OFIX Stock Summary and Trading Ideas (Orthofix Medical | NASDAQ:OFIX)

Orthofix Medical Inc. is a medical device company delivering orthopedic and spine solutions to healthcare providers. The company has two main segments: global spine, including bone growth and healing therapies, spinal implants, and regenerative tissue products; and global orthopedics, providing products used in fracture repair, deformity correction, and bone reconstruction procedures. The majority of the company's sales come from the global spine segment in the United States. Orthofix distributes its products throughout North America, Europe, and several countries globally. The company provides solutions to hospitals, physicians, other healthcare providers, and patients.

Orthofix Medical trades on the NASDAQ stock market under the symbol OFIX.

As of April 19, 2024, OFIX stock price climbed to $13.10 with 270,989 million shares trading.

OFIX has a beta of 2.40, meaning it tends to be more sensitive to market movements. OFIX has a correlation of 0.19 to the broad based SPY ETF.

OFIX has a market cap of $490.03 million. This is considered a Small Cap stock.

Last quarter Orthofix Medical reported $200 million in Revenue and $.03 earnings per share. This beat revenue expectation by $5 million and exceeded earnings estimates by $.11.

In the last 3 years, OFIX stock traded as high as $45.96 and as low as $9.58.

The top ETF exchange traded funds that OFIX belongs to (by Net Assets): VTI, IWM, VXF, IWN, XHE.

OFIX has underperformed the market in the last year with a price return of -25.9% while the SPY ETF gained +21.2%. OFIX has also underperformed the stock market ETF in the last 3 month and 2 week periods returning -1.1% and -7.7%, respectively, while the SPY returned +4.3% and -3.5%, respectively.

OFIX support price is $12.65 and resistance is $13.39 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that OFIX stock will trade within this expected range on the day.