Orthofix Medical Inc (OFIX) Insider Sells $427,350.00 in Stock

Orthofix Medical Inc (NASDAQ:OFIX) insider Kimberley A. Elting sold 7,000 shares of the stock in a transaction that occurred on Friday, November 2nd. The shares were sold at an average price of $61.05, for a total transaction of $427,350.00. Following the completion of the sale, the insider now directly owns 22,740 shares of the company’s stock, valued at approximately $1,388,277. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Shares of OFIX stock traded up $0.29 during mid-day trading on Tuesday, reaching $60.99. 123,118 shares of the company were exchanged, compared to its average volume of 148,507. Orthofix Medical Inc has a fifty-two week low of $50.39 and a fifty-two week high of $63.57. The company has a market capitalization of $1.16 billion, a P/E ratio of 37.65, a PEG ratio of 3.62 and a beta of 0.30.

Orthofix Medical (NASDAQ:OFIX) last released its quarterly earnings results on Monday, October 29th. The medical device company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.09. Orthofix Medical had a net margin of 1.45% and a return on equity of 10.97%. The business had revenue of $111.70 million during the quarter, compared to the consensus estimate of $110.65 million. During the same quarter last year, the company earned $0.42 earnings per share. The business’s quarterly revenue was up 6.2% compared to the same quarter last year. On average, research analysts forecast that Orthofix Medical Inc will post 1.75 EPS for the current fiscal year.

A number of analysts have recently weighed in on the stock. BidaskClub downgraded shares of Orthofix Medical from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 17th. Cantor Fitzgerald raised their price target on shares of Orthofix Medical to $66.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 7th. Zacks Investment Research raised shares of Orthofix Medical from a “hold” rating to a “strong-buy” rating and set a $70.00 price target for the company in a research report on Thursday, November 1st. Finally, TheStreet raised shares of Orthofix Medical from a “c+” rating to a “b-” rating in a research report on Monday, September 10th. Four equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $67.67.

Hedge funds have recently added to or reduced their stakes in the company. First Quadrant L P CA acquired a new stake in shares of Orthofix Medical during the third quarter worth approximately $122,000. Itau Unibanco Holding S.A. acquired a new position in Orthofix Medical in the second quarter worth $224,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in Orthofix Medical in the second quarter worth $227,000. Suntrust Banks Inc. acquired a new position in Orthofix Medical in the first quarter worth $256,000. Finally, Hartford Investment Management Co. acquired a new position in Orthofix Medical in the second quarter worth $269,000. 92.64% of the stock is owned by institutional investors and hedge funds.

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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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Insider Buying and Selling by Quarter for Orthofix Medical (NASDAQ:OFIX)

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