Equities research analysts expect Orthofix Medical Inc (NASDAQ:OFIX) to post $110.20 million in sales for the current quarter, Zacks reports. Two analysts have provided estimates for Orthofix Medical’s earnings. The highest sales estimate is $110.30 million and the lowest is $110.10 million. Orthofix Medical posted sales of $105.25 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 4.7%. The company is expected to report its next quarterly earnings results on Monday, October 29th.
According to Zacks, analysts expect that Orthofix Medical will report full-year sales of $453.50 million for the current financial year. For the next financial year, analysts anticipate that the company will post sales of $478.30 million, with estimates ranging from $477.70 million to $478.90 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Orthofix Medical.
Orthofix Medical (NASDAQ:OFIX) last issued its quarterly earnings data on Monday, August 6th. The medical device company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.06. Orthofix Medical had a return on equity of 10.74% and a net margin of 2.53%. The business had revenue of $111.50 million for the quarter, compared to the consensus estimate of $114.62 million. During the same period in the prior year, the business posted $0.42 earnings per share. The company’s quarterly revenue was up 2.4% compared to the same quarter last year.
A number of equities research analysts have issued reports on the company. TheStreet downgraded Orthofix Medical from a “b” rating to a “c+” rating in a research report on Wednesday, August 1st. BidaskClub downgraded Orthofix Medical from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 31st. Zacks Investment Research upgraded Orthofix Medical from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 4th. Finally, Cantor Fitzgerald upped their price objective on Orthofix Medical to $66.00 and gave the company an “overweight” rating in a research report on Tuesday, August 7th. One equities research analyst has rated the stock with a sell rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $62.25.
OFIX stock traded down $0.98 during midday trading on Wednesday, reaching $53.99. 109,315 shares of the company traded hands, compared to its average volume of 144,325. Orthofix Medical has a 52-week low of $47.51 and a 52-week high of $61.98. The company has a market cap of $1.08 billion, a PE ratio of 33.33, a price-to-earnings-growth ratio of 3.54 and a beta of 0.36.
In other news, CEO Brad Mason sold 2,500 shares of the stock in a transaction that occurred on Wednesday, September 5th. The stock was sold at an average price of $53.02, for a total value of $132,550.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 5.60% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. SG Americas Securities LLC purchased a new position in Orthofix Medical during the 1st quarter worth $151,000. Quantbot Technologies LP purchased a new position in Orthofix Medical during the 1st quarter worth $161,000. Itau Unibanco Holding S.A. purchased a new position in Orthofix Medical during the 2nd quarter worth $224,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in Orthofix Medical during the 2nd quarter worth $227,000. Finally, Suntrust Banks Inc. purchased a new position in Orthofix Medical during the 1st quarter worth $256,000. Hedge funds and other institutional investors own 93.44% of the company’s stock.
Orthofix Medical Company Profile
Orthofix Medical Inc, a medical device company, provides musculoskeletal healing products and value-added services worldwide. It operates through four segments: BioStim, Extremity Fixation, Spine Fixation, and Biologics. The BioStim segment manufactures, distributes, and provides support services for bone growth stimulator devices that enhance bone fusion and are indicated as treatment to enhance fusion success rates in cervical and lumbar spine, as well as a therapeutic treatment for non-spine fractures.
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