Bank of New York Mellon Corp cut its stake in Orthofix International NV (NASDAQ:OFIX) by 3.7% during the second quarter, Holdings Channel reports. The institutional investor owned 89,945 shares of the medical device company’s stock after selling 3,420 shares during the period. Bank of New York Mellon Corp owned approximately 0.49% of Orthofix International NV worth $3,814,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in the company. Royal Bank of Canada raised its position in Orthofix International NV by 28.0% in the first quarter. Royal Bank of Canada now owns 12,913 shares of the medical device company’s stock valued at $536,000 after buying an additional 2,828 shares in the last quarter. TIAA CREF Investment Management LLC raised its position in Orthofix International NV by 4.7% in the first quarter. TIAA CREF Investment Management LLC now owns 95,843 shares of the medical device company’s stock valued at $3,979,000 after buying an additional 4,269 shares in the last quarter. Algert Global LLC purchased a new position in Orthofix International NV during the first quarter valued at about $373,000. Bank of Montreal Can purchased a new position in Orthofix International NV during the second quarter valued at about $456,000. Finally, American Century Companies Inc. raised its position in Orthofix International NV by 62.2% in the second quarter. American Century Companies Inc. now owns 30,275 shares of the medical device company’s stock valued at $1,284,000 after buying an additional 11,605 shares in the last quarter. 91.26% of the stock is currently owned by institutional investors and hedge funds.
Shares of Orthofix International NV (NASDAQ:OFIX) traded up 1.55% during midday trading on Wednesday, hitting $43.11. 84,149 shares of the stock were exchanged. The stock has a 50 day moving average price of $43.93 and a 200-day moving average price of $43.78. The company’s market cap is $781.33 million. Orthofix International NV has a 12 month low of $32.25 and a 12 month high of $48.25.
Orthofix International NV (NASDAQ:OFIX) last issued its quarterly earnings data on Monday, August 1st. The medical device company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.33 by $0.08. Orthofix International NV had a negative net margin of 0.37% and a positive return on equity of 8.50%. The firm had revenue of $104.10 million for the quarter, compared to analyst estimates of $102.40 million. During the same period in the prior year, the business posted $0.36 EPS. The business’s revenue for the quarter was up 3.1% compared to the same quarter last year. On average, analysts predict that Orthofix International NV will post $1.41 EPS for the current year.
Several research firms have issued reports on OFIX. TheStreet lowered shares of Orthofix International NV from a “buy” rating to a “hold” rating in a report on Wednesday, August 3rd. Zacks Investment Research raised shares of Orthofix International NV from a “hold” rating to a “strong-buy” rating and set a $49.00 price target on the stock in a report on Thursday, August 4th.
In other news, insider Michael Finegan sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, September 1st. The shares were sold at an average price of $45.16, for a total value of $1,129,000.00. Following the transaction, the insider now directly owns 51,670 shares in the company, valued at approximately $2,333,417.20. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 5.10% of the stock is currently owned by insiders.
Orthofix International NV Company Profile
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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