Orthofix Medical Inc.
- Open
- 11.67
- Day high
- 11.84
- Day low
- 11.25
- Prev close
- 11.89
- Volume
- 319K
- Mkt cap
- $468M
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 1.1
- P/S
- 0.6
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$377K over the last 3 months (9 open-market buys, 3 sales)
- ◆Cluster buying — multiple insiders bought within days
- 🏛Institutions mixed (13F)
Orthofix Medical Inc. (OFIX) is a Healthcare company listed on NASDAQ. The stock is up 9% over the past year. Over the trailing 3 months, insiders filed 9 open-market buys and 3 sales (SEC Form 4).
Orthofix Medical Inc. (OFIX) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 3 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
OFIX earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 5, 2026 | $-0.68 | $-0.52 | +23.5% | $197M | +0.2% |
| Feb 24, 2026 | $0.44 | $-0.06 | -112.6% | $220M | +9.8% |
| Feb 25, 2025 | $0.06 | $0.02 | -66.7% | $216M | +8.0% |
| Nov 7, 2024 | $-0.14 | $0.07 | +150.0% | $197M | -7.6% |
| Mar 5, 2024 | $-0.14 | $-0.10 | +28.6% | $200M | +2.6% |
| Mar 6, 2023 | $-0.37 | $0.19 | +151.4% | $122M | -15.7% |
| Nov 3, 2022 | $0.12 | $0.13 | +11.4% | $114M | -0.0% |
| Aug 5, 2022 | $0.07 | $0.08 | +14.3% | $118M | -0.2% |
| May 6, 2022 | $0.18 | $-0.10 | -155.6% | $106M | +2.0% |
| Feb 25, 2022 | $0.13 | $0.27 | +107.7% | $125M | +0.1% |
| Nov 5, 2021 | $0.13 | $0.10 | -23.1% | $112M | -8.2% |
| Aug 6, 2021 | $0.16 | $0.32 | +100.0% | $121M | +12.2% |
OFIX insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 22, 2026 | McPherron Avivaofficer: Pres, Global Ops & Qual | Sell | 3,670 | $9.38 |
| Jun 12, 2026 | Maniar Shwetadirector | Grant | 14,965 | — |
| Jun 12, 2026 | Bazaar Alan Leedirector | Grant | 14,965 | — |
| Jun 12, 2026 | Kummeth Charles R.director | Grant | 14,965 | — |
| Jun 12, 2026 | Hannon Jasondirector | Grant | 14,965 | — |
| Jun 12, 2026 | CAPPS VICKIE Ldirector | Grant | 14,965 | — |
| Jun 12, 2026 | Paolucci Michael Edirector | Grant | 14,965 | — |
| Jun 12, 2026 | Finegan Michaeldirector | Grant | 20,721 | — |
| Jun 12, 2026 | BURRIS WAYNEdirector | Grant | 14,965 | — |
| Jun 12, 2026 | HENNEMAN JOHN B IIIdirector | Grant | 14,965 | — |
| May 29, 2026 | Juniper Investment Company, LLC10 percent owner | Sell | 242,000 | $10.70 |
| May 8, 2026 | HENNEMAN JOHN B IIIdirector | Buy | 5,000 | $12.26 |
| May 7, 2026 | Engine Capital Management, LP10 percent owner | Buy | 904 | $12.15 |
| May 7, 2026 | Engine Capital Management, LP10 percent owner | Buy | 18,192 | $12.20 |
| May 7, 2026 | Engine Capital Management, LP10 percent owner | Buy | 9,096 | $12.15 |
Source: OFIX SEC Form 4 filings, latest Jun 22, 2026. For informational purposes only — not investment advice.
See the full OFIX insider & 13F page →Orthofix Medical Inc. company profile
Overview
Orthofix Medical Inc. (NASDAQ:OFIX) is a medical device and biologics company founded in 1980 and headquartered in Lewisville, Texas. The company went public in 1992 and has evolved through strategic acquisitions, most notably its merger with SeaSpine in January 2023, which significantly expanded its spine product portfolio. Orthofix operates globally across the United States, Europe, and other international markets, focusing on orthopedic and spine medical solutions. The company has undergone significant transformation in recent years, including a name change from Orthofix International N.V. in 2018 and strategic portfolio optimization to focus on higher-growth, more profitable product lines.
Business
Orthofix Medical operates in the medical device industry, specifically focusing on orthopedic and spine care solutions. The company develops, manufactures, and distributes medical devices that help patients recover from bone injuries, spinal conditions, and orthopedic disorders. The medical device industry serves healthcare providers by creating specialized equipment and implants that enable surgical procedures and therapeutic treatments. The company operates through two primary business segments: Global Spine segment (approximately 54% of revenue based on recent quarters) encompasses several product categories. The spinal implants division produces fixation devices - metal hardware systems including screws, rods, and plates that surgeons use to stabilize the spine during fusion procedures. These devices are essential for treating conditions like scoliosis, degenerative disc disease, and spinal fractures. The segment also includes biologics - materials that promote bone growth and healing, such as bone grafts and synthetic bone substitutes that fill gaps between vertebrae to encourage fusion. Additionally, this segment features enabling technologies, most notably the 7D FLASH Navigation System, which provides real-time surgical guidance to help spine surgeons place implants with greater precision and safety. Bone Growth Therapies (BGT) segment (approximately 28% of revenue) focuses on bone growth stimulator devices. These are electronic devices that patients wear or have implanted to deliver low-level electrical or ultrasonic stimulation to bone tissue. This stimulation accelerates the natural bone healing process for both spinal fusions and fractures in arms, legs, and other appendicular bones. The therapy is particularly valuable for patients whose bones are healing slowly or are at risk of non-union (failure to heal properly). Global Orthopedics segment (approximately 18% of revenue) develops products for general orthopedic procedures including external fixation systems - external metal frameworks that hold broken bones in proper position while they heal, commonly used for complex fractures, limb lengthening, and deformity correction. The segment also includes specialized products like the TrueLok system for limb reconstruction and the Fitbone system for limb lengthening procedures.
Revenue model
Orthofix generates revenue primarily through product sales to healthcare providers including hospitals, ambulatory surgery centers, and physician practices. The company employs a multi-channel distribution strategy combining direct sales representatives, independent distributors, and employed sales representatives who market products directly to surgeons and healthcare purchasing organizations. The business model centers on selling high-value medical devices and consumable products. Spinal implants and orthopedic devices typically represent one-time sales per patient procedure, with prices ranging from hundreds to thousands of dollars per case depending on complexity. Bone growth stimulators generate recurring revenue through device rentals and replacement units, as patients typically use these devices for 3-9 months during their healing process. The 7D Navigation System creates additional revenue streams through equipment sales and ongoing service agreements. Several factors influence the company's profitability margins. Positive margin drivers include the high-value nature of medical devices which command premium pricing, the specialized nature of products that reduces direct price competition, successful integration of acquired companies that creates operational synergies, and the recurring revenue component from bone growth therapy rentals. The company has achieved approximately $38 million in annualized synergies from the SeaSpine merger integration. Margin pressures come from healthcare cost containment initiatives that push hospitals to negotiate lower prices, regulatory compliance costs for FDA approvals and quality certifications, research and development investments (8-9% of sales annually), competitive pressure from larger medical device companies, and reimbursement challenges as insurance companies scrutinize coverage for certain procedures. Additionally, the company faces integration costs from acquisitions and the need to maintain extensive sales and marketing infrastructure to support complex medical device sales cycles.
Competitive moat
Orthofix operates in a moderately competitive medical device market with limited but meaningful competitive advantages. The company's primary moat stems from regulatory barriers and specialized expertise. Medical devices require extensive FDA approvals and clinical data, creating significant time and cost barriers for new entrants. The company's decades of experience in bone healing and spinal procedures have resulted in established relationships with key opinion leader surgeons and a deep understanding of clinical needs. The 7D FLASH Navigation System represents a potential technological moat, as surgical navigation systems require substantial R&D investment and surgeon training. The system's integration with Orthofix's implant portfolio creates switching costs for surgeons who become familiar with the platform. However, this advantage is challenged by larger competitors like Medtronic and Stryker who offer more comprehensive navigation solutions. The company's specialized focus on bone growth stimulation provides some protection, as this market requires specific clinical expertise and regulatory knowledge. The recurring revenue nature of bone growth therapy rentals creates customer stickiness once treatment protocols are established. However, Orthofix faces significant competitive threats. The company holds only approximately 3% market share in spine, indicating limited pricing power against larger competitors. Major medical device companies like Johnson & Johnson's DePuy Synthes, Medtronic, and Stryker possess substantially greater resources for R&D, marketing, and acquisition activities. These competitors can offer broader product portfolios and more comprehensive solutions to hospital systems seeking to consolidate vendors. The company's moat is relatively narrow and primarily defensive rather than offensive. While regulatory barriers protect against new entrants, established competitors can potentially replicate or improve upon Orthofix's offerings through superior resources and distribution networks.
Risks & safety
The company presents moderate financial risk with several concerning metrics but manageable debt levels. • Cash burn and solvency: Free cash flow was negative $25.1 million in Q1 2025 and negative $9.1 million for full year 2024. Operating cash flow turned positive at $25.8 million for 2024. Current cash position of $58 million provides limited runway at current burn rates. Current ratio of 2.7x indicates adequate short-term liquidity. • Debt position: Debt-to-equity ratio of 0.42x is manageable. The company completed $275 million refinancing in 2024, improving debt structure. Total liabilities of $365 million against $823 million in assets shows reasonable leverage. • Valuation metrics: Trading at negative P/E ratios due to losses. EV/EBITDA multiple meaningless due to negative EBITDA in recent quarters. Price-to-book ratio of 1.4x suggests modest premium to book value. • Other considerations: Revenue growth has been modest (6-7% guidance), and the company is still integrating SeaSpine acquisition. Management expects positive free cash flow for 2025, but execution risk remains given recent performance.
Recent development
Over the past few years, Orthofix has undergone significant strategic transformation centered around the SeaSpine merger completed in January 2023. This $1.2 billion transaction dramatically expanded the company's spine portfolio and created a more comprehensive offering in spinal implants, biologics, and enabling technologies. The integration has generated approximately $38 million in annualized synergies through operational efficiencies and cost reductions. The company has made several strategic portfolio decisions, most notably discontinuing the M6 artificial disc product lines to focus resources on higher-growth, more profitable opportunities. This reflects management's shift toward disciplined capital allocation and margin improvement rather than revenue growth at any cost. Product innovation has accelerated with multiple FDA approvals and launches. The AccelStim 2.0 bone growth stimulator received FDA approval, representing an upgrade to their core BGT platform. The TrueLok Elevate Transverse Bone Transport System gained FDA clearance and is targeting the diabetic foot amputation prevention market with significant commercial potential. The company has also expanded its biologics portfolio with new synthetic and tissue-based solutions. The 7D FLASH Navigation System has emerged as a key strategic priority, with management reporting 150% year-over-year growth in earnout agreements and strong adoption among spine surgeons. The company is investing in expanding the system's capabilities from open procedures to minimally invasive surgery applications. Commercial strategy optimization has included targeted distributor transitions in spine territories, focusing on larger, more capital-efficient partners rather than expanding distributor count. This approach prioritizes sustainable, profitable growth over market share expansion. Management has also emphasized cross-selling opportunities across the expanded product portfolio to maximize revenue per customer relationship.
OFIX company profile · for informational purposes only — not investment advice.
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