Orthofix Medical (NASDAQ:OFIX) Announces Quarterly Earnings Results

Orthofix Medical (NASDAQ:OFIX) released its quarterly earnings data on Monday. The medical device company reported $0.18 EPS for the quarter, topping the consensus estimate of ($0.26) by $0.44, FiscalAI reports. The business had revenue of $207.86 million for the quarter, compared to analyst estimates of $210.52 million. Orthofix Medical had a negative return on equity of 14.05% and a negative net margin of 7.41%.

Orthofix Medical Stock Performance

Shares of Orthofix Medical stock opened at $7.87 on Monday. The firm has a market cap of $320.57 million, a PE ratio of -5.11 and a beta of 0.66. The company has a quick ratio of 1.67, a current ratio of 2.84 and a debt-to-equity ratio of 0.55. Orthofix Medical has a 52 week low of $7.81 and a 52 week high of $16.42. The business’s fifty day simple moving average is $9.29 and its 200-day simple moving average is $10.99.

Wall Street Analysts Forecast Growth

OFIX has been the topic of several analyst reports. Canaccord Genuity Group dropped their price target on shares of Orthofix Medical from $18.00 to $13.00 and set a “buy” rating on the stock in a research report on Monday, August 10th. Weiss Ratings cut Orthofix Medical from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, November 3rd. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $14.75.

About Orthofix Medical

Orthofix Medical Inc is a medical device company focused on spinal and orthopedic solutions. The company develops, manufactures and distributes products designed to help treat spinal disorders, support bone healing and address orthopedic trauma and related musculoskeletal conditions.

Its product portfolio includes spinal fixation and interbody systems, biologics and bone-grafting products, bone growth stimulation devices, and technologies for spinal motion preservation and deformity correction.