Orthofix Medical (NASDAQ:OFIX) Shares Down 5.8% Following Weak Earnings

Orthofix Medical Inc. (NASDAQ:OFIX)’s share price fell 5.8% during trading on Tuesday following a dissappointing earnings announcement. The stock traded as low as $12.39 and last traded at $12.7950. 185,213 shares traded hands during trading, a decline of 17% from the average session volume of 223,713 shares. The stock had previously closed at $13.59.

The medical device company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.50). The business had revenue of $219.91 million during the quarter, compared to the consensus estimate of $218.72 million. Orthofix Medical had a negative return on equity of 25.59% and a negative net margin of 14.56%.

Wall Street Analyst Weigh In

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

Insider Transactions at Orthofix Medical

In other Orthofix Medical news, CEO Massimo Calafiore sold 9,797 shares of Orthofix Medical stock in a transaction dated Monday, January 12th. The stock was sold at an average price of $15.21, for a total transaction of $149,012.37. Following the completion of the transaction, the chief executive officer owned 217,237 shares in the company, valued at approximately $3,304,174.77. This trade represents a 4.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Julie Andrews sold 4,873 shares of the company’s stock in a transaction dated Friday, January 16th. The stock was sold at an average price of $14.38, for a total value of $70,073.74. Following the completion of the sale, the chief financial officer owned 58,039 shares in the company, valued at $834,600.82. The trade was a 7.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 24,270 shares of company stock worth $370,958 over the last three months. Corporate insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Orthofix Medical

Hedge funds have recently made changes to their positions in the company. VARCOV Co. purchased a new stake in shares of Orthofix Medical in the fourth quarter valued at about $164,000. Juniper Investment Company LLC lifted its holdings in Orthofix Medical by 23.3% in the fourth quarter. Juniper Investment Company LLC now owns 3,510,333 shares of the medical device company’s stock valued at $53,217,000 after acquiring an additional 663,278 shares during the last quarter. Engineers Gate Manager LP grew its position in Orthofix Medical by 92.6% in the fourth quarter. Engineers Gate Manager LP now owns 85,101 shares of the medical device company’s stock worth $1,290,000 after acquiring an additional 40,923 shares during the period. Balyasny Asset Management L.P. acquired a new stake in Orthofix Medical during the fourth quarter worth $238,000. Finally, Armistice Capital LLC lifted its stake in shares of Orthofix Medical by 18.4% in the 4th quarter. Armistice Capital LLC now owns 2,648,000 shares of the medical device company’s stock valued at $40,144,000 after purchasing an additional 412,000 shares during the last quarter. Institutional investors and hedge funds own 89.76% of the company’s stock.

Orthofix Medical Trading Down 6.3%

The company has a 50 day moving average price of $14.27 and a 200 day moving average price of $14.72. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.38 and a current ratio of 2.47. The firm has a market cap of $504.11 million, a price-to-earnings ratio of -4.20 and a beta of 0.78.

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.