Orthofix International (OFIX) Rating Lowered to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of Orthofix International (NASDAQ:OFIX) from a hold rating to a sell rating in a report published on Thursday, August 9th.

According to Zacks, “Orthofix International is a diversified, global medical device company focused on improving patients’ lives by providing superior reconstructive and regenerative orthopedic and spine solutions to physicians worldwide. The company has four strategic business units that include BioStim, Biologics, Extremity Fixation and Spine Fixation. Many of their innovative product offerings were cultivated through affiliations with surgeons and premiere health care organizations. “

A number of other research analysts have also recently issued reports on the company. Cantor Fitzgerald initiated coverage on Orthofix International in a report on Thursday, May 31st. They set an overweight rating and a $62.00 price objective for the company. BidaskClub upgraded Orthofix International from a buy rating to a strong-buy rating in a research report on Wednesday, May 30th. Finally, TheStreet lowered Orthofix International from a b rating to a c+ rating in a research report on Wednesday, August 1st. One research analyst has rated the stock with a sell rating and six have given a buy rating to the company’s stock. Orthofix International currently has a consensus rating of Buy and an average price target of $62.25.

OFIX stock traded up $0.36 during midday trading on Thursday, hitting $53.56. 76,100 shares of the company traded hands, compared to its average volume of 148,786. Orthofix International has a twelve month low of $47.16 and a twelve month high of $61.98. The company has a market cap of $998.97 million, a PE ratio of 33.06, a price-to-earnings-growth ratio of 3.27 and a beta of 0.42.

Orthofix International (NASDAQ:OFIX) last announced its quarterly earnings data on Monday, August 6th. The medical device company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.06. The business had revenue of $111.50 million for the quarter, compared to the consensus estimate of $114.62 million. Orthofix International had a net margin of 2.53% and a return on equity of 10.74%. Orthofix International’s quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter last year, the company posted $0.42 earnings per share. sell-side analysts expect that Orthofix International will post 1.68 earnings per share for the current fiscal year.

In other news, CEO Brad Mason sold 2,500 shares of Orthofix International stock in a transaction dated Thursday, June 14th. The stock was sold at an average price of $57.95, for a total transaction of $144,875.00. Following the transaction, the chief executive officer now owns 143,221 shares in the company, valued at approximately $8,299,656.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Davide Bianchi sold 14,762 shares of the business’s stock in a transaction that occurred on Tuesday, June 19th. The shares were sold at an average price of $60.00, for a total value of $885,720.00. Following the completion of the sale, the insider now owns 41,260 shares in the company, valued at approximately $2,475,600. The disclosure for this sale can be found here. Insiders have sold a total of 33,512 shares of company stock worth $1,951,795 in the last quarter. 5.60% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC bought a new stake in Orthofix International in the 1st quarter valued at approximately $151,000. Meeder Asset Management Inc. raised its stake in shares of Orthofix International by 186.4% during the 1st quarter. Meeder Asset Management Inc. now owns 2,626 shares of the medical device company’s stock worth $154,000 after purchasing an additional 1,709 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of Orthofix International during the 1st quarter worth approximately $161,000. Itau Unibanco Holding S.A. bought a new stake in shares of Orthofix International during the 2nd quarter worth approximately $224,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in shares of Orthofix International during the 2nd quarter worth approximately $227,000.

Orthofix International Company Profile

Orthofix International N.V., a medical device company, provides musculoskeletal healing products and value-added services worldwide. It operates through four segments: BioStim, Extremity Fixation, Spine Fixation, and Biologics. The BioStim segment manufactures, distributes, and provides support services for bone growth stimulator devices that enhance bone fusion and are indicated as treatment to enhance fusion success rates in cervical and lumbar spine, as well as a therapeutic treatment for non-spine fractures.

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