OFIX

Orthofix Medical Inc

Healthcare


Presented:04/11/2024
Price:$13.95
Cap:$0.52B
Current Price:$15.66
Cap:$0.60B

Presented

Date04/11/2024
Price$13.95
Market Cap$0.52B
Ent Value$0.60B
P/E RatioN/A
Book Value$16.11
Div Yield0%
Shares O/S37.41M
Ave Daily Vol362,860
Short Int11.67%

Current

Price$15.66
Market Cap$0.60B
Orthofix Medical, Inc. engages in the provision of medical devices. It operates through the following business segments: Global Spine and Global Extremities. The Global Spine reporting segment offers three primary product categories: Bone Growth Therapies, Spinal Implants, and Biologics. The Bone Growth Therapies product category manufactures, distributes, and provides support services of bone growth stimulator devices that enhance bone fusion. The Spinal Implants product category designs, develops, and markets a broad portfolio of motion preservation and fixation implant products used in surgical procedures of the spine. The Biologics product category provides a portfolio of regenerative products and tissue forms that allow physicians to treat a variety of spinal and orthopedic conditions. The Global Extremities reporting segment offers products and solutions that allow physicians to successfully treat a variety of orthopedic conditions unrelated to the spine. The company was founded on October 19, 1987 and is headquartered in Lewisville, TX.

Public companies mentioned herein: Orthofix Medical Inc (OFIX), ZimVie (ZIMV), Johnson & Johnson (JNJ), Globus Medical Inc (GMED)

Highlights

The presenter is long shares of Orthofix Medical Inc (OFIX), a pure play spine company formed through the merger of Orthofix and SeaSpine in January 2023. While management was dismissed in late 2023, the presenter views the situation as stabilized and believes 2024 numbers have been de-risked with upside potential from additional synergy capture, a strong underlying market and disruptions with competitors. Using 12x on the presenter's 2025 EBITDA estimate, the stock could trade at $25, or 80% upside.

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Idea Discussion

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