Orthofix Medical (OFIX) Releases Earnings Results, Beats Estimates By $0.09 EPS

Orthofix Medical (NASDAQ:OFIX) posted its earnings results on Monday. The medical device company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.09, MarketWatch Earnings reports. The firm had revenue of $111.70 million during the quarter, compared to the consensus estimate of $110.65 million. Orthofix Medical had a return on equity of 11.09% and a net margin of 1.45%. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.42 EPS. Orthofix Medical updated its FY 2018 guidance to $1.70-1.75 EPS and its FY18 guidance to $1.70-1.75 EPS.

OFIX traded up $0.18 during trading on Wednesday, reaching $60.82. The company had a trading volume of 176,423 shares, compared to its average volume of 147,628. The company has a market cap of $1.06 billion, a PE ratio of 37.54, a P/E/G ratio of 3.47 and a beta of 0.36. Orthofix Medical has a 52 week low of $50.27 and a 52 week high of $63.57.

A number of analysts recently issued reports on OFIX shares. TheStreet upgraded Orthofix Medical from a “c+” rating to a “b-” rating in a research report on Monday, September 10th. Zacks Investment Research downgraded Orthofix Medical from a “hold” rating to a “sell” rating in a research report on Thursday, August 9th. BidaskClub downgraded Orthofix Medical from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 31st. Finally, Cantor Fitzgerald raised their price target on Orthofix Medical to $66.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 7th. One equities research analyst has rated the stock with a sell rating, four have issued a buy rating and one has given a strong buy rating to the stock. Orthofix Medical has a consensus rating of “Buy” and a consensus price target of $64.33.

In related news, CEO Brad Mason sold 2,500 shares of the firm’s stock in a transaction on Wednesday, September 5th. The stock was sold at an average price of $53.02, for a total value of $132,550.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Rice Doug sold 3,949 shares of the firm’s stock in a transaction on Thursday, October 11th. The stock was sold at an average price of $55.65, for a total value of $219,761.85. Following the completion of the sale, the chief financial officer now owns 32,368 shares of the company’s stock, valued at $1,801,279.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 8,949 shares of company stock valued at $485,487. 5.60% of the stock is owned by corporate insiders.

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 for Orthofix Medical (NASDAQ:OFIX)

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