BlackRock Inc. lowered its holdings in Orthofix International N.V. (NASDAQ:OFIX) by 0.5% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,205,523 shares of the medical device company’s stock after selling 11,335 shares during the period. BlackRock Inc. owned approximately 12.22% of Orthofix International N.V. worth $102,513,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. State of Alaska Department of Revenue raised its holdings in shares of Orthofix International N.V. by 79.3% in the 2nd quarter. State of Alaska Department of Revenue now owns 3,551 shares of the medical device company’s stock valued at $165,000 after acquiring an additional 1,571 shares in the last quarter. Mason Street Advisors LLC purchased a new stake in shares of Orthofix International N.V. in the 1st quarter valued at about $159,000. Municipal Employees Retirement System of Michigan purchased a new stake in shares of Orthofix International N.V. in the 2nd quarter valued at about $196,000. UBS Asset Management Americas Inc. purchased a new stake in shares of Orthofix International N.V. in the 1st quarter valued at about $229,000. Finally, New York State Teachers Retirement System purchased a new stake in shares of Orthofix International N.V. in the 1st quarter valued at about $262,000. 96.17% of the stock is currently owned by hedge funds and other institutional investors.
In related news, insider Bradley V. Niemann sold 6,956 shares of the business’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $49.44, for a total value of $343,904.64. Following the sale, the insider now directly owns 40,178 shares in the company, valued at $1,986,400.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Rice Doug sold 7,353 shares of the business’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $49.46, for a total value of $363,679.38. Following the completion of the sale, the chief financial officer now owns 44,743 shares in the company, valued at $2,212,988.78. The disclosure for this sale can be found here. Insiders sold 23,406 shares of company stock worth $1,138,531 over the last quarter. 5.60% of the stock is owned by company insiders.
Several analysts have weighed in on OFIX shares. TheStreet raised Orthofix International N.V. from a “c+” rating to a “b-” rating in a report on Tuesday, August 8th. BidaskClub cut Orthofix International N.V. from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Zacks Investment Research raised Orthofix International N.V. from a “hold” rating to a “buy” rating and set a $54.00 price target on the stock in a report on Thursday, August 10th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $55.00 price target (up previously from $50.00) on shares of Orthofix International N.V. in a report on Thursday, August 10th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Orthofix International N.V. presently has an average rating of “Buy” and a consensus target price of $52.75.
Shares of Orthofix International N.V. (OFIX) opened at 48.88 on Friday. The stock has a market cap of $888.15 million, a PE ratio of 114.47 and a beta of 0.20. Orthofix International N.V. has a 12-month low of $32.51 and a 12-month high of $51.09. The firm has a 50 day moving average price of $48.86 and a 200 day moving average price of $44.79.
Orthofix International N.V. (NASDAQ:OFIX) last posted its earnings results on Monday, August 7th. The medical device company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.01. The company had revenue of $108.90 million for the quarter, compared to the consensus estimate of $102.94 million. Orthofix International N.V. had a return on equity of 9.96% and a net margin of 1.88%. The firm’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.41 earnings per share. On average, equities analysts expect that Orthofix International N.V. will post $1.56 EPS for the current year.
About Orthofix International N.V.
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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