Insider Selling: Orthofix Medical (NASDAQ:OFIX) Insider Sells 3,743 Shares of Stock

Orthofix Medical Inc. (NASDAQ:OFIX) insider Jorge Andres Cedron sold 3,743 shares of the business’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 approximately $756,456.92. This represents a 5.97% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Orthofix Medical Price Performance

Orthofix Medical stock traded down $0.06 during mid-day trading on Monday, reaching $12.65. The company had a trading volume of 165,224 shares, compared to its average volume of 261,607. Orthofix Medical Inc. has a 1 year low of $10.24 and a 1 year high of $16.99. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.45 and a quick ratio of 1.43. The company has a market capitalization of $507.77 million, a P/E ratio of -5.41 and a beta of 0.82. The stock’s 50-day simple moving average is $12.51 and its 200-day simple moving average is $14.09.

Orthofix Medical (NASDAQ:OFIX) last announced its quarterly earnings results on Saturday, February 14th. The medical device company reported ($0.06) 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%. On average, equities analysts predict that Orthofix Medical Inc. will post -1.57 EPS for the current year.

Institutional Investors Weigh In On Orthofix Medical

A number of large investors have recently bought and sold shares of OFIX. Rubric Capital Management LP raised its holdings in shares of Orthofix Medical by 0.7% in the second quarter. Rubric Capital Management LP now owns 3,721,715 shares of the medical device company’s stock worth $41,497,000 after acquiring an additional 26,769 shares during the last quarter. Juniper Investment Company LLC boosted its stake in shares of Orthofix Medical by 23.3% during the fourth quarter. Juniper Investment Company LLC now owns 3,510,333 shares of the medical device company’s stock valued at $53,217,000 after acquiring an additional 663,278 shares during the last quarter. Paradigm Capital Management Inc. NY boosted its stake in shares of Orthofix Medical by 34.6% during the second quarter. Paradigm Capital Management Inc. NY now owns 3,340,600 shares of the medical device company’s stock valued at $37,248,000 after acquiring an additional 858,900 shares during the last quarter. Armistice Capital LLC increased its position in 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 in the last quarter. Finally, Millennium Management LLC increased its position in Orthofix Medical by 86.6% during the 3rd quarter. Millennium Management LLC now owns 1,475,718 shares of the medical device company’s stock worth $21,605,000 after purchasing an additional 684,850 shares in the last quarter. Institutional investors and hedge funds own 89.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on OFIX shares. Stifel Nicolaus decreased 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. Wall Street Zen raised Orthofix Medical from a “hold” rating to a “buy” rating in a research note on Saturday, March 7th. TD Cowen began coverage on shares of Orthofix Medical in a research report on Tuesday, January 27th. They issued a “hold” rating and a $14.00 price objective on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Orthofix Medical in a research note on Thursday, January 22nd. Finally, Barrington Research restated an “outperform” rating and set a $17.00 target price on shares of Orthofix Medical in a report on Friday, April 10th. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target 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.