BidaskClub Lowers Orthofix Medical (NASDAQ:OFIX) to Sell

BidaskClub downgraded shares of Orthofix Medical (NASDAQ:OFIX) from a hold rating to a sell rating in a report issued on Tuesday, BidAskClub reports.

Other equities analysts also recently issued reports about the stock. TheStreet downgraded shares of Trade Desk from a b- rating to a c- rating in a report on Thursday, May 9th. ValuEngine downgraded shares of Zymeworks from a buy rating to a hold rating in a report on Saturday, May 18th. Finally, Zacks Investment Research raised shares of Zurich Insurance Group from a sell rating to a hold rating in a report on Saturday, May 18th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average target price of $60.00.

NASDAQ OFIX opened at $51.55 on Tuesday. The company has a fifty day simple moving average of $51.24. Orthofix Medical has a 12-month low of $47.79 and a 12-month high of $74.44. The company has a current ratio of 3.52, a quick ratio of 2.28 and a debt-to-equity ratio of 0.06. The firm has a market cap of $988.76 million, a P/E ratio of 28.65, a P/E/G ratio of 2.92 and a beta of 0.44.

Orthofix Medical (NASDAQ:OFIX) last posted its quarterly earnings results on Monday, May 6th. The medical device company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.13). Orthofix Medical had a net margin of 2.09% and a return on equity of 10.45%. The business had revenue of $109.10 million during the quarter, compared to analyst estimates of $110.59 million. During the same period in the previous year, the business posted $0.39 EPS. The business’s revenue for the quarter was up .4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Orthofix Medical will post 1.77 EPS for the current fiscal year.

In other Orthofix Medical news, CEO Brad Mason sold 10,668 shares of Orthofix Medical stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $53.71, for a total transaction of $572,978.28. Following the transaction, the chief executive officer now directly owns 165,120 shares of the company’s stock, valued at approximately $8,868,595.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 25,507 shares of company stock worth $1,338,776 over the last ninety days. Insiders own 5.60% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. boosted its holdings in Orthofix Medical by 2.1% during the 4th quarter. BlackRock Inc. now owns 2,908,597 shares of the medical device company’s stock worth $152,673,000 after acquiring an additional 60,189 shares during the last quarter. Norges Bank purchased a new position in Orthofix Medical during the 4th quarter worth $23,555,000. Victory Capital Management Inc. raised its stake in shares of Orthofix Medical by 26.3% during the 1st quarter. Victory Capital Management Inc. now owns 411,688 shares of the medical device company’s stock worth $23,223,000 after purchasing an additional 85,625 shares during the period. Rothschild & Co. Asset Management US Inc. raised its stake in shares of Orthofix Medical by 3.6% during the 1st quarter. Rothschild & Co. Asset Management US Inc. now owns 230,089 shares of the medical device company’s stock worth $12,979,000 after purchasing an additional 8,034 shares during the period. Finally, Dalton Greiner Hartman Maher & Co. raised its stake in shares of Orthofix Medical by 2.3% during the 2nd quarter. Dalton Greiner Hartman Maher & Co. now owns 205,540 shares of the medical device company’s stock worth $10,869,000 after purchasing an additional 4,717 shares during the period. 94.39% of the stock is currently owned by hedge funds and other institutional investors.

Orthofix Medical Company Profile

Orthofix Medical Inc, a medical device company, provides musculoskeletal healing products and therapies worldwide. It operates through four segments: Bone Growth Therapies, Spinal Implants, Biologics, and Orthofix Extremities. The Bone Growth Therapies 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-spinal appendicular fractures.

Featured Article: Analyzing a company’s cash flow statement

Receive News & Ratings for Orthofix Medical Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Orthofix Medical and related companies with MarketBeat.com's FREE daily email newsletter.