Orthofix Medical (NASDAQ:OFIX) Rating Increased to Hold at BidaskClub

Orthofix Medical (NASDAQ:OFIX) was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating in a note issued to investors on Thursday, BidAskClub reports.

A number of other equities research analysts have also issued reports on OFIX. TheStreet lowered Orthofix Medical from a “b+” rating to a “c+” rating in a research report on Thursday, May 9th. Zacks Investment Research lowered Orthofix Medical from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 10th. Finally, ValuEngine lowered Orthofix Medical from a “buy” rating to a “hold” rating in a research report on Saturday, May 18th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $60.00.

Orthofix Medical stock traded down $1.95 during midday trading on Thursday, reaching $52.89. The stock had a trading volume of 234,417 shares, compared to its average volume of 145,502. The company’s fifty day moving average is $51.61. Orthofix Medical has a 1-year low of $47.79 and a 1-year high of $74.44. The stock has a market capitalization of $1.02 billion, a PE ratio of 26.98, a P/E/G ratio of 3.01 and a beta of 0.42. The company has a quick ratio of 2.28, a current ratio of 3.52 and a debt-to-equity ratio of 0.06.

Orthofix Medical (NASDAQ:OFIX) last announced its earnings results on Monday, May 6th. The medical device company reported $0.27 earnings per share (EPS) for the quarter, missing the Zacks’ 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 firm had revenue of $109.10 million during the quarter, compared to analyst estimates of $110.59 million. During the same period in the prior year, the business posted $0.39 EPS. The firm’s quarterly revenue was up .4% compared to the same quarter last year. As a group, equities analysts anticipate that Orthofix Medical will post 1.77 EPS for the current year.

In other Orthofix Medical news, CEO Brad Mason sold 8,890 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $51.11, for a total value of $454,367.90. Following the completion of the transaction, the chief executive officer now directly owns 159,053 shares in the company, valued at $8,129,198.83. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 5.80% of the stock is owned by company insiders.

Hedge funds have recently bought and sold shares of the business. Marshall Wace North America L.P. bought a new position in Orthofix Medical in the first quarter valued at approximately $25,000. Exane Derivatives boosted its stake in shares of Orthofix Medical by 92.9% during the 1st quarter. Exane Derivatives now owns 1,395 shares of the medical device company’s stock worth $79,000 after acquiring an additional 672 shares during the period. Knott David M bought a new position in shares of Orthofix Medical during the 1st quarter worth approximately $113,000. Everence Capital Management Inc. bought a new position in shares of Orthofix Medical during the 1st quarter worth approximately $206,000. Finally, BNP Paribas Arbitrage SA boosted its stake in shares of Orthofix Medical by 185.5% during the 1st quarter. BNP Paribas Arbitrage SA now owns 4,576 shares of the medical device company’s stock worth $258,000 after acquiring an additional 2,973 shares during the period. Hedge funds and other institutional investors own 94.39% of the company’s stock.

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.

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