On March 7, 2024, analyst Jason Wittes from Roth MKM reaffirmed a Neutral rating for Orthofix Medical (NASDAQ:OFIX) and increased the price target to $15. The average price target for Orthofix is $18.00 according to short-term forecasts from three analysts, with estimates ranging from $12.00 to $28.00.
Orthofix Medical Inc. (OFIX) Sees Modest Increase in Stock Price on March 7, 2024
On March 7, 2024, Orthofix Medical Inc. (OFIX) saw a modest increase in its stock price. According to data from CNN Money, OFIX shares increased by $0.01 since the market last closed, representing a 0.07% rise. The stock opened at $14.24 on March 7, which was $0.11 higher than its previous close. This slight uptick in price momentum may indicate some positive sentiment among investors towards Orthofix Medical Inc. However, it is important to note that the stock is still trading below its 200-day simple moving average. Despite the small increase in price on March 7, OFIX is still trading in the middle of its 52-week range. Investors may want to keep an eye on any upcoming developments or news related to Orthofix Medical Inc. Overall, while OFIX saw a slight uptick in its stock price on March 7, it is important for investors to consider the broader market context and any potential catalysts that could influence the stock’s performance in the coming days and weeks.
OFIX Stock Sees Mixed Performances in Financials on March 7, 2024: Revenue Up, Net Income Down
On March 7, 2024, OFIX stock saw mixed performances in terms of its financials. According to data from CNN Money, the company reported a total revenue of $746.64 million for the past year, with a significant increase of 62.06% compared to the previous year. However, the total revenue remained flat at $200.41 million for the last quarter.
In terms of net income, OFIX reported a loss of $151.40 million for the past year, representing a decrease of 666.6% compared to the previous year. On a positive note, the net income improved by 23.16% to -$22.17 million for the last quarter.
Earnings per share (EPS) also saw a decline for OFIX stock. The company reported an EPS of -$4.12 for the past year, which is a decrease of 318.55% compared to the previous year. However, the EPS remained unchanged at -$0.59 for the last quarter.
Overall, the mixed performances in the financials of OFIX stock on March 7, 2024, indicate that the company is facing challenges in terms of profitability. Investors may want to closely monitor the company’s financials and performance in the upcoming quarters to assess its long-term growth potential.
