Insider Selling: Orthofix Medical (NASDAQ:OFIX) Insider Sells $13,066.55 in Stock

Orthofix Medical Inc. (NASDAQ:OFIX) insider Patrick Fisher sold 1,295 shares of the company’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $10.09, for a total transaction of $13,066.55. Following the completion of the transaction, the insider owned 51,219 shares in the company, valued at approximately $516,799.71. This represents a 2.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Orthofix Medical Stock Performance

Shares of NASDAQ:OFIX opened at $10.01 on Friday. The firm has a fifty day moving average of $10.62 and a two-hundred day moving average of $11.48. The firm has a market capitalization of $407.71 million, a P/E ratio of -6.50 and a beta of 0.68. Orthofix Medical Inc. has a 12-month low of $8.85 and a 12-month high of $16.99. 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 (NASDAQ:OFIX) last posted its quarterly earnings results on Wednesday, August 5th. The medical device company reported ($0.39) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.02. Orthofix Medical had a negative net margin of 7.41% and a negative return on equity of 14.05%. The business had revenue of $210.93 million for the quarter, compared to the consensus estimate of $209.28 million. On average, equities analysts expect that Orthofix Medical Inc. will post -1.29 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Kestra Advisory Services LLC bought a new position in shares of Orthofix Medical in the 4th quarter valued at approximately $56,000. Legal & General Group Plc bought a new stake in Orthofix Medical during the second quarter worth approximately $37,000. CWM LLC boosted its position in Orthofix Medical by 136.4% during the fourth quarter. CWM LLC now owns 4,538 shares of the medical device company’s stock worth $69,000 after purchasing an additional 2,618 shares during the period. Strs Ohio acquired a new position in Orthofix Medical during the first quarter valued at approximately $150,000. Finally, Mackenzie Financial Corp acquired a new position in Orthofix Medical during the third quarter valued at approximately $148,000. Institutional investors and hedge funds own 89.76% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on OFIX shares. Stifel Nicolaus lowered their price target on Orthofix Medical from $18.00 to $15.00 and set a “buy” rating for the company in a research note on Friday, May 22nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Orthofix Medical in a research report on Friday, July 17th. Canaccord Genuity Group reduced their target price on shares of Orthofix Medical from $18.00 to $13.00 and set a “buy” rating for the company in a research note on Monday, August 10th. Wall Street Zen downgraded shares of Orthofix Medical from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Finally, TD Cowen restated a “hold” rating on shares of Orthofix Medical in a research note on Thursday, May 21st. 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $14.75.

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.