Wall Street Zen Downgrades Orthofix Medical (NASDAQ:OFIX) to Sell

Wall Street Zen lowered shares of Orthofix Medical (NASDAQ:OFIX) from a hold rating to a sell rating in a research report released on Friday.

A number of other brokerages have also issued reports on OFIX. Canaccord Genuity Group restated a “buy” rating and set a $24.00 target price on shares of Orthofix Medical in a research report on Wednesday, February 26th. JMP Securities restated a “market perform” rating on shares of Orthofix Medical in a research report on Friday. Finally, Roth Mkm restated a “buy” rating and set a $22.00 target price on shares of Orthofix Medical in a research report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Orthofix Medical has an average rating of “Hold” and an average price target of $23.33.

Orthofix Medical Stock Up 2.4%

OFIX stock opened at $10.97 on Friday. The company has a current ratio of 2.39, a quick ratio of 1.11 and a debt-to-equity ratio of 0.25. Orthofix Medical has a twelve month low of $10.50 and a twelve month high of $20.73. The company’s 50 day moving average is $12.82 and its two-hundred day moving average is $16.07. The stock has a market cap of $429.82 million, a P/E ratio of -3.50 and a beta of 0.80.

Insider Buying and Selling at Orthofix Medical

In related news, CEO Massimo Calafiore bought 10,000 shares of the firm’s stock in a transaction on Friday, May 9th. The shares were bought at an average cost of $12.54 per share, for a total transaction of $125,400.00. Following the transaction, the chief executive officer now owns 234,603 shares of the company’s stock, valued at approximately $2,941,921.62. This trade represents a 4.45% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Lucas Vitale sold 4,287 shares of the business’s stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $16.60, for a total transaction of $71,164.20. Following the sale, the insider now owns 135,317 shares in the company, valued at $2,246,262.20. The trade was a 3.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have bought 112,250 shares of company stock valued at $1,380,970 and have sold 8,475 shares valued at $128,065. 1.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Orthofix Medical

Several institutional investors and hedge funds have recently made changes to their positions in OFIX. Barclays PLC boosted its position in shares of Orthofix Medical by 38.8% in the 3rd quarter. Barclays PLC now owns 122,472 shares of the medical device company’s stock worth $1,912,000 after buying an additional 34,210 shares in the last quarter. Rhumbline Advisers boosted its position in shares of Orthofix Medical by 1.2% in the 4th quarter. Rhumbline Advisers now owns 54,989 shares of the medical device company’s stock worth $960,000 after buying an additional 661 shares in the last quarter. Versor Investments LP purchased a new stake in shares of Orthofix Medical in the 4th quarter worth about $499,000. Charles Schwab Investment Management Inc. boosted its position in shares of Orthofix Medical by 4.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 339,531 shares of the medical device company’s stock worth $5,928,000 after buying an additional 14,724 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its position in shares of Orthofix Medical by 2.9% in the 4th quarter. Victory Capital Management Inc. now owns 66,675 shares of the medical device company’s stock worth $1,164,000 after buying an additional 1,868 shares in the last quarter. 89.76% of the stock is currently owned by hedge funds and other institutional investors.

About Orthofix Medical

Orthofix Medical Inc operates as a spine and orthopedics company in the United States, Italy, Germany, the United Kingdom, France, Brazil, and internationally. It operates through two segments, Global Spine and Global Orthopedics. The Global Spine segment manufactures and distributes bone growth stimulator devices for enhance of bone fusion, including adjunctive and noninvasive treatment of cervical and lumbar spine, as well as a therapeutic treatment for non-spine; designs, develops, and markets a portfolio of motion preservation and fixation implant products, which are used in surgical procedures of the spine; and offers biological products, such as fiber-based and particulate demineralized bone matrices, cellular bone allografts, collagen ceramic matrices, and synthetic bone void fillers, and tissue forms, which allow physicians to treat various spinal and orthopedic conditions.