Orthofix Medical CAO sells $8,065 in common stock

Geoffrey C. Gillespie, the Chief Accounting Officer of Orthofix (NASDAQ:OFIX) Medical (TASE:PMCN) Inc. (NASDAQ:OFIX), has sold a total of $8,065 in common stock, according to a recent SEC filing. The transactions occurred on January 10 and January 13, with shares sold at prices ranging from $16.83 to $17.14. The medical device company, currently valued at $671 million, shows strong liquidity with a current ratio of 2.39. According to InvestingPro analysis, the stock appears slightly undervalued based on its Fair Value assessment.

The sales were made to satisfy tax withholding obligations related to the settlement of restricted stock units, as mandated by the company's board. Following these transactions, Gillespie retains ownership of 40,090 shares, including previously reported restricted stock units. While InvestingPro data indicates the company isn't currently profitable, it maintains a GOOD overall financial health score. Get access to 6 more exclusive ProTips and comprehensive insider trading analysis with InvestingPro's detailed research reports.

In other recent news, Orthofix International N.V. reported robust growth in its third quarter of 2024, with net sales experiencing a 7% year-over-year increase to reach $196.6 million. The company's U.S. sales in orthopedics and spine fixation saw record growth, particularly in U.S. spine fixation, which grew by 18%. Orthofix also 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.

The company remains committed to innovation and sustainable growth, with plans to invest 8% to 9% of sales annually in research and development. Recent developments include a $275 million financing completion to optimize its capital structure. The company's projections for net sales in 2024 are between $795 million to $800 million, reflecting up to 7.2% growth.

Orthofix's 7D navigation system, primarily used in spine surgeries, is seeing increasing demand due to its efficiency and quick registration times in the operating room. The company is also developing a minimally invasive surgery solution to expand in Ambulatory Surgical Centers. These recent developments and future plans reflect Orthofix's strategic positioning for continued growth.

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