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

Share on StockTwits

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

Orthofix Medical stock traded up $0.79 during trading hours on Wednesday, hitting $61.43. The stock had a trading volume of 1,000 shares, compared to its average volume of 145,146. The stock has a market cap of $1.06 billion, a price-to-earnings ratio of 37.91, a price-to-earnings-growth ratio of 3.47 and a beta of 0.36. Orthofix Medical has a fifty-two week low of $50.27 and a fifty-two week high of $63.57.

In other Orthofix Medical news, CFO Rice Doug sold 3,949 shares of the company’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 32,368 shares of the company’s stock, valued at approximately $1,801,279.20. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Brad Mason sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, September 5th. The shares were sold at an average price of $53.02, for a total value of $132,550.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 8,949 shares of company stock valued at $485,487. Insiders own 5.60% of the company’s stock.

Several research firms recently weighed in on OFIX. TheStreet cut Orthofix Medical from a “b” rating to a “c+” rating in a research report on Wednesday, August 1st. BidaskClub cut Orthofix Medical from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, September 12th. Zacks Investment Research cut Orthofix Medical from a “hold” rating to a “sell” rating in a research report on Thursday, August 9th. Finally, Cantor Fitzgerald boosted their price objective on Orthofix Medical to $66.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 7th. One investment analyst has rated the stock with a sell rating, four have given a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $64.33.

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.

See Also: Inflation

Earnings History for Orthofix Medical (NASDAQ:OFIX)

Receive News & Ratings for Orthofix Medical Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Orthofix Medical and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply