Orthofix Medical (NASDAQ:OFIX) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of Orthofix Medical (NASDAQ:OFIX) from a strong-buy rating to a hold rating in a research report report published on Wednesday, Zacks.com reports.

According to Zacks, “Orthofix Medical Inc. develops, produces and markets medical devices. The Company offers spine fixation, biological and other orthopedic and spine solutions. Orthofix Medical Inc., formerly known as Orthofix International N.V., is headquartered in Lewisville, Texas. “

OFIX has been the subject of several other research reports. BidaskClub downgraded Vertex Pharmaceuticals from a buy rating to a hold rating in a research report on Tuesday. ValuEngine downgraded Zymeworks from a buy rating to a hold rating in a research report on Saturday, May 18th. Finally, TheStreet downgraded Trade Desk from a b- rating to a c- rating in a research report on Thursday, May 9th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. The stock has an average rating of Hold and a consensus price target of $60.00.

Shares of OFIX stock opened at $51.55 on Wednesday. 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 has a fifty-two week low of $47.79 and a fifty-two week high of $74.44. The company has a 50 day moving average of $51.24. The company has a market capitalization 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 announced its quarterly earnings data on Monday, May 6th. The medical device company reported $0.27 earnings per share for the quarter, missing the Thomson Reuters’ 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 company had revenue of $109.10 million during the quarter, compared to the consensus estimate of $110.59 million. During the same quarter in the previous year, the firm posted $0.39 EPS. The business’s revenue for the quarter was up .4% compared to the same quarter last year. On average, equities analysts forecast that Orthofix Medical will post 1.77 EPS for the current year.

In other Orthofix Medical news, CEO Brad Mason sold 5,949 shares of the business’s stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $52.35, for a total value of $311,430.15. Following the completion of the sale, the chief executive officer now owns 179,237 shares in the company, valued at $9,383,056.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 25,507 shares of company stock valued at $1,338,776 in the last quarter. Corporate insiders own 5.60% of the company’s stock.

Several institutional investors have recently made changes to their positions in the stock. Dalton Greiner Hartman Maher & Co. raised its holdings in shares of Orthofix Medical by 2.3% during the second quarter. Dalton Greiner Hartman Maher & Co. now owns 205,540 shares of the medical device company’s stock valued at $10,869,000 after acquiring an additional 4,717 shares in the last quarter. First Trust Advisors LP raised its holdings in shares of Orthofix Medical by 85.7% during the first quarter. First Trust Advisors LP now owns 48,093 shares of the medical device company’s stock valued at $2,713,000 after acquiring an additional 22,190 shares in the last quarter. Marshall Wace North America L.P. bought a new position in shares of Orthofix Medical during the first quarter valued at approximately $25,000. Marshall Wace LLP raised its holdings in shares of Orthofix Medical by 18.4% during the first quarter. Marshall Wace LLP now owns 153,585 shares of the medical device company’s stock valued at $8,664,000 after acquiring an additional 23,865 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its holdings in shares of Orthofix Medical by 32.3% during the first quarter. Jacobs Levy Equity Management Inc. now owns 153,754 shares of the medical device company’s stock valued at $8,673,000 after acquiring an additional 37,540 shares in the last quarter. 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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