Investors Buy High Volume of Put Options on ORTHOFIX MEDICAL (NASDAQ:OFIX)

Key Points

• Unusual Options Activity: Traders purchased 5,589 put options on Orthofix Medical, marking a staggering increase of 2,163% compared to the usual daily volume.
• Analyst Ratings: Analysts have mixed reviews on Orthofix Medical, with Barrington Research upgrading the stock to a "strong-buy" with a $16.00 target price, while Wall Street Zen downgraded it to "sell."
• Insider Transactions: Major shareholder Engine Capital Management acquired 100,000 shares at $12.31 each, increasing their ownership stake by 2.90%.

ORTHOFIX MEDICAL INC. (NASDAQ:OFIX - Get Free Report) was the recipient of some unusual options trading on Monday. Investors acquired 5,589 put options on the stock. Thisrepresentsanincreaseof2,163% compared to the average volume of 247 put options.

ORTHOFIX MEDICAL Stock Down 1.3%

Shares of NASDAQ:OFIX traded down $0.16 during trading on Friday, hitting $12.54. The company's stock had a trading volume of 98,627 shares, compared to its average volume of 314,731. The business has a 50 day moving average price of $11.09 and a two-hundred day moving average price of $13.97. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.50 and a current ratio of 2.67. ORTHOFIX MEDICAL has a fifty-two week low of $10.24 and a fifty-two week high of $20.73. The company has a market capitalization of $491.32 million, a PE ratio of -3.95 and a beta of 0.82.

ORTHOFIX MEDICAL (NASDAQ:OFIX - Get Free Report) last issued its earnings results on Tuesday, August 5th. The medical device company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.04 by ($0.40). ORTHOFIX MEDICAL had a negative return on equity of 25.43% and a negative net margin of 15.29%. The business had revenue of $203.12 million for the quarter, compared to analysts' expectations of $196.89 million. As a group, research analysts expect that ORTHOFIX MEDICAL will post -2.81 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Wall Street Zen cut shares of ORTHOFIX MEDICAL from a "hold" rating to a "sell" rating in a report on Friday, June 27th. Barrington Research upgraded ORTHOFIX MEDICAL to a "strong-buy" rating and set a $16.00 target price on the stock in a research note on Monday, June 23rd. Finally, JMP Securities reaffirmed a "market perform" rating on shares of ORTHOFIX MEDICAL in a report on Friday, June 6th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, ORTHOFIX MEDICAL currently has an average rating of "Moderate Buy" and an average price target of $21.50.

Insider Activity

In other news, insider Aviva Mcpherron sold 3,728 shares of the stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $10.51, for a total value of $39,181.28. Following the transaction, the insider owned 46,322 shares of the company's stock, valued at $486,844.22. This represents a 7.45% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.30% of the company's stock.

Hedge Funds Weigh In On ORTHOFIX MEDICAL

Institutional investors have recently made changes to their positions in the business. Juniper Investment Company LLC increased its holdings in shares of ORTHOFIX MEDICAL by 123.5% during the fourth quarter. Juniper Investment Company LLC now owns 1,937,249 shares of the medical device company's stock worth $33,824,000 after buying an additional 1,070,656 shares in the last quarter. Philosophy Capital Management LLC bought a new position in shares of ORTHOFIX MEDICAL during the 1st quarter valued at about $6,047,000. Engine Capital Management LP grew its position in shares of ORTHOFIX MEDICAL by 8.4% in the 1st quarter. Engine Capital Management LP now owns 3,741,390 shares of the medical device company's stock valued at $61,022,000 after purchasing an additional 290,646 shares during the period. JPMorgan Chase & Co. raised its holdings in ORTHOFIX MEDICAL by 244.1% during the 4th quarter. JPMorgan Chase & Co. now owns 290,351 shares of the medical device company's stock worth $5,070,000 after buying an additional 205,972 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in ORTHOFIX MEDICAL by 31.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 659,475 shares of the medical device company's stock valued at $11,515,000 after buying an additional 159,177 shares in the last quarter. 89.76% of the stock is currently owned by institutional investors.

ORTHOFIX MEDICAL Company Profile

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.