Zacks Investment Research lowered shares of Orthofix International N.V. (NASDAQ:OFIX) from a strong-buy rating to a hold rating in a research report report published on Wednesday.
According to Zacks, “Orthofix International N.V. is a leading provider of high-value, minimally invasive medical devices for the orthopaedic and trauma markets. Orthofix is well positioned to expand its focus and capitalise on the growing medical acceptance of high technology in orthopaedic treatment and spine repair. The company sells its diverse product line in different countries through its subsidiaries and distribution agreements with leading orthopaedic companies, including Sulzer Medica Group, Sofamor Danek Group, Kendall Healthcare Products and B. Braun. (PRESS RELEASE) “
OFIX has been the subject of several other research reports. Langenberg & Company reissued a buy rating and issued a $53.25 price objective on shares of Orthofix International N.V. in a research report on Wednesday, June 14th. Jefferies Group LLC reissued a buy rating and issued a $55.00 price objective (up previously from $50.00) on shares of Orthofix International N.V. in a research report on Thursday, August 10th. BidaskClub lowered shares of Orthofix International N.V. from a strong-buy rating to a buy rating in a research report on Tuesday, July 25th. BTIG Research began coverage on shares of Orthofix International N.V. in a research report on Wednesday, June 21st. They issued a buy rating and a $52.00 price objective for the company. Finally, Ladenburg Thalmann Financial Services began coverage on shares of Orthofix International N.V. in a research report on Wednesday, June 14th. They issued a buy rating and a $53.25 price objective for the company. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. The company has an average rating of Buy and a consensus price target of $52.75.
Orthofix International N.V. (NASDAQ OFIX) traded down 0.31% during mid-day trading on Wednesday, reaching $48.93. 55,434 shares of the company traded hands. The stock has a 50-day moving average of $48.74 and a 200 day moving average of $44.40. The stock has a market capitalization of $889.06 million, a PE ratio of 114.59 and a beta of 0.20. Orthofix International N.V. has a 52-week low of $32.51 and a 52-week high of $51.09.
Orthofix International N.V. (NASDAQ:OFIX) last issued its quarterly earnings results on Monday, August 7th. The medical device company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.41 by $0.01. Orthofix International N.V. had a net margin of 1.88% and a return on equity of 9.96%. The firm had revenue of $108.90 million during the quarter, compared to analyst estimates of $102.94 million. During the same quarter in the prior year, the business posted $0.41 earnings per share. Orthofix International N.V.’s revenue for the quarter was up 4.6% compared to the same quarter last year. Equities research analysts expect that Orthofix International N.V. will post $1.56 earnings per share for the current year.
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In other Orthofix International N.V. news, CFO Rice Doug sold 7,353 shares of the stock in a transaction on Monday, September 11th. The shares were sold at an average price of $49.46, for a total transaction of $363,679.38. Following the transaction, the chief financial officer now directly owns 44,743 shares in the company, valued at approximately $2,212,988.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Raymond Fujikawa sold 6,364 shares of the stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $47.06, for a total transaction of $299,489.84. Following the transaction, the insider now owns 31,084 shares in the company, valued at $1,462,813.04. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 23,406 shares of company stock valued at $1,138,531. Company insiders own 5.60% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of OFIX. Wellington Management Group LLP bought a new position in Orthofix International N.V. during the 1st quarter valued at $20,021,000. Vanguard Group Inc. boosted its stake in Orthofix International N.V. by 18.6% during the 1st quarter. Vanguard Group Inc. now owns 1,815,948 shares of the medical device company’s stock valued at $69,278,000 after acquiring an additional 284,482 shares during the last quarter. Teachers Advisors LLC boosted its stake in Orthofix International N.V. by 676.2% during the 1st quarter. Teachers Advisors LLC now owns 276,340 shares of the medical device company’s stock valued at $10,542,000 after acquiring an additional 240,740 shares during the last quarter. Paradice Investment Management LLC bought a new position in Orthofix International N.V. during the 2nd quarter valued at $6,642,000. Finally, Principal Financial Group Inc. bought a new position in Orthofix International N.V. during the 1st quarter valued at $5,359,000. Hedge funds and other institutional investors own 94.40% of the company’s stock.
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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