China smartphone shipments slumped in June on inventory overhang: Jefferies
Geoffrey C. Gillespie, the Chief Accounting Officer (CAO) of Orthofix (NASDAQ:OFIX) Medical (TASE:PMCN) Inc. (NASDAQ:OFIX), recently sold a small portion of the company's common stock. According to a filing with the Securities and Exchange Commission, Gillespie sold 26 shares at a price of $17.84 per share, totaling approximately $463. The stock currently trades at $17.19, with InvestingPro analysis suggesting the company is slightly undervalued. The stock has shown strong momentum, gaining over 36% in the past six months. This transaction was carried out to satisfy tax withholding obligations related to the settlement of restricted stock units. Following the sale, Gillespie holds 41,041 shares, which includes previously reported restricted stock units. InvestingPro data shows the company maintains a GOOD financial health score, with particularly strong price momentum metrics. Subscribers can access 6 additional key ProTips and a comprehensive Pro Research Report, part of the extensive analysis available for over 1,400 US stocks.
In other recent news, Orthofix International N.V. has demonstrated robust growth in the third quarter of 2024, with net sales reaching $196.6 million, marking a 7% year-over-year increase. The company attributes part of this success to an 18% growth in U.S. spine fixation sales. In addition, Orthofix has set ambitious financial targets for 2027, aiming for a 6% to 7% compound annual growth rate in net sales and mid-teens adjusted EBITDA margins.
These developments are part of the company's strategy for sustainable growth, which includes investing 8% to 9% of sales annually in research and development. Moreover, Orthofix completed a $275 million financing to optimize its capital structure. Notably, the company's projections for net sales in 2024 are between $795 million to $800 million, indicating up to 7.2% growth.
However, it's important to note that the company's guidance does not take into account potential impacts from hurricanes and IV shortages. Despite these potential challenges, Orthofix remains optimistic about its future, particularly with the strong performance across all spine franchises and the increasing demand for its 7D system in spine surgeries.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.