StockNews.com Downgrades Orthofix Medical (NASDAQ:OFIX) to Hold

StockNews.com lowered shares of Orthofix Medical (NASDAQ:OFIX) from a buy rating to a hold rating in a research report released on Wednesday morning.

Other research analysts have also recently issued reports about the stock. Canaccord Genuity Group reiterated a “buy” rating and issued a $24.00 target price on shares of Orthofix Medical in a research note on Wednesday, February 26th. Roth Mkm reiterated a “buy” rating and issued a $22.00 price objective on shares of Orthofix Medical in a research note on Wednesday, February 26th.

Orthofix Medical Price Performance

Shares of NASDAQ:OFIX opened at $12.11 on Wednesday. The company has a market capitalization of $472.56 million, a P/E ratio of -3.87 and a beta of 0.87. The company’s 50-day moving average is $14.86 and its 200 day moving average is $16.91. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.11 and a current ratio of 2.39. Orthofix Medical has a fifty-two week low of $10.50 and a fifty-two week high of $20.73.

Insider Activity

In related news, insider Lucas Vitale sold 4,287 shares of Orthofix Medical stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $16.60, for a total value of $71,164.20. Following the completion of the transaction, the insider now directly owns 135,317 shares in the company, valued at approximately $2,246,262.20. The trade was a 3.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Engine Capital Management, Lp bought 100,000 shares of the company’s stock in a transaction on Wednesday, May 7th. The shares were bought at an average price of $12.31 per share, for a total transaction of $1,231,000.00. Following the transaction, the insider now owns 3,544,807 shares of the company’s stock, valued at approximately $43,636,574.17. This represents a 2.90 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 8,475 shares of company stock valued at $128,065 over the last quarter. Company insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Orthofix Medical

Several hedge funds and other institutional investors have recently modified their holdings of OFIX. Vanguard Group Inc. grew its stake in Orthofix Medical by 2.6% during the first quarter. Vanguard Group Inc. now owns 2,181,313 shares of the medical device company’s stock valued at $35,577,000 after acquiring an additional 54,528 shares in the last quarter. US Bancorp DE grew its position in shares of Orthofix Medical by 684.6% during the 1st quarter. US Bancorp DE now owns 5,673 shares of the medical device company’s stock valued at $93,000 after purchasing an additional 4,950 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new position in shares of Orthofix Medical in the first quarter worth $164,000. XTX Topco Ltd raised its position in shares of Orthofix Medical by 48.9% in the first quarter. XTX Topco Ltd now owns 19,929 shares of the medical device company’s stock worth $325,000 after buying an additional 6,541 shares in the last quarter. Finally, GSA Capital Partners LLP boosted its stake in Orthofix Medical by 101.1% during the first quarter. GSA Capital Partners LLP now owns 38,906 shares of the medical device company’s stock valued at $635,000 after buying an additional 19,561 shares during the period. 89.76% of the stock is currently owned by 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.