Orthofix Medical (NASDAQ:OFIX) Releases Quarterly Earnings Results, Misses Expectations By $0.50 EPS

Orthofix Medical (NASDAQ:OFIX) released its earnings results on Tuesday. The medical device company reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.44 by ($0.50), FiscalAI reports. Orthofix Medical had a negative return on equity of 25.59% and a negative net margin of 14.56%.The company had revenue of $219.91 million during the quarter, compared to analysts’ expectations of $218.72 million.

Orthofix Medical Trading Down 2.0%

Shares of NASDAQ OFIX opened at $13.59 on Tuesday. Orthofix Medical has a 1-year low of $10.24 and a 1-year high of $20.48. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.47 and a quick ratio of 1.38. The business’s 50 day moving average is $14.27 and its two-hundred day moving average is $14.72. The stock has a market capitalization of $538.16 million, a P/E ratio of -4.49 and a beta of 0.78.

Insider Buying and Selling

In related news, CEO Massimo Calafiore sold 9,797 shares of the firm’s 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 in the company, valued at $3,304,174.77. This trade represents a 4.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Julie Andrews sold 4,873 shares of Orthofix Medical stock in a transaction on Friday, January 16th. The stock was sold at an average price of $14.38, for a total transaction of $70,073.74. Following the transaction, the chief financial officer directly owned 58,039 shares of the company’s stock, valued at $834,600.82. The trade was a 7.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 24,270 shares of company stock valued at $370,958. Company insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Orthofix Medical

Hedge funds and other institutional investors have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its stake in shares of Orthofix Medical by 35.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 63,245 shares of the medical device company’s stock worth $959,000 after purchasing an additional 16,556 shares during the period. Panagora Asset Management Inc. lifted its stake in Orthofix Medical by 27.2% in the fourth quarter. Panagora Asset Management Inc. now owns 61,192 shares of the medical device company’s stock worth $928,000 after purchasing an additional 13,083 shares during the last quarter. Raymond James Financial Inc. lifted its stake in Orthofix Medical by 15.5% in the second quarter. Raymond James Financial Inc. now owns 65,812 shares of the medical device company’s stock worth $734,000 after purchasing an additional 8,848 shares during the last quarter. Rhumbline Advisers boosted its position in shares of Orthofix Medical by 18.1% during the second quarter. Rhumbline Advisers now owns 62,241 shares of the medical device company’s stock valued at $694,000 after buying an additional 9,545 shares during the period. Finally, Wells Fargo & Company MN boosted its position in shares of Orthofix Medical by 45.9% during the fourth quarter. Wells Fargo & Company MN now owns 43,724 shares of the medical device company’s stock valued at $663,000 after buying an additional 13,755 shares during the period. Hedge funds and other institutional investors own 89.76% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. Stifel Nicolaus assumed coverage on shares of Orthofix Medical in a research note on Tuesday, October 28th. They issued a “buy” rating and a $22.00 price target on the stock. Barrington Research reaffirmed an “outperform” rating and issued a $18.00 target price on shares of Orthofix Medical in a report on Tuesday, February 17th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Orthofix Medical in a research report on Thursday, January 22nd. Finally, TD Cowen began coverage on Orthofix Medical in a research note on Tuesday, January 27th. They set a “hold” rating and a $14.00 price target for the company. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Orthofix Medical has an average rating of “Hold” and a consensus target price of $20.00.

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.