Q1 2024 EPS Estimates for Orthofix Medical Inc. (NASDAQ:OFIX) Boosted by Roth Capital

Orthofix Medical Inc. (NASDAQ:OFIX) – Stock analysts at Roth Capital increased their Q1 2024 earnings estimates for Orthofix Medical in a research report issued 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 forecast 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.

A number of other analysts have also issued reports on OFIX. JMP Securities reiterated a “market perform” rating on shares of Orthofix Medical in a research note on Monday, April 22nd. Roth Mkm upped their target price on shares of Orthofix Medical from $12.00 to $15.00 and gave the stock a “neutral” rating in a research note on Thursday, March 7th. Finally, StockNews.com cut shares of Orthofix Medical from a “hold” rating to a “sell” rating in a research report on Wednesday, March 6th. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, Orthofix Medical has a consensus rating of “Hold” and a consensus price target of $15.50.

Orthofix Medical Price Performance

OFIX stock opened at $13.89 on Wednesday. The business’s fifty day moving average price is $13.63 and its 200 day moving average price is $13.02. Orthofix Medical has a 12-month low of $9.57 and a 12-month high of $21.60. The company has a market capitalization of $519.62 million, a PE ratio of -3.36 and a beta of 1.06. The company has a current ratio of 2.54, a quick ratio of 1.20 and a debt-to-equity ratio of 0.19.

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

Hedge Funds Weigh In On Orthofix Medical

A number of institutional investors and hedge funds have recently made changes to their positions in OFIX. GSA Capital Partners LLP acquired a new stake in Orthofix Medical in the first quarter valued at approximately $921,000. Mutual of America Capital Management LLC increased its position in shares of Orthofix Medical by 15.3% in the 1st quarter. Mutual of America Capital Management LLC now owns 175,671 shares of the medical device company’s stock valued at $2,551,000 after purchasing an additional 23,324 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Orthofix Medical by 190.5% in the 1st quarter. BNP Paribas Financial Markets now owns 34,602 shares of the medical device company’s stock valued at $502,000 after purchasing an additional 22,690 shares in the last quarter. Glenview Capital Management LLC purchased a new stake in shares of Orthofix Medical during the 4th quarter worth $6,740,000. Finally, Boone Capital Management LLC acquired a new position in shares of Orthofix Medical during the fourth quarter worth $6,740,000. 89.76% of the stock is owned by institutional investors and hedge funds.

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.