Orthofix Medical Inc. Forecasted to Post Q1 2024 Earnings of ($0.55) Per Share (NASDAQ:OFIX)

Orthofix Medical Inc. (NASDAQ:OFIX) – Equities researchers at Roth Capital boosted their Q1 2024 EPS estimates for shares of Orthofix Medical in a report released on Monday, May 6th. Roth Capital analyst J. Wittes now forecasts that the medical device company will post earnings per share of ($0.55) for the quarter, up from their previous estimate of ($0.57). The consensus estimate for Orthofix Medical’s current full-year earnings is ($1.51) per share. Roth Capital also issued estimates for Orthofix Medical’s Q2 2024 earnings at ($0.28) EPS, Q3 2024 earnings at ($0.23) EPS, Q4 2024 earnings at ($0.01) EPS, FY2024 earnings at ($1.06) EPS, FY2025 earnings at ($0.17) EPS and FY2026 earnings at $0.20 EPS.

Several other research analysts have also recently commented on the stock. StockNews.com upgraded shares of Orthofix Medical from a “sell” rating to a “hold” rating in a report on Wednesday. JMP Securities restated a “market perform” rating on shares of Orthofix Medical in a research note on Monday, April 22nd. Finally, Roth Mkm raised Orthofix Medical from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $15.00 to $20.00 in a research report on Wednesday. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $18.00.

Orthofix Medical Stock Performance

Shares of Orthofix Medical stock opened at $14.90 on Wednesday. The business has a 50-day simple moving average of $13.66 and a 200-day simple moving average of $13.03. The company has a market cap of $557.41 million, a PE ratio of -3.60 and a beta of 1.06. Orthofix Medical has a one year low of $9.57 and a one year high of $21.60. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.20 and a current ratio of 2.54.

Orthofix Medical (NASDAQ:OFIX) last released its earnings results on Tuesday, March 5th. The medical device company reported ($0.59) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.60) by $0.01. Orthofix Medical had a negative return on equity of 10.63% and a negative net margin of 20.28%. The firm had revenue of $200.42 million during the quarter.

Institutional Investors Weigh In On Orthofix Medical

Several hedge funds have recently modified their holdings of the stock. Gladius Capital Management LP grew its holdings in Orthofix Medical by 55.2% during the 4th quarter. Gladius Capital Management LP now owns 2,841 shares of the medical device company’s stock valued at $38,000 after purchasing an additional 1,010 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Orthofix Medical by 30.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,516 shares of the medical device company’s stock worth $101,000 after acquiring an additional 1,752 shares during the last quarter. State Board of Administration of Florida Retirement System acquired a new position in shares of Orthofix Medical in the third quarter worth about $130,000. Teza Capital Management LLC purchased a new position in Orthofix Medical in the third quarter valued at about $133,000. Finally, Arizona State Retirement System purchased a new stake in Orthofix Medical during the 4th quarter worth approximately $138,000. 89.76% of the stock is currently owned by hedge funds and other institutional investors.

About Orthofix Medical

Orthofix Medical Inc operates as a spine and orthopedics company in the United States, Italy, Germany, the United Kingdom, France, Brazil, and internationally. It operates through two segments, Global Spine and Global Orthopedics. The Global Spine segment manufactures and distributes bone growth stimulator devices for enhance of bone fusion, including adjunctive and noninvasive treatment of cervical and lumbar spine, as well as a therapeutic treatment for non-spine; designs, develops, and markets a portfolio of motion preservation and fixation implant products, which are used in surgical procedures of the spine; and offers biological products, such as fiber-based and particulate demineralized bone matrices, cellular bone allografts, collagen ceramic matrices, and synthetic bone void fillers, and tissue forms, which allow physicians to treat various spinal and orthopedic conditions.