Orthofix Medical (NASDAQ:OFIX) Major Shareholder Acquires $1,354,270.50 in Stock

Orthofix Medical Inc. (NASDAQ:OFIX) major shareholder Engine Capital Management, Lp purchased 112,950 shares of the stock in a transaction on Tuesday, May 5th. The stock was bought at an average price of $11.99 per share, for a total transaction of $1,354,270.50. Following the completion of the transaction, the insider directly owned 3,783,131 shares of the company’s stock, valued at approximately $45,359,740.69. This trade represents a 3.08% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Engine Capital Management, Lp also recently made the following trade(s):

• On Thursday, May 7th, Engine Capital Management, Lp purchased 30,000 shares of Orthofix Medical stock. The stock was bought at an average price of $12.18 per share, for a total transaction of $365,400.00.
• On Wednesday, May 6th, Engine Capital Management, Lp purchased 41,946 shares of Orthofix Medical stock. The stock was bought at an average price of $12.23 per share, for a total transaction of $512,999.58.
• On Wednesday, February 25th, Engine Capital Management, Lp purchased 13,061 shares of Orthofix Medical stock. The stock was bought at an average price of $12.96 per share, for a total transaction of $169,270.56.
• On Tuesday, February 24th, Engine Capital Management, Lp purchased 124,797 shares of Orthofix Medical stock. The stock was bought at an average price of $12.55 per share, for a total transaction of $1,566,202.35.

Orthofix Medical Price Performance

NASDAQ:OFIX traded down $0.12 during trading hours on Thursday, reaching $12.07. The company had a trading volume of 446,930 shares, compared to its average volume of 268,323. The stock has a 50-day moving average of $12.21 and a two-hundred day moving average of $13.91. Orthofix Medical Inc. has a one year low of $10.24 and a one year high of $16.99. The firm has a market capitalization of $484.49 million, a PE ratio of -7.99 and a beta of 0.79. The company has a quick ratio of 1.43, a current ratio of 2.87 and a debt-to-equity ratio of 0.54.

Orthofix Medical (NASDAQ:OFIX) last announced its quarterly earnings results on Tuesday, May 5th. The medical device company reported ($0.52) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.68) by $0.16. Orthofix Medical had a negative return on equity of 13.44% and a negative net margin of 7.27%.The firm had revenue of $196.71 million for the quarter, compared to analysts’ expectations of $196.40 million. Analysts forecast that Orthofix Medical Inc. will post -1.57 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on OFIX. Stifel Nicolaus lowered their price target on Orthofix Medical from $22.00 to $18.00 and set a “buy” rating on the stock in a research report on Monday, March 9th. TD Cowen began coverage on Orthofix Medical in a report on Tuesday, January 27th. They set a “hold” rating and a $14.00 target price on the stock. Canaccord Genuity Group decreased their target price on Orthofix Medical from $24.00 to $20.00 and set a “buy” rating on the stock in a report on Thursday, February 26th. Wall Street Zen cut Orthofix Medical from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Orthofix Medical in a report on Tuesday, April 21st. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Orthofix Medical presently has a consensus rating of “Hold” and an average price target of $17.25.

Institutional Trading of Orthofix Medical

Large investors have recently made changes to their positions in the business. CWM LLC grew its holdings in shares of Orthofix Medical by 99.0% during the third quarter. CWM LLC now owns 1,920 shares of the medical device company’s stock worth $28,000 after purchasing an additional 955 shares during the last quarter. State of Alaska Department of Revenue bought a new stake in shares of Orthofix Medical during the third quarter worth $30,000. Kestra Advisory Services LLC bought a new stake in shares of Orthofix Medical during the fourth quarter worth $56,000. Abel Hall LLC bought a new position in Orthofix Medical in the first quarter valued at about $139,000. Finally, Mackenzie Financial Corp bought a new position in Orthofix Medical in the third quarter valued at about $148,000. Institutional investors own 89.76% of the company’s stock.

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.