Julie Andrews, the Chief Financial Officer of Orthofix Medical (TASE:PMCN) Inc. (NASDAQ:OFIX), recently sold a portion of her holdings in the company. According to a recent filing, Andrews sold 4,655 shares of common stock on January 16, 2025, at a price of $17.89 per share. This transaction totaled $83,277. The stock, currently trading at $18.36, has shown strong momentum with a 34% return over the past year. According to InvestingPro analysis, the company maintains a healthy financial position with a current ratio of 2.39, despite recent profitability challenges.
The sale was made to satisfy tax withholding obligations related to the settlement of restricted stock units. Following this transaction, Andrews retains ownership of 28,312 shares, which includes previously reported restricted stock units. The transaction was conducted in accordance with a pre-existing sell-to-cover requirement approved by the company's Compensation and Talent Development Committee. With a market capitalization of $702 million and revenue growth of 17% year-over-year, InvestingPro subscribers can access additional insights and 6 more ProTips about Orthofix's valuation and growth prospects.
In other recent news, Orthofix International N.V. has demonstrated a strong third quarter in 2024, achieving a significant 7% year-over-year increase in net sales, amassing $196.6 million. The company's CEO, Massimo Calafiore, pointed to record U.S. sales in orthopedics and spine fixation, particularly a remarkable 18% growth in U.S. spine fixation. Orthofix has also set ambitious financial targets for 2027, aiming for a 6% to 7% compound annual growth rate (CAGR) in net sales and mid-teens adjusted EBITDA margins.
The company has expressed its commitment to innovation and sustainable growth, planning to invest 8% to 9% of sales annually in research and development (R&D). Furthermore, Orthofix completed a $275 million financing to optimize its capital structure. The company's projections for net sales in 2024 are between $795 million to $800 million, reflecting up to 7.2% growth.
In analyst notes, the company's performance across all Spine franchises, with double-digit growth, and record number of 7D navigation system agreements and placements were highlighted. The 7D system is expected to be a key driver for navigated procedures, with 80% of spinal interventions still being open surgery. These are the recent developments in Orthofix's business strategy and financial performance.
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