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Orthofix Medical (TASE:BLWV) Inc. (NASDAQ:OFIX), a $660 million medical device company with a strong financial health score according to InvestingPro, recently reported a transaction involving its Chief Accounting Officer, Geoffrey C. Gillespie. On March 18, Gillespie sold 296 shares of the company’s common stock at a price of $16.60 per share. This transaction, which totaled $4,913, was conducted to satisfy tax withholding obligations related to the settlement of restricted stock units. Following this sale, Gillespie holds 42,521 shares, which includes 35,034 restricted stock units previously reported. The sale was part of a pre-existing sell-to-cover requirement approved by the company’s board. The company maintains a healthy liquidity position with a current ratio of 2.57, and InvestingPro analysis suggests the stock is currently trading below its Fair Value, with additional insights available in the comprehensive Pro Research Report covering this and 1,400+ other US stocks.
In other recent news, Orthofix Medical Inc. reported a robust fourth-quarter performance, with revenue reaching $215.7 million, marking a 7.6% increase year-over-year and surpassing the consensus estimate of $212.7 million. Adjusted EBITDA also exceeded expectations, coming in at $23.9 million. Despite this growth, the company provided a revenue guidance for fiscal year 2025 that fell short of Street projections, due in part to the discontinuation of certain product lines. In a strategic move, Orthofix received FDA clearance for its TrueLok™ Elevate Transverse Bone Transport System, offering new solutions for limb preservation. Additionally, Orthofix expanded its Board of Directors with the appointment of finance expert Vickie Capps, aiming to enhance its strategic development and corporate finance capabilities. Analyst firm BTIG maintained a Neutral rating on Orthofix, while Canaccord Genuity initiated coverage with a Buy rating and a price target of $24.00, citing optimism about the company’s strategic initiatives and product portfolio. The company’s integration efforts following its merger with SeaSpine were highlighted as a positive development by Canaccord Genuity. These recent developments reflect Orthofix’s ongoing efforts to innovate and grow within the medical technology sector.
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