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Investors Purchase High Volume of Call Options on Colfax (NYSE:CFX)

Last updated on Wednesday, May 5, 2021 | 2021 MarketBeat

Colfax Co. (NYSE:CFX) was the target of unusually large options trading activity on Tuesday. Stock investors purchased 1,196 call options on the stock. This is an increase of 1,453% compared to the typical volume of 77 call options.

In other Colfax news, CEO Matthew L. Trerotola sold 6,057 shares of Colfax stock in a transaction dated Thursday, February 25th. The shares were sold at an average price of $46.01, for a total value of $278,682.57. Following the completion of the transaction, the chief executive officer now directly owns 233,699 shares of the company's stock, valued at $10,752,490.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Patricia A. Lang sold 24,677 shares of Colfax stock in a transaction dated Monday, May 3rd. The stock was sold at an average price of $43.94, for a total transaction of $1,084,307.38. Following the completion of the transaction, the senior vice president now directly owns 43,218 shares of the company's stock, valued at $1,898,998.92. The disclosure for this sale can be found here. Insiders sold 65,201 shares of company stock valued at $2,970,792 over the last ninety days. Corporate insiders own 12.00% of the company's stock.

A number of hedge funds have recently made changes to their positions in CFX. Oak Ridge Investments LLC lifted its holdings in Colfax by 1,455.3% in the 1st quarter. Oak Ridge Investments LLC now owns 2,087,901 shares of the industrial products company's stock valued at $91,471,000 after purchasing an additional 1,953,658 shares in the last quarter. Norges Bank purchased a new stake in shares of Colfax in the fourth quarter valued at about $43,307,000. Artisan Partners Limited Partnership acquired a new stake in Colfax during the fourth quarter worth about $30,304,000. Jennison Associates LLC purchased a new position in Colfax during the fourth quarter worth about $27,348,000. Finally, Hood River Capital Management LLC grew its stake in shares of Colfax by 75.7% in the 4th quarter. Hood River Capital Management LLC now owns 1,482,952 shares of the industrial products company's stock valued at $56,708,000 after buying an additional 638,767 shares during the period. Institutional investors own 99.56% of the company's stock.

Colfax stock traded down $0.56 during trading on Wednesday, reaching $42.43. The company had a trading volume of 18,170 shares, compared to its average volume of 1,433,022. The firm's 50-day simple moving average is $44.73 and its 200 day simple moving average is $39.72. Colfax has a 1-year low of $22.35 and a 1-year high of $50.26. The firm has a market capitalization of $5.75 billion, a PE ratio of -851.20, a price-to-earnings-growth ratio of 2.61 and a beta of 2.15. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.96 and a current ratio of 1.64.

Colfax (NYSE:CFX) last announced its quarterly earnings data on Thursday, April 29th. The industrial products company reported $0.44 earnings per share for the quarter, beating analysts' consensus estimates of $0.39 by $0.05. Colfax had a positive return on equity of 6.04% and a negative net margin of 0.24%. Analysts anticipate that Colfax will post 1.38 EPS for the current year.

A number of analysts have recently commented on the stock. Citigroup lifted their price target on shares of Colfax from $35.00 to $41.00 in a research note on Monday, February 22nd. Barclays reiterated an "underweight" rating and issued a $45.00 price target (down from $48.00) on shares of Colfax in a research note on Tuesday, April 13th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Colfax from $53.00 to $54.00 and gave the company a "hold" rating in a research report on Friday, March 12th. TheStreet upgraded shares of Colfax from a "c" rating to a "b-" rating in a research report on Monday, February 22nd. Finally, Morgan Stanley upped their price target on shares of Colfax from $45.00 to $47.00 and gave the company an "equal weight" rating in a research note on Friday, April 30th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company's stock. The company currently has a consensus rating of "Hold" and a consensus price target of $40.58.

About Colfax

Colfax Corporation operates as a diversified technology company worldwide. The company operates in two segments, Fabrication Technology and Medical Technology. The Fabrication Technology segment formulates, develops, manufactures, and supplies consumable products and equipment, including cutting, joining, and automated welding products, as well as gas control equipment.

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