Orthofix Medical (NASDAQ:OFIX) Cut to “Sell” at BidaskClub

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

Separately, Zacks Investment Research cut Orthofix Medical from a “buy” rating to a “hold” rating in a research report on Friday, August 9th. One investment 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. The company has a consensus rating of “Hold” and an average target price of $59.50.

Orthofix Medical stock traded up $1.32 during midday trading on Friday, reaching $52.08. The company’s stock had a trading volume of 72,504 shares, compared to its average volume of 97,800. Orthofix Medical has a 52 week low of $47.79 and a 52 week high of $74.44. The company has a current ratio of 3.42, a quick ratio of 2.26 and a debt-to-equity ratio of 0.06. The business has a 50-day moving average price of $51.42 and a 200-day moving average price of $52.41. The stock has a market cap of $967.79 million, a PE ratio of 30.40, a price-to-earnings-growth ratio of 2.87 and a beta of 0.41.

Orthofix Medical (NASDAQ:OFIX) last released its earnings results on Monday, August 5th. The medical device company reported $0.28 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.40 by ($0.12). Orthofix Medical had a net margin of 1.75% and a return on equity of 9.50%. The business had revenue of $115.85 million during the quarter, compared to the consensus estimate of $115.17 million. During the same quarter in the prior year, the firm earned $0.42 EPS. The business’s revenue was up 3.9% on a year-over-year basis. As a group, research analysts predict that Orthofix Medical will post 1.77 EPS for the current fiscal year.

In other news, CEO Brad Mason sold 5,805 shares of the business’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $50.97, for a total transaction of $295,880.85. Following the sale, the chief executive officer now directly owns 165,041 shares in the company, valued at $8,412,139.77. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 5.80% of the company’s stock.

Several large investors have recently added to or reduced their stakes in OFIX. Nuveen Asset Management LLC bought a new stake in shares of Orthofix Medical during the second quarter worth about $22,655,000. Dalton Greiner Hartman Maher & Co. grew its holdings in shares of Orthofix Medical by 53.7% during the second quarter. Dalton Greiner Hartman Maher & Co. now owns 302,309 shares of the medical device company’s stock worth $15,986,000 after purchasing an additional 105,575 shares during the last quarter. THB Asset Management grew its holdings in shares of Orthofix Medical by 233.3% during the second quarter. THB Asset Management now owns 137,288 shares of the medical device company’s stock worth $7,259,000 after purchasing an additional 96,097 shares during the last quarter. Oakview Capital Management L.P. grew its holdings in shares of Orthofix Medical by 26.8% during the second quarter. Oakview Capital Management L.P. now owns 408,157 shares of the medical device company’s stock worth $21,583,000 after purchasing an additional 86,234 shares during the last quarter. Finally, Marshall Wace LLP grew its holdings in shares of Orthofix Medical by 55.2% during the second quarter. Marshall Wace LLP now owns 238,332 shares of the medical device company’s stock worth $12,603,000 after purchasing an additional 84,747 shares during the last quarter. Institutional investors own 94.80% 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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