BidaskClub Lowers Orthofix International (OFIX) to Sell
Orthofix International (NASDAQ:OFIX) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating in a report released on Thursday.
A number of other research firms have also commented on OFIX. Zacks Investment Research upgraded Orthofix International from a “hold” rating to a “buy” rating and set a $60.00 price objective on the stock in a research note on Thursday, November 2nd. TheStreet lowered Orthofix International from a “b” rating to a “c+” rating in a research note on Tuesday, October 31st. Finally, BTIG Research set a $56.00 price objective on Orthofix International and gave the stock a “buy” rating in a research note on Monday, October 30th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $54.42.
Orthofix International (OFIX) traded up $1.19 during trading hours on Thursday, reaching $52.90. The company had a trading volume of 352,606 shares, compared to its average volume of 104,569. The firm has a market cap of $986.63, a PE ratio of 33.80, a P/E/G ratio of 2.56 and a beta of 0.14. Orthofix International has a 1-year low of $32.51 and a 1-year high of $54.73.
In other Orthofix International news, insider Bradley V. Niemann sold 5,547 shares of the firm’s stock in a transaction on Monday, December 11th. The stock was sold at an average price of $52.08, for a total transaction of $288,887.76. Following the transaction, the insider now owns 34,631 shares in the company, valued at approximately $1,803,582.48. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Brad Mason sold 5,000 shares of the firm’s stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $53.48, for a total value of $267,400.00. Following the transaction, the chief executive officer now owns 183,053 shares in the company, valued at approximately $9,789,674.44. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 15,347 shares of company stock worth $802,144. Corporate insiders own 5.60% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of OFIX. Bank of America Corp DE increased its stake in shares of Orthofix International by 834.2% in the 1st quarter. Bank of America Corp DE now owns 28,838 shares of the medical device company’s stock valued at $1,100,000 after purchasing an additional 25,751 shares during the last quarter. State Street Corp increased its stake in shares of Orthofix International by 27.0% in the 1st quarter. State Street Corp now owns 462,479 shares of the medical device company’s stock valued at $17,640,000 after purchasing an additional 98,212 shares during the last quarter. Aperio Group LLC increased its stake in shares of Orthofix International by 23.4% in the 2nd quarter. Aperio Group LLC now owns 15,316 shares of the medical device company’s stock valued at $712,000 after purchasing an additional 2,902 shares during the last quarter. Municipal Employees Retirement System of Michigan bought a new position in shares of Orthofix International in the 2nd quarter valued at $196,000. Finally, Texas Permanent School Fund increased its stake in shares of Orthofix International by 41.5% in the 2nd quarter. Texas Permanent School Fund now owns 13,174 shares of the medical device company’s stock valued at $612,000 after purchasing an additional 3,867 shares during the last quarter. Institutional investors own 94.61% of the company’s stock.
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About Orthofix International
Orthofix International N.V. (Orthofix) is a global medical device company. The Company is focused on providing reconstructive and regenerative orthopedic and spine solutions to physicians. The company operates in four segments: BioStim, Biologics, Extremity Fixation and Spine Fixation. Its BioStim solutions products include Cervical-Stim, Spinal-Stim and Physio-Stim.
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