Wall Street Zen Downgrades Orthofix Medical (NASDAQ:OFIX) to Sell

Orthofix Medical (NASDAQ:OFIX - Get Free Report) was downgraded by analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a report issued on Friday.

OFIX has been the subject of a number of other research reports. Canaccord Genuity Group reiterated a "buy" rating and issued a $24.00 target price on shares of Orthofix Medical in a research note on Wednesday, February 26th. Roth Mkm reiterated a "buy" rating and set a $22.00 target price on shares of Orthofix Medical in a research report on Wednesday, February 26th. Finally, JMP Securities reissued a "market perform" rating on shares of Orthofix Medical in a research note on Friday. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $23.33.

Orthofix Medical Stock Performance

Shares of NASDAQ:OFIX traded up $0.26 during midday trading on Friday, hitting $10.97. The company's stock had a trading volume of 633,357 shares, compared to its average volume of 274,344. The stock has a market capitalization of $429.82 million, a price-to-earnings ratio of -3.50 and a beta of 0.80. The stock's 50 day simple moving average is $12.82 and its 200 day simple moving average is $16.07. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.11 and a current ratio of 2.39. Orthofix Medical has a fifty-two week low of $10.50 and a fifty-two week high of $20.73.

Insiders Place Their Bets

In related news, CEO Massimo Calafiore bought 10,000 shares of the business's stock in a transaction that occurred on Friday, May 9th. The shares were acquired at an average cost of $12.54 per share, with a total value of $125,400.00. Following the completion of the purchase, the chief executive officer now directly owns 234,603 shares in the company, valued at $2,941,921.62. The trade was a 4.45% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Jorge Andres Cedron sold 3,816 shares of the firm's stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $13.31, for a total value of $50,790.96. Following the completion of the sale, the insider now directly owns 42,500 shares of the company's stock, valued at $565,675. This trade represents a 8.24% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders acquired 112,250 shares of company stock worth $1,380,970 and sold 8,475 shares worth $128,065. Corporate insiders own 1.30% of the company's stock.

Institutional Investors Weigh In On Orthofix Medical

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

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