Orthofix Medical (NASDAQ:OFIX) Insider Jorge Andres Cedron Sells 3,743 Shares

Orthofix Medical Inc. (NASDAQ:OFIX) insider Jorge Andres Cedron sold 3,743 shares of the firm’s stock in a transaction dated Thursday, April 16th. The stock was sold at an average price of $12.82, for a total transaction of $47,985.26. Following the sale, the insider directly owned 59,006 shares in the company, valued at $756,456.92. This represents a 5.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Orthofix Medical Trading Down 0.5%

Shares of NASDAQ:OFIX traded down $0.06 during trading on Monday, reaching $12.65. The stock had a trading volume of 165,224 shares, compared to its average volume of 261,607. The company has a quick ratio of 1.43, a current ratio of 2.45 and a debt-to-equity ratio of 0.39. The stock has a market cap of $507.77 million, a P/E ratio of -5.41 and a beta of 0.82. The business has a fifty day moving average price of $12.51 and a 200-day moving average price of $14.09. Orthofix Medical Inc. has a fifty-two week low of $10.24 and a fifty-two week high of $16.99.

Orthofix Medical (NASDAQ:OFIX) last announced its earnings results on Saturday, February 14th. The medical device company reported ($0.06) earnings per share (EPS) for the quarter. The firm had revenue of $219.91 million for the quarter. Orthofix Medical had a negative return on equity of 20.38% and a negative net margin of 11.21%. As a group, analysts anticipate that Orthofix Medical Inc. will post -1.57 earnings per share for the current fiscal year.

Institutional Trading of Orthofix Medical

Several institutional investors have recently made changes to their positions in the stock. Paradigm Capital Management Inc. NY increased its holdings in shares of Orthofix Medical by 34.6% during the 2nd quarter. Paradigm Capital Management Inc. NY now owns 3,340,600 shares of the medical device company’s stock worth $37,248,000 after buying an additional 858,900 shares during the last quarter. Millennium Management LLC increased its stake in Orthofix Medical by 86.6% during the third quarter. Millennium Management LLC now owns 1,475,718 shares of the medical device company’s stock worth $21,605,000 after acquiring an additional 684,850 shares during the last quarter. Juniper Investment Company LLC raised its holdings in shares of Orthofix Medical by 23.3% in the 4th quarter. Juniper Investment Company LLC now owns 3,510,333 shares of the medical device company’s stock worth $53,217,000 after purchasing an additional 663,278 shares during the period. Bank of America Corp DE lifted its stake in shares of Orthofix Medical by 659.5% in the 2nd quarter. Bank of America Corp DE now owns 687,410 shares of the medical device company’s stock valued at $7,665,000 after purchasing an additional 596,907 shares in the last quarter. Finally, Armistice Capital LLC grew its holdings in shares of Orthofix Medical by 18.4% during the 4th quarter. Armistice Capital LLC now owns 2,648,000 shares of the medical device company’s stock worth $40,144,000 after purchasing an additional 412,000 shares during the period. 89.76% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on OFIX. Wall Street Zen raised Orthofix Medical from a “hold” rating to a “buy” rating in a research report on Saturday, March 7th. Stifel Nicolaus reduced their target price on Orthofix Medical from $22.00 to $18.00 and set a “buy” rating on the stock in a research report on Monday, March 9th. TD Cowen initiated coverage on Orthofix Medical in a research note on Tuesday, January 27th. They issued a “hold” rating and a $14.00 price target on the stock. Canaccord Genuity Group lowered their price target on Orthofix Medical from $24.00 to $20.00 and set a “buy” rating for the company in a report on Thursday, February 26th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $17.00 price objective on shares of Orthofix Medical in a research note on Friday, April 10th. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $17.25.

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.