Stock Track | Orthofix International Soars on Analyst Upgrade and Strong Q3 Results

Stock Track

Nov 08, 2024

Shares of Orthofix International NV (NASDAQ: OFIX) surged 5.16% on Wednesday, November 8th, after the medical device company received a bullish analyst rating and reported robust third-quarter financial results.

Stifel Nicolaus, a prominent investment bank, upgraded Orthofix Medical to a "Buy" rating and set a price target of $24 per share, citing the company's strong prospects and potential for growth.

Additionally, Orthofix International reported impressive third-quarter earnings, with several key highlights: - Net sales of $196.6 million, representing a 7% year-over-year growth on a constant currency basis. - Adjusted EBITDA of $19.2 million, with a margin expansion of approximately 250 basis points. - Positive free cash flow of $5.9 million for the quarter. - Bone Growth Therapy revenue grew 9%, with a 13% increase in the fracture market. - US Spine Fixation revenue increased by 18%, more than triple the market growth rate. - Global Spinal Implants, Biologics, and Enabling Technologies revenue rose 7% year-over-year. - US Orthopedics revenue grew 15%, contributing to a 3% growth in the global orthopedics business.

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0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nStock Track | Orthofix International Soars on Analyst Upgrade and Strong Q3 Results\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1086803395\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Stock Track </p>\n<p class=\"h-time\">2024-11-08 22:47</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Shares of Orthofix International NV (NASDAQ: OFIX) surged 5.16% on Wednesday, November 8th, after the medical device company received a bullish analyst rating and reported robust third-quarter financial results.\n\n<p>Stifel Nicolaus, a prominent investment bank, upgraded Orthofix Medical to a \"Buy\" rating and set a price target of $24 per share, citing the company's strong prospects and potential for growth.\n\n<p>Additionally, Orthofix International reported impressive third-quarter earnings, with several key highlights:\n\n- Net sales of $196.6 million, representing a 7% year-over-year growth on a constant currency basis.\n- Adjusted EBITDA of $19.2 million, with a margin expansion of approximately 250 basis points.\n- Positive free cash flow of $5.9 million for the quarter.\n- Bone Growth Therapy revenue grew 9%, with a 13% increase in the fracture market.\n- US Spine Fixation revenue increased by 18%, more than triple the market growth rate.\n- Global Spinal Implants, Biologics, and Enabling Technologies revenue rose 7% year-over-year.\n- US Orthopedics revenue grew 15%, contributing to a 3% growth in the global orthopedics business.\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"OFIX","symbol_name":"Orthofix International N.V.","start_time":0,"source_url":"","article_id":"1151217310","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1151217310","pubTimestamp":1731077227,"columns":[],"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Shares of Orthofix International NV  surged 5.16% on Wednesday, November 8th, after the medical device company received a bullish analyst rating and reported robust third-quarter financial results.Stifel Nicolaus, a prominent investment bank, upgraded Orthofix Medical to a \"Buy\" rating and set a price target of $24 per share, citing the company's strong prospects and potential for growth.Additionally, Orthofix International reported impressive third-quarter earnings, with 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with a margin expansion of approximately 250 basis points.\n- Positive free cash flow of $5.9 million for the quarter.\n- Bone Growth Therapy revenue grew 9%, with a 13% increase in the fracture market.\n- US Spine Fixation revenue increased by 18%, more than triple the market growth rate.\n- Global Spinal Implants, Biologics, and Enabling Technologies revenue rose 7% year-over-year.\n- US Orthopedics revenue grew 15%, contributing to a 3% growth in the global orthopedics business.","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"movement","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"}}}