Orthofix Medical (NASDAQ:OFIX) Receives New Coverage from Analysts at StockNews.com

Posted by on Apr 27th, 2023

Stock analysts at StockNews.com started coverage on shares of Orthofix Medical (NASDAQ:OFIX – Get Rating) in a research note issued to investors on Thursday. The firm set a “buy” rating on the medical device company’s stock.

Orthofix Medical Stock Down 1.5 %

Shares of OFIX opened at $18.42 on Thursday. The firm has a market cap of $671.52 million, a P/E ratio of -18.80 and a beta of 0.86. Orthofix Medical has a 12-month low of $13.76 and a 12-month high of $32.03. The company’s 50-day moving average price is $18.31 and its 200 day moving average price is $18.54. The company has a current ratio of 3.06, a quick ratio of 1.86 and a debt-to-equity ratio of 0.06.

Orthofix Medical (NASDAQ:OFIX – Get Rating) last issued its quarterly earnings data on Monday, March 6th. The medical device company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.37) by $0.56. The firm had revenue of $122.23 million for the quarter, compared to analyst estimates of $121.90 million. Orthofix Medical had a negative net margin of 4.29% and a positive return on equity of 1.67%. During the same period in the previous year, the firm earned $0.27 EPS. On average, sell-side analysts forecast that Orthofix Medical will post -1.75 earnings per share for the current year.

Insiders Place Their Bets

In other Orthofix Medical news, Director Shweta Maniar sold 4,262 shares of the business’s stock in a transaction dated Friday, March 10th. The shares were sold at an average price of $17.75, for a total transaction of $75,650.50. Following the sale, the director now directly owns 20,080 shares in the company, valued at $356,420. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.50% of the company’s stock.

Hedge Funds Weigh In On Orthofix Medical

A number of institutional investors and hedge funds have recently made changes to their positions in OFIX. Quantbot Technologies LP acquired a new position in shares of Orthofix Medical during the first quarter worth about $39,000. CWM LLC boosted its holdings in Orthofix Medical by 433.4% in the fourth quarter. CWM LLC now owns 1,947 shares of the medical device company’s stock valued at $40,000 after purchasing an additional 1,582 shares in the last quarter. UBS Group AG boosted its holdings in Orthofix Medical by 2,120.8% in the third quarter. UBS Group AG now owns 2,776 shares of the medical device company’s stock valued at $53,000 after purchasing an additional 2,651 shares in the last quarter. US Bancorp DE acquired a new position in Orthofix Medical in the third quarter valued at approximately $57,000. Finally, Mutual of America Capital Management LLC boosted its holdings in Orthofix Medical by 19.0% in the third quarter. Mutual of America Capital Management LLC now owns 3,980 shares of the medical device company’s stock valued at $76,000 after purchasing an additional 636 shares in the last quarter. 98.43% of the stock is owned by institutional investors and hedge funds.

Orthofix Medical Company Profile

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Orthofix Medical, Inc engages in the provision of medical devices. It operates through the following business segments: Global Spine and Global Extremities. The Global Spine reporting segment offers three primary product categories: Bone Growth Therapies, Spinal Implants, and Biologics. The Bone Growth Therapies product category manufactures, distributes, and provides support services of bone growth stimulator devices that enhance bone fusion.

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