Orthofix Medical (OFIX) Plunges 7.13% in Two Days, Hits 2024 Low

Orthofix Medical (OFIX) shares fell 1.80% today, marking the second consecutive day of decline, with a total drop of 7.13% over the past two days. The stock price hit its lowest level since July 2024, experiencing an intraday decline of 5.03%.

Orthofix Medical's negative P/E ratio of -4.45 indicates that the company is currently experiencing financial challenges, which could be a significant factor in the recent decline of its stock price. A negative P/E ratio suggests that the company is not generating profits, which can lead to investor uncertainty and a decrease in stock value.

Raymond James Financial Inc. has recently reduced its stock position in Orthofix Medical Inc. This move by a major financial institution can influence market sentiment and potentially affect the stock price. Investors often view such actions as a signal of potential future performance, which can lead to a decrease in demand for the stock and a subsequent drop in its price.