Wall Street analysts expect Orthofix Medical Inc (NASDAQ:OFIX) to report earnings of $0.37 per share for the current quarter, Zacks reports. Two analysts have issued estimates for Orthofix Medical’s earnings, with the highest EPS estimate coming in at $0.37 and the lowest estimate coming in at $0.36. Orthofix Medical posted earnings of $0.42 per share in the same quarter last year, which suggests a negative year-over-year growth rate of 11.9%. The firm is scheduled to report its next quarterly earnings report on Monday, October 29th.
According to Zacks, analysts expect that Orthofix Medical will report full-year earnings of $1.68 per share for the current fiscal year, with EPS estimates ranging from $1.67 to $1.69. For the next fiscal year, analysts anticipate that the business will post earnings of $1.85 per share, with EPS estimates ranging from $1.76 to $1.94. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that follow Orthofix Medical.
Orthofix Medical (NASDAQ:OFIX) last posted its quarterly earnings data on Monday, August 6th. The medical device company reported $0.42 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.06. Orthofix Medical had a return on equity of 10.74% and a net margin of 2.53%. The company had revenue of $111.50 million during the quarter, compared to analyst estimates of $114.62 million. During the same period in the previous year, the business earned $0.42 EPS. Orthofix Medical’s quarterly revenue was up 2.4% on a year-over-year basis.
Several research firms have commented on OFIX. TheStreet lowered Orthofix Medical from a “b” rating to a “c+” rating in a research note on Wednesday, August 1st. BidaskClub lowered Orthofix Medical from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 31st. Zacks Investment Research upgraded Orthofix Medical from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 4th. Finally, Cantor Fitzgerald boosted their price objective on Orthofix Medical to $66.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 7th. One research analyst has rated the stock with a sell rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $62.25.
NASDAQ:OFIX traded down $0.98 during trading hours on Monday, hitting $53.99. 109,315 shares of the stock were exchanged, compared to its average volume of 144,325. Orthofix Medical has a 52-week low of $47.51 and a 52-week high of $61.98. The firm has a market cap of $1.08 billion, a P/E ratio of 33.33, a price-to-earnings-growth ratio of 3.54 and a beta of 0.36.
In other news, CEO Brad Mason sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, September 5th. The stock was sold at an average price of $53.02, for a total transaction of $132,550.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 5.60% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Bank of Montreal Can boosted its holdings in shares of Orthofix Medical by 32.2% during the 3rd quarter. Bank of Montreal Can now owns 45,020 shares of the medical device company’s stock worth $2,603,000 after purchasing an additional 10,956 shares during the last quarter. United Services Automobile Association boosted its holdings in shares of Orthofix Medical by 37.9% during the 2nd quarter. United Services Automobile Association now owns 5,908 shares of the medical device company’s stock worth $336,000 after purchasing an additional 1,623 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Orthofix Medical by 1.1% during the 2nd quarter. Northern Trust Corp now owns 352,172 shares of the medical device company’s stock worth $20,010,000 after purchasing an additional 3,879 shares during the last quarter. NorthCoast Asset Management LLC boosted its holdings in shares of Orthofix Medical by 8.9% during the 2nd quarter. NorthCoast Asset Management LLC now owns 98,245 shares of the medical device company’s stock worth $5,582,000 after purchasing an additional 8,009 shares during the last quarter. Finally, Bank of America Corp DE boosted its holdings in shares of Orthofix Medical by 65.8% during the 2nd quarter. Bank of America Corp DE now owns 17,524 shares of the medical device company’s stock worth $996,000 after purchasing an additional 6,953 shares during the last quarter. Institutional investors and hedge funds own 93.44% of the company’s stock.
About Orthofix Medical
Orthofix Medical Inc, a medical device company, provides musculoskeletal healing products and value-added services worldwide. It operates through four segments: BioStim, Extremity Fixation, Spine Fixation, and Biologics. The BioStim segment manufactures, distributes, and provides support services for bone growth stimulator devices that enhance bone fusion and are indicated as treatment to enhance fusion success rates in cervical and lumbar spine, as well as a therapeutic treatment for non-spine fractures.
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