Jefferies Financial Group Weighs in on Orthofix Medical Inc’s Q3 2019 Earnings (NASDAQ:OFIX)

Orthofix Medical Inc (NASDAQ:OFIX) – Research analysts at Jefferies Financial Group raised their Q3 2019 EPS estimates for Orthofix Medical in a note issued to investors on Tuesday, August 6th. Jefferies Financial Group analyst R. Denhoy now forecasts that the medical device company will post earnings of $0.52 per share for the quarter, up from their prior forecast of $0.42. Jefferies Financial Group also issued estimates for Orthofix Medical’s Q4 2019 earnings at $0.70 EPS, FY2019 earnings at $1.78 EPS and FY2020 earnings at $2.22 EPS.

Orthofix Medical (NASDAQ:OFIX) last announced its earnings results on Monday, August 5th. The medical device company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.12). The business had revenue of $115.85 million for the quarter, compared to analyst estimates of $115.17 million. Orthofix Medical had a return on equity of 9.50% and a net margin of 1.75%. The business’s revenue was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.42 EPS.

Other equities analysts have also recently issued research reports about the stock. ValuEngine cut shares of Orthofix Medical from a “buy” rating to a “hold” rating in a research report on Saturday, May 18th. Zacks Investment Research cut shares of Orthofix Medical from a “buy” rating to a “hold” rating in a research report on Friday. BidaskClub upgraded shares of Orthofix Medical from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, TheStreet lowered shares of Orthofix Medical from a “b+” rating to a “c+” rating in a research report on Thursday, May 9th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Orthofix Medical has an average rating of “Hold” and an average target price of $59.50.

Shares of OFIX opened at $54.25 on Thursday. The company has a current ratio of 3.42, a quick ratio of 2.28 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $1.01 billion, a PE ratio of 27.68, a P/E/G ratio of 2.98 and a beta of 0.42. The business’s 50-day simple moving average is $51.72. Orthofix Medical has a 12-month low of $47.79 and a 12-month high of $74.44.

In other news, CEO Brad Mason sold 8,890 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $51.11, for a total value of $454,367.90. Following the completion of the transaction, the chief executive officer now owns 159,053 shares of the company’s stock, valued at $8,129,198.83. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 5.80% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Legal & General Group Plc raised its position in shares of Orthofix Medical by 0.4% in the fourth quarter. Legal & General Group Plc now owns 44,270 shares of the medical device company’s stock valued at $2,325,000 after buying an additional 180 shares during the last quarter. Strs Ohio grew its holdings in Orthofix Medical by 1.4% in the second quarter. Strs Ohio now owns 14,600 shares of the medical device company’s stock valued at $772,000 after purchasing an additional 200 shares during the period. Piedmont Investment Advisors Inc. grew its holdings in Orthofix Medical by 5.3% in the first quarter. Piedmont Investment Advisors Inc. now owns 4,717 shares of the medical device company’s stock valued at $266,000 after purchasing an additional 239 shares during the period. Mason Street Advisors LLC grew its holdings in Orthofix Medical by 4.2% in the first quarter. Mason Street Advisors LLC now owns 6,122 shares of the medical device company’s stock valued at $345,000 after purchasing an additional 246 shares during the period. Finally, Arizona State Retirement System grew its holdings in Orthofix Medical by 0.9% in the first quarter. Arizona State Retirement System now owns 29,404 shares of the medical device company’s stock valued at $1,659,000 after purchasing an additional 266 shares during the period. 94.30% of the stock is owned by institutional investors and hedge funds.

About Orthofix Medical

Orthofix Medical Inc, a medical device company, provides musculoskeletal healing products and therapies worldwide. It operates through four segments: Bone Growth Therapies, Spinal Implants, Biologics, and Orthofix Extremities. The Bone Growth Therapies 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-spinal appendicular fractures.

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Earnings History and Estimates for Orthofix Medical (NASDAQ:OFIX)

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