Analysts expect Orthofix Medical Inc. (NASDAQ:OFIX) to post sales of $112.90 million for the current quarter, according to Zacks. Two analysts have made estimates for Orthofix Medical’s earnings, with the lowest sales estimate coming in at $112.10 million and the highest estimate coming in at $113.70 million. Orthofix Medical reported sales of $110.99 million during the same quarter last year, which would suggest a positive year over year growth rate of 1.7%. The company is scheduled to announce its next earnings results on Thursday, November 4th.
On average, analysts expect that Orthofix Medical will report full-year sales of $466.55 million for the current year, with estimates ranging from $464.70 million to $468.40 million. For the next year, analysts forecast that the company will report sales of $494.35 million, with estimates ranging from $490.00 million to $498.70 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Orthofix Medical.
Orthofix Medical (NASDAQ:OFIX) last announced its earnings results on Friday, August 6th. The medical device company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.16. Orthofix Medical had a positive return on equity of 6.82% and a negative net margin of 1.78%. The firm had revenue of $121.39 million during the quarter, compared to analyst estimates of $109.35 million.
Several institutional investors have recently bought and sold shares of OFIX. Marshall Wace North America L.P. purchased a new stake in shares of Orthofix Medical in the 1st quarter worth approximately $25,000. First Trust Advisors LP grew its stake in shares of Orthofix Medical by 85.7% in the 1st quarter. First Trust Advisors LP now owns 48,093 shares of the medical device company’s stock worth $2,713,000 after buying an additional 22,190 shares during the last quarter. Envestnet Asset Management Inc. purchased a new stake in Orthofix Medical during the 1st quarter valued at $354,000. Alliancebernstein L.P. boosted its stake in Orthofix Medical by 37.8% during the 1st quarter. Alliancebernstein L.P. now owns 106,794 shares of the medical device company’s stock valued at $4,630,000 after purchasing an additional 29,320 shares during the last quarter. Finally, Swiss National Bank boosted its stake in Orthofix Medical by 1.7% during the 1st quarter. Swiss National Bank now owns 42,000 shares of the medical device company’s stock valued at $1,821,000 after purchasing an additional 700 shares during the last quarter. Institutional investors own 95.68% of the company’s stock.
Shares of NASDAQ:OFIX traded down $0.50 during trading on Wednesday, hitting $36.50. The stock had a trading volume of 72,242 shares, compared to its average volume of 86,626. The company has a quick ratio of 2.17, a current ratio of 3.17 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $718.87 million, a PE ratio of -87.79 and a beta of 1.13. The firm’s fifty day moving average is $39.90 and its 200 day moving average is $40.89. Orthofix Medical has a 12 month low of $30.58 and a 12 month high of $48.50.
About Orthofix Medical
Orthofix Medical, Inc engages in the provision of medical devices. It operates through the following business segments: Global Spine and Global Extremities. The Global Spine reporting segment offers three primary product categories: Bone Growth Therapies, Spinal Implants, and Biologics. The Bone Growth Therapies product category manufactures, distributes, and provides support services of bone growth stimulator devices that enhance bone fusion.
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