Orthofix Medical Inc. (NASDAQ:OFIX) to Post Q1 2024 Earnings of ($0.55) Per Share, Roth Capital Forecasts

Orthofix Medical Inc. (NASDAQ:OFIX) – Research analysts at Roth Capital increased their Q1 2024 EPS estimates for shares of Orthofix Medical in a research note issued on Monday, May 6th. Roth Capital analyst J. Wittes now anticipates that the medical device company will earn ($0.55) per share for the quarter, up from their previous estimate of ($0.57). Roth Capital currently has a “Buy” rating on the stock. 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.

Orthofix Medical (NASDAQ:OFIX) last issued its quarterly earnings data on Tuesday, March 5th. The medical device company reported ($0.59) EPS for the quarter, topping the consensus estimate 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 for the quarter.

Several other equities research analysts have also recently issued reports on OFIX. JMP Securities reaffirmed a “market perform” rating on shares of Orthofix Medical in a research report on Monday, April 22nd. Roth Mkm raised shares of Orthofix Medical from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $15.00 to $20.00 in a research report on Wednesday. Finally, StockNews.com raised shares of Orthofix Medical from a “sell” rating to a “hold” rating in a research report on Wednesday. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $18.00.

Orthofix Medical Price Performance

Orthofix Medical stock opened at $14.49 on Wednesday. The firm has a market cap of $542.07 million, a PE ratio of -3.50 and a beta of 1.06. Orthofix Medical has a 52-week low of $9.57 and a 52-week high of $21.60. The company has a quick ratio of 1.20, a current ratio of 2.54 and a debt-to-equity ratio of 0.19. The company’s 50 day moving average is $13.69 and its two-hundred day moving average is $13.04.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Swiss National Bank raised its stake in shares of Orthofix Medical by 1.3% in the third quarter. Swiss National Bank now owns 76,400 shares of the medical device company’s stock valued at $983,000 after purchasing an additional 1,000 shares in the last quarter. Gladius Capital Management LP raised its stake in shares of Orthofix Medical by 55.2% in the fourth 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. Gamco Investors INC. ET AL raised its stake in shares of Orthofix Medical by 1.4% in the third quarter. Gamco Investors INC. ET AL now owns 91,400 shares of the medical device company’s stock valued at $1,175,000 after purchasing an additional 1,300 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Orthofix Medical by 30.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,516 shares of the medical device company’s stock valued at $101,000 after purchasing an additional 1,752 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System grew its position in Orthofix Medical by 34.7% in the first quarter. State Board of Administration of Florida Retirement System now owns 13,562 shares of the medical device company’s stock valued at $197,000 after acquiring an additional 3,490 shares during the period. 89.76% of the stock is currently 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.