negative net margin of 20.28%.

Institutional Trading of Orthofix Medical

Several large investors have recently made changes to their positions in the business. Rubric Capital Management LP grew its holdings in shares of Orthofix Medical by 6.7% during the fourth quarter. Rubric Capital Management LP now owns 3,665,000 shares of the medical device company’s stock worth $49,404,000 after purchasing an additional 230,335 shares during the last quarter. Armistice Capital LLC grew its holdings in shares of Orthofix Medical by 21.5% during the fourth quarter. Armistice Capital LLC now owns 3,600,000 shares of the medical device company’s stock worth $48,528,000 after purchasing an additional 636,000 shares during the last quarter. Engine Capital Management LP bought a new stake in shares of Orthofix Medical during the fourth quarter worth $40,916,000. Vanguard Group Inc. grew its holdings in shares of Orthofix Medical by 3.3% during the third quarter. Vanguard Group Inc. now owns 2,486,073 shares of the medical device company’s stock worth $31,971,000 after purchasing an additional 79,793 shares during the last quarter. Finally, AWM Investment Company Inc. grew its holdings in shares of Orthofix Medical by 77.4% during the third quarter. AWM Investment Company Inc. now owns 598,463 shares of the medical device company’s stock worth $7,696,000 after purchasing an additional 261,081 shares during the last quarter. Institutional investors own 89.76% of the company’s stock.

Orthofix Medical Company Profile

Orthofix Medical Inc operates as a spine and orthopedics company in the United States, Italy, Germany, the United Kingdom, France, Brazil, and internationally. It operates through two segments, Global Spine and Global Orthopedics. The Global Spine segment manufactures and distributes bone growth stimulator devices for enhance of bone fusion, including adjunctive and noninvasive treatment of cervical and lumbar spine, as well as a therapeutic treatment for non-spine; designs, develops, and markets a portfolio of motion preservation and fixation implant products, which are used in surgical procedures of the spine; and offers biological products, such as fiber-based and particulate demineralized bone matrices, cellular bone allografts, collagen ceramic matrices, and synthetic bone void fillers, and tissue forms, which allow physicians to treat various spinal and orthopedic conditions.