Orthofix Medical (NASDAQ:OFIX) Cut to "Sell" at Wall Street Zen

Wall Street Zen cut shares of Orthofix Medical (NASDAQ:OFIX - Free Report) from a hold rating to a sell rating in a research note published on Friday morning.

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

Orthofix Medical Stock Up 0.7%

Shares of NASDAQ OFIX traded up $0.08 during midday trading on Friday, hitting $11.05. 606,469 shares of the stock traded hands, compared to its average volume of 275,605. The company has a market cap of $432.95 million, a PE ratio of -3.53 and a beta of 0.80. Orthofix Medical has a one year low of $10.50 and a one year high of $20.73. The business has a 50 day moving average price of $12.71 and a two-hundred day moving average price of $15.98. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.11 and a current ratio of 2.39.

Insiders Place Their Bets

In other Orthofix Medical news, insider Jorge Andres Cedron sold 3,816 shares of the company's stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $13.31, for a total value of $50,790.96. Following the completion of the transaction, the insider now owns 42,500 shares in the company, valued at $565,675. This represents a 8.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Massimo Calafiore acquired 10,000 shares of Orthofix Medical stock in a transaction on Friday, May 9th. The stock was acquired at an average price of $12.54 per share, with a total value of $125,400.00. Following the purchase, the chief executive officer now directly owns 234,603 shares in the company, valued at approximately $2,941,921.62. This trade represents a 4.45% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 112,250 shares of company stock valued at $1,380,970 and sold 8,475 shares valued at $128,065. 1.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Rhumbline Advisers grew its stake in shares of Orthofix Medical by 1.2% during the 4th quarter. Rhumbline Advisers now owns 54,989 shares of the medical device company's stock worth $960,000 after acquiring an additional 661 shares during the period. Invesco Ltd. grew its stake in shares of Orthofix Medical by 1.0% during the 4th quarter. Invesco Ltd. now owns 74,977 shares of the medical device company's stock worth $1,309,000 after acquiring an additional 767 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Orthofix Medical by 4.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,348 shares of the medical device company's stock worth $338,000 after buying an additional 836 shares during the period. Gamco Investors INC. ET AL boosted its holdings in Orthofix Medical by 1.0% in the 1st quarter. Gamco Investors INC. ET AL now owns 157,100 shares of the medical device company's stock worth $2,562,000 after buying an additional 1,500 shares during the period. Finally, Swiss National Bank boosted its holdings in Orthofix Medical by 2.6% in the 4th quarter. Swiss National Bank now owns 67,600 shares of the medical device company's stock worth $1,180,000 after buying an additional 1,700 shares during the period. Institutional investors own 89.76% of the company's stock.

About Orthofix Medical

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.