Aviva Mcpherron Sells 3,670 Shares of Orthofix Medical (NASDAQ:OFIX) Stock

Orthofix Medical Inc. (NASDAQ:OFIX) insider Aviva Mcpherron sold 3,670 shares of Orthofix Medical stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $9.38, for a total value of $34,424.60. Following the sale, the insider directly owned 66,330 shares in the company, valued at $622,175.40. This trade represents a 5.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Orthofix Medical Price Performance

NASDAQ:OFIX traded down $0.50 during trading hours on Monday, reaching $8.95. The stock had a trading volume of 363,533 shares, compared to its average volume of 318,704. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.76 and a current ratio of 2.87. Orthofix Medical Inc. has a 52 week low of $8.88 and a 52 week high of $16.99. The company has a 50 day moving average price of $11.12 and a two-hundred day moving average price of $12.79. The stock has a market capitalization of $361.76 million, a PE ratio of -5.93 and a beta of 0.72.

Orthofix Medical (NASDAQ:OFIX) last issued its quarterly earnings data on Tuesday, May 5th. The medical device company reported ($0.52) earnings per share (EPS) 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 business had revenue of $196.71 million for the quarter, compared to the consensus estimate of $196.40 million. As a group, sell-side analysts anticipate that Orthofix Medical Inc. will post -1.48 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. AQR Capital Management LLC lifted its holdings in Orthofix Medical by 67.7% in the first quarter. AQR Capital Management LLC now owns 20,409 shares of the medical device company’s stock valued at $333,000 after acquiring an additional 8,241 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Orthofix Medical by 6.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,561 shares of the medical device company’s stock valued at $335,000 after purchasing an additional 1,213 shares in the last quarter. Jane Street Group LLC purchased a new position in shares of Orthofix Medical during the 1st quarter valued at approximately $1,076,000. Strs Ohio acquired a new position in shares of Orthofix Medical in the 1st quarter valued at $150,000. Finally, JPMorgan Chase & Co. boosted its holdings in Orthofix Medical by 15.6% during the second quarter. JPMorgan Chase & Co. now owns 193,549 shares of the medical device company’s stock worth $2,158,000 after buying an additional 26,123 shares in the last quarter. 89.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently weighed in on OFIX. Wall Street Zen downgraded Orthofix Medical from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Orthofix Medical in a report on Tuesday, April 21st. TD Cowen restated a “hold” rating on shares of Orthofix Medical in a report on Thursday, May 21st. Canaccord Genuity Group lowered their price target on shares of Orthofix Medical from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Thursday, May 21st. Finally, Barrington Research dropped their price objective on shares of Orthofix Medical from $17.00 to $15.00 and set an “outperform” rating on the stock in a research note on Friday, May 22nd. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $15.50.

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.