Orthofix Medical Inc. (NASDAQ:OFIX) experienced a surge in trading volume on Friday following news of an insider purchasing additional shares in the company. With approximately 341,957 shares changing hands during mid-day trading, representing a 2% increase compared to the previous session, investor interest has been notably strong.
Director James F. Hinrichs was responsible for acquiring 7,500 shares of Orthofix Medical stock in a transaction that took place on Thursday, September 14th. The average price per share was $13.47, resulting in a total transaction value of $101,025.00. Following this purchase, Director Hinrichs now possesses 86,153 shares of the company’s stock with an estimated value of $1,160,480.91. This transaction was disclosed through a document filed with the SEC which can be accessed via this link. As it stands currently, corporate insiders own approximately 4.70% of Orthofix Medical’s stock.
Several research analysts have expressed their opinions on OFIX shares recently as well. BTIG Research downgraded their rating from “buy” to “neutral” in a report published earlier this week. StockNews.com also covered the company and issued a “hold” rating on its stock last month while Stifel Nicolaus decreased their price target and downgraded Orthofix Medical from “buy” to “hold”.
Orthofix Medical Inc is an established spine and orthopedics company which operates domestically within the United States as well as internationally across various countries such as Italy, Germany, France, the United Kingdom, and Brazil. It is categorized into two main segments: Global Spine and Global Orthopedics.
Within the Global Spine segment, Orthofix manufactures and distributes bone growth therapies products including bone fusion stimulator devices used for cervical and lumbar spine treatments as well as non-spinal therapeutic interventions for other conditions. The Global Spine segment also encompasses spinal implants designed for motion preservation and fixation procedures in the spine, as well as biologic products used for regenerative treatments and tissue forms to address a wide range of spinal and orthopedic conditions.
As for the company’s financials, Orthofix Medical currently maintains a 50-day moving average of $19.23 and a two-hundred day moving average of $18.68. Its debt-to-equity ratio stands at 0.11, while its current ratio is 2.82 and quick ratio is 1.25. With a market capitalization of $502.60 million, the company carries a PE ratio of -3.70 and a beta of 0.85.
This recent insider purchase and subsequent increase in trading volume suggests growing investor interest in Orthofix Medical Inc., prompting both potential investors and industry analysts to keep an eye on this spine and orthopedics company as it continues to make significant strides in the market.
Orthofix Medical Inc.
OFIX
Buy
Updated on: 18/09/2023
Healthy 
Price to earnings ratio: Strong Sell 
Orthofix Medical Inc. Delivers Strong Financial Results and Attracts Investor Interest
Orthofix Medical Inc, a leading spine and orthopedics company, operates globally in several countries including the United States, Italy, Germany, France, the United Kingdom, Brazil. The company is divided into two segments: Global Spine and Global Orthopedics.
The Global Spine segment focuses on manufacturing and distributing bone growth stimulator devices for enhancing bone fusion in the cervical and lumbar spine. These devices are also used as adjunctive and noninvasive treatments for various spinal conditions. Additionally, the segment offers a portfolio of motion preservation and fixation implant products designed for surgical procedures of the spine. Moreover, Orthofix Medical provides biological products such as regenerative products and tissue forms that allow physicians to effectively treat a range of spinal and orthopedic conditions.
In its latest financial report released on August 8th, Orthofix Medical revealed positive results. The company reported earnings per share (EPS) of $0.02 for the quarter, surpassing the consensus estimate of ($0.67) by $0.69. The firm’s revenue amounted to $187.02 million, which exceeded the estimated revenue of $183.80 million.
Despite these positive financial results, Orthofix Medical faced challenges in terms of negative return on equity (-1.90%) and negative net margin (19.74%). Nonetheless, sell-side analysts predict that the company will achieve -0.66 earnings per share for this fiscal year.
Orthofix Medical has garnered attention from large investors who have either increased or decreased their stakes in the company recently. BlackRock Inc., for instance, raised its position by 55.5% during the first quarter and now owns over 6 million shares valued at approximately $100 million. First Light Asset Management LLC also purchased a stake in Orthofix Medical during the same period valued at around $44 million.
Furthermore, Rubric Capital Management LP increased its position by 17.1% in the second quarter and now holds 2,392,412 shares worth $43 million. Vanguard Group Inc., which boosted its stake by 0.7% in the first quarter, now owns over 2.1 million shares valued at $70 million. Armistice Capital LLC witnessed significant growth, with its position in Orthofix Medical rising by 129.5% during the first quarter. The firm now owns 1,836,000 shares worth approximately $30 million.
Overall, Orthofix Medical continues to be an attractive prospect for investors, attracting attention from well-established institutional investors who own a significant percentage (89.76%) of the company’s stock. With its operations spanning across multiple countries and a diverse range of offerings that cater to spinal and orthopedic conditions, Orthofix Medical is poised for further growth in the coming years.
Note: This article contains fictional content based on the given text prompt and does not reflect current or accurate information about Orthofix Medical Inc as of September 17, 2023.
Reference date: September 17th, 2023
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