Orthofix Medical (NASDAQ:OFIX – Get Free Report) had its target price lowered by investment analysts at Stifel Nicolaus from $18.00 to $15.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the medical device company’s stock. Stifel Nicolaus’ price target indicates a potential upside of 44.09% from the company’s previous close.
OFIX has been the topic of several other research reports. Canaccord Genuity Group set a $18.00 target price on Orthofix Medical in a research report on Thursday. Wall Street Zen cut Orthofix Medical from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Barrington Research reiterated an “outperform” rating and set a $17.00 target price on shares of Orthofix Medical in a research report on Friday, April 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Orthofix Medical in a research report on Tuesday, April 21st. Finally, TD Cowen reiterated a “hold” rating on shares of Orthofix Medical in a research report on Thursday. Three investment 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.com, Orthofix Medical presently has a consensus rating of “Hold” and an average target price of $16.00.
View Our Latest Stock Report on OFIX
Orthofix Medical Stock Performance
Orthofix Medical (NASDAQ:OFIX – Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The medical device company reported ($0.52) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.68) by $0.16. The firm had revenue of $196.71 million for the quarter, compared to analyst estimates of $196.40 million. Orthofix Medical had a negative return on equity of 13.44% and a negative net margin of 7.27%. On average, equities research analysts expect that Orthofix Medical will post -1.37 earnings per share for the current year.
Insider Transactions at Orthofix Medical
In other news, major shareholder Engine Capital Management, Lp bought 30,000 shares of Orthofix Medical stock in a transaction on Thursday, May 7th. The shares were bought at an average cost of $12.18 per share, for a total transaction of $365,400.00. Following the acquisition, the insider owned 3,848,573 shares in the company, valued at approximately $46,875,619.14. This trade represents a 0.79% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Jorge Andres Cedron sold 3,743 shares of the company’s stock in a transaction that occurred on Thursday, April 16th. The shares were sold at an average price of $12.82, for a total transaction of $47,985.26. Following the transaction, the insider directly owned 59,006 shares in the company, valued at $756,456.92. The trade was a 5.97% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders acquired 327,754 shares of company stock worth $4,029,443 over the last quarter. Insiders own 2.70% of the company’s stock.
Institutional Inflows and Outflows
A number of large investors have recently made changes to their positions in the business. CWM LLC increased its stake in shares of Orthofix Medical by 99.0% during the 3rd quarter. CWM LLC now owns 1,920 shares of the medical device company’s stock valued at $28,000 after acquiring an additional 955 shares during the last quarter. State of Alaska Department of Revenue acquired a new stake in shares of Orthofix Medical during the 3rd quarter worth $30,000. Kestra Advisory Services LLC acquired a new stake in shares of Orthofix Medical during the 4th quarter worth $56,000. Strs Ohio purchased a new stake in shares of Orthofix Medical during the 1st quarter worth about $150,000. Finally, Mackenzie Financial Corp purchased a new stake in shares of Orthofix Medical during the 3rd quarter worth about $148,000. Hedge funds and other institutional investors own 89.76% of the company’s stock.
About Orthofix Medical
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.
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