Stock Traders Purchase Large 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 target of some unusual options trading activity on Monday. Investors bought 5,589 put options on the company. Thisisanincreaseof2,163% compared to the typical daily volume of 247 put options.

Analysts Set New Price Targets

OFIX has been the subject of a number of research analyst reports. JMP Securities reissued a "market perform" rating on shares of Orthofix Medical in a research report on Friday, June 6th. Barrington Research raised shares of Orthofix Medical to a "strong-buy" rating and set a $16.00 target price for the company in a research report on Monday, June 23rd. Finally, Wall Street Zen downgraded shares of Orthofix Medical from a "hold" rating to a "sell" rating in a research report on Friday, June 27th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $21.50.

Insider Activity

In other Orthofix Medical news, major shareholder Engine Capital Management, Lp acquired 100,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 7th. The shares were acquired at an average cost of $12.31 per share, for a total transaction of $1,231,000.00. Following the transaction, the insider directly owned 3,544,807 shares of the company's stock, valued at approximately $43,636,574.17. This represents a 2.90% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Aviva Mcpherron sold 3,728 shares of the business's stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $10.51, for a total transaction of $39,181.28. Following the completion of the transaction, the insider directly owned 46,322 shares of the company's stock, valued at $486,844.22. The trade was a 7.45% decrease in their position. The disclosure for this sale can be found here. Insiders have acquired 113,500 shares of company stock valued at $1,394,858 in the last ninety days. 1.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Lazard Asset Management LLC acquired a new stake in Orthofix Medical during the 4th quarter worth about $45,000. US Bancorp DE boosted its position in Orthofix Medical by 684.6% during the 1st quarter. US Bancorp DE now owns 5,673 shares of the medical device company's stock worth $93,000 after acquiring an additional 4,950 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in Orthofix Medical during the 4th quarter worth about $112,000. Tower Research Capital LLC TRC boosted its position in Orthofix Medical by 120.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 8,458 shares of the medical device company's stock worth $148,000 after acquiring an additional 4,627 shares during the period. Finally, Strs Ohio acquired a new stake in Orthofix Medical during the 1st quarter worth about $150,000. Institutional investors own 89.76% of the company's stock.

Orthofix Medical Stock Performance

Shares of OFIX traded up $0.18 during trading hours on Monday, reaching $10.95. 46,134 shares of the company's stock traded hands, compared to its average volume of 307,296. The firm has a market capitalization of $428.95 million, a price-to-earnings ratio of -2.96 and a beta of 0.82. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.71 and a quick ratio of 1.50. Orthofix Medical has a twelve month low of $10.24 and a twelve month high of $20.73. The business's fifty day simple moving average is $11.03 and its two-hundred day simple moving average is $14.08.

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.

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