Analysts predict that Orthofix Medical Inc (NASDAQ:OFIX) will announce $122.45 million in sales for the current quarter, Zacks reports. Two analysts have provided estimates for Orthofix Medical’s earnings. The highest sales estimate is $123.00 million and the lowest is $121.90 million. Orthofix Medical posted sales of $116.90 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 4.7%. The business is scheduled to announce its next quarterly earnings report on Monday, February 25th.

According to Zacks, analysts expect that Orthofix Medical will report full-year sales of $453.70 million for the current fiscal year, with estimates ranging from $453.50 million to $453.90 million. For the next fiscal year, analysts forecast that the firm will post sales of $479.85 million, with estimates ranging from $478.90 million to $480.80 million. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Orthofix Medical.

Orthofix Medical (NASDAQ:OFIX) last released its quarterly earnings data on Monday, October 29th. The medical device company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $110.65 million. During the same quarter in the previous year, the business earned $0.42 EPS. Orthofix Medical’s quarterly revenue was up 6.2% compared to the same quarter last year.

A number of research analysts have weighed in on the stock. Zacks Investment Research raised shares of Orthofix Medical from a “hold” rating to a “strong-buy” rating and set a $70.00 target price for the company in a research report on Thursday, November 1st. BidaskClub raised shares of Orthofix Medical from a “buy” rating to a “strong-buy” rating in a research report on Thursday, September 27th. Cantor Fitzgerald boosted their target price on shares of Orthofix Medical to $66.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 7th. Finally, TheStreet raised shares of Orthofix Medical from a “c+” rating to a “b-” rating in a research report on Monday, September 10th. Four investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $67.67.

Shares of OFIX stock traded up $1.12 on Monday, hitting $60.25. The company’s stock had a trading volume of 140,161 shares, compared to its average volume of 127,055. Orthofix Medical has a fifty-two week low of $50.41 and a fifty-two week high of $63.57. The firm has a market cap of $1.12 billion, a PE ratio of 37.19, a PEG ratio of 3.48 and a beta of 0.30.

In other news, CEO Brad Mason sold 2,500 shares of the company’s stock in a transaction dated Wednesday, September 5th. The shares were sold at an average price of $53.02, for a total transaction of $132,550.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Luke T. Faulstick sold 8,450 shares of the company’s stock in a transaction dated Friday, November 2nd. The shares were sold at an average price of $61.05, for a total transaction of $515,872.50. Following the transaction, the director now directly owns 7,129 shares of the company’s stock, valued at approximately $435,225.45. The disclosure for this sale can be found here. Insiders have sold 28,343 shares of company stock valued at $1,690,376 in the last ninety days. 5.60% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC raised its position in shares of Orthofix Medical by 151.9% during the second quarter. SG Americas Securities LLC now owns 6,455 shares of the medical device company’s stock valued at $367,000 after buying an additional 3,892 shares during the last quarter. Bank of Montreal Can increased its stake in Orthofix Medical by 32.2% in the third quarter. Bank of Montreal Can now owns 45,020 shares of the medical device company’s stock valued at $2,603,000 after acquiring an additional 10,956 shares during the period. Renaissance Technologies LLC increased its stake in Orthofix Medical by 3.2% in the second quarter. Renaissance Technologies LLC now owns 677,500 shares of the medical device company’s stock valued at $38,496,000 after acquiring an additional 21,021 shares during the period. First Quadrant L P CA bought a new stake in Orthofix Medical in the third quarter valued at about $122,000. Finally, Federated Investors Inc. PA increased its stake in Orthofix Medical by 4.4% in the second quarter. Federated Investors Inc. PA now owns 120,142 shares of the medical device company’s stock valued at $6,826,000 after acquiring an additional 5,039 shares during the period. 93.48% 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 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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Earnings History and Estimates for Orthofix Medical (NASDAQ:OFIX)

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