We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Orthofix (OFIX) Soars 5%: Is Further Upside Left in the Stock?
Read MoreHide Full Article
Orthofix (OFIX - Free Report) shares ended the last trading session 5% higher at $15.06. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 32.8% loss over the past four weeks.
Orthofix scored a strong price rise following its preliminary unaudited third quarter 2022 result showing a 5% year-over-year growth in net sales on a constant currency basis. The company delivered strong performance in Global Orthopedics, Biologics, and Bone Growth Therapies despite the industrywide macroeconomic issues.
Optimism also surrounds the news of the company entering into a definitive agreement with SeaSpine to combine in an all-stock merger of equals. The consolidation, post the completion of the merger, is aimed to form a leading global spine and orthopedics company with highly complementary portfolios of biologics, innovative spinal hardware, bone growth therapies, specialized orthopedic solutions and a leading surgical navigation system.
This medical device maker is expected to post break-even quarterly earnings per share in its upcoming report, which represents a year-over-year change of -100%. Revenues are expected to be $111 million, down 1.3% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Orthofix, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on OFIX going forward to see if this recent jump can turn into more strength down the road.
Orthofix is a member of the Zacks Medical - Instruments industry. One other stock in the same industry, Glaukos (GKOS - Free Report) , finished the last trading session 2.2% higher at $53.29. GKOS has returned -8.3% over the past month.
Glaukos' consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.53. Compared to the company's year-ago EPS, this represents a change of -179%. Glaukos currently boasts a Zacks Rank of #4 (Sell).
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Orthofix (OFIX) Soars 5%: Is Further Upside Left in the Stock?
Orthofix (OFIX - Free Report) shares ended the last trading session 5% higher at $15.06. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 32.8% loss over the past four weeks.
Orthofix scored a strong price rise following its preliminary unaudited third quarter 2022 result showing a 5% year-over-year growth in net sales on a constant currency basis. The company delivered strong performance in Global Orthopedics, Biologics, and Bone Growth Therapies despite the industrywide macroeconomic issues.
Optimism also surrounds the news of the company entering into a definitive agreement with SeaSpine to combine in an all-stock merger of equals. The consolidation, post the completion of the merger, is aimed to form a leading global spine and orthopedics company with highly complementary portfolios of biologics, innovative spinal hardware, bone growth therapies, specialized orthopedic solutions and a leading surgical navigation system.
This medical device maker is expected to post break-even quarterly earnings per share in its upcoming report, which represents a year-over-year change of -100%. Revenues are expected to be $111 million, down 1.3% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Orthofix, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on OFIX going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Orthofix is a member of the Zacks Medical - Instruments industry. One other stock in the same industry, Glaukos (GKOS - Free Report) , finished the last trading session 2.2% higher at $53.29. GKOS has returned -8.3% over the past month.
Glaukos' consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.53. Compared to the company's year-ago EPS, this represents a change of -179%. Glaukos currently boasts a Zacks Rank of #4 (Sell).