The Orthofix International N.V. (OFIX) Stock Rating Lowered by Zacks Investment Research

The Orthofix International N.V. (OFIX) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research cut shares of Orthofix International N.V. (NASDAQ:OFIX) from a strong-buy rating to a hold rating in a report issued on Wednesday morning.

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 a number of other research reports. Langenberg & Company reissued a buy rating and issued a $53.25 target price on shares of Orthofix International N.V. in a research note on Wednesday, June 14th. BTIG Research initiated coverage on Orthofix International N.V. in a research note on Wednesday, June 21st. They issued a buy rating and a $52.00 target price for the company. Ladenburg Thalmann Financial Services initiated coverage on Orthofix International N.V. in a research note on Wednesday, June 14th. They issued a buy rating and a $53.25 target price for the company. TheStreet raised Orthofix International N.V. from a c+ rating to a b- rating in a research note on Tuesday, August 8th. Finally, BidaskClub lowered Orthofix International N.V. from a buy rating to a hold rating in a research note on Tuesday, August 1st. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock currently has an average rating of Buy and a consensus price target of $52.75.

Shares of Orthofix International N.V. (NASDAQ:OFIX) opened at 48.56 on Wednesday. The firm has a market cap of $882.34 million, a PE ratio of 113.72 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. The stock has a 50 day moving average price of $48.79 and a 200 day moving average price of $44.53.

Orthofix International N.V. (NASDAQ:OFIX) last released its earnings results on Monday, August 7th. The medical device company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.01. Orthofix International N.V. had a return on equity of 9.96% and a net margin of 1.88%. The company had revenue of $108.90 million during the quarter, compared to analyst estimates of $102.94 million. During the same quarter in the previous year, the company posted $0.41 EPS. Orthofix International N.V.’s revenue for the quarter was up 4.6% on a year-over-year basis. Equities analysts expect that Orthofix International N.V. will post $1.56 earnings per share for the current year.

In other news, 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 of the company’s stock, valued at approximately $2,212,988.78. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Bradley V. Niemann sold 6,956 shares of the business’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $49.44, for a total value of $343,904.64. Following the completion of the sale, the insider now directly owns 40,178 shares of the company’s stock, valued at approximately $1,986,400.32. The disclosure for this sale can be found here. In the last three months, insiders sold 23,406 shares of company stock valued at $1,138,531. 5.60% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company bought a new position in Orthofix International N.V. during the 2nd quarter valued at approximately $620,000. State Street Corp raised its position in Orthofix International N.V. by 4.1% during the 2nd quarter. State Street Corp now owns 481,220 shares of the medical device company’s stock valued at $22,370,000 after purchasing an additional 18,741 shares during the last quarter. Intrinsic Edge Capital Management LLC bought a new position in Orthofix International N.V. during the 2nd quarter valued at approximately $3,774,000. Numeric Investors LLC raised its position in Orthofix International N.V. by 15.2% during the 2nd quarter. Numeric Investors LLC now owns 98,100 shares of the medical device company’s stock valued at $4,560,000 after purchasing an additional 12,956 shares during the last quarter. Finally, Voya Investment Management LLC raised its position in Orthofix International N.V. by 10.7% during the 2nd quarter. Voya Investment Management LLC now owns 8,622 shares of the medical device company’s stock valued at $401,000 after purchasing an additional 832 shares during the last quarter. 94.40% of the stock is owned by institutional investors and hedge funds.

Orthofix International N.V. 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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