A Review of Orthofix Medical Inc (NASDAQ: OFIX)’s Performance and Growth Prospects

In the last trading session, 3.08 million Orthofix Medical Inc (NASDAQ:OFIX) shares changed hands as the company’s beta touched 1.01. With the company’s per share price at $10.82 changed hands at $0.33 or 3.15% during last session, the market valuation stood at $397.74M. OFIX’s last price was a discount, traded about -114.33% off its 52-week high of $23.19. The share price had its 52-week low at $9.57, which suggests the last value was 11.55% up since then. When we look at Orthofix Medical Inc’s average trading volume, we note the 10-day average is 0.6 million shares, with the 3-month average coming to 680.30K.

Analysts gave the Orthofix Medical Inc (OFIX) stock a consensus recommendation rating of a Hold, calculated at a mean rating of 2.60. If we narrow down to specifics, the data shows that 0 out of 5 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 4 recommended OFIX as a Hold, 1 felt it is a Buy and 0 rated the stock as Underweight. Orthofix Medical Inc’s EPS for the current quarter is expected to be $Comfort Systems USA, Inc..

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Orthofix Medical Inc (NASDAQ:OFIX) trade information

Instantly OFIX was in green as seen at the end of in last trading. With action 11.66%, the performance over the past five days has been green. The jump to weekly highs of 10.89 on Monday, 11/20/23 added 3.15% to the stock’s daily price. The company’s shares are showing year-to-date downside of -47.30%, with the 5-day performance at 11.66% in the green. However, in the 30-day time frame, Orthofix Medical Inc (NASDAQ:OFIX) is -1.55% down. Looking at the short shares, we see there were 2.98 million shares sold at short interest cover period of 3.5 days.

The consensus price target for the stock as assigned by Wall Street analysts is $18.00, meaning bulls need an upside of 39.89% from its current market value. According to analyst projections, OFIX’s forecast low is $12.00 with $28.00 as the target high. To hit the forecast high, the stock’s price needs a -158.78% plunge from its current level, while the stock would need to soar -10.91% for it to hit the projected low.

Orthofix Medical Inc (OFIX) estimates and forecasts

Data shows that the Orthofix Medical Inc share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -46.73% over the past 6 months, a -303.33% in annual growth rate that is considerably lower than the industry average of 10.50%.

The 2023 estimates are for Orthofix Medical Inc earnings to decrease by -232.22%, but the outlook for the next 5-year period is at 9.40% per year.

OFIX Dividends

Orthofix Medical Inc is expected to release its next quarterly earnings report on November 08.

Orthofix Medical Inc (NASDAQ:OFIX)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 2.37% of Orthofix Medical Inc shares while 90.47% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 92.67%. There are 90.47% institutions holding the Orthofix Medical Inc stock share, with Blackrock Inc. the top institutional holder. As of Jun 29, 2023, the company held 16.22% of the shares, roughly 5.96 million OFIX shares worth $107.6 million.

First Light Asset Management, LLC holds the second largest percentage of outstanding shares, with 6.69% or 2.46 million shares worth $44.41 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of Sep 29, 2023 were iShares Core S&P Smallcap ETF and Vanguard Total Stock Market Index Fund. With 2.48 million shares estimated at $31.92 million under it, the former controlled 6.76% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 2.79% of the shares, roughly 1.02 million shares worth around $18.48 million.

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