Orthofix Medical (NASDAQ:OFIX) Cut to Buy at BidaskClub

Orthofix Medical (NASDAQ:OFIX) was downgraded by BidaskClub from a “strong-buy” rating to a “buy” rating in a report issued on Wednesday, September 12th.

OFIX has been the subject of a number of other reports. TheStreet downgraded Orthofix Medical from a “b” rating to a “c+” rating in a research note on Wednesday, August 1st. Cantor Fitzgerald began coverage on Orthofix Medical in a research note on Thursday, May 31st. They issued an “overweight” rating and a $62.00 price target for the company. Finally, Zacks Investment Research upgraded Orthofix Medical from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 4th. One equities research analyst has rated the stock with a sell rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $62.25.

Shares of NASDAQ OFIX traded up $0.29 during midday trading on Wednesday, reaching $56.51. 91,100 shares of the company’s stock were exchanged, compared to its average volume of 143,276. Orthofix Medical has a 52-week low of $47.51 and a 52-week high of $61.98. The firm has a market cap of $1.08 billion, a price-to-earnings ratio of 34.77, a PEG ratio of 3.54 and a beta of 0.36.

Orthofix Medical (NASDAQ:OFIX) last announced its earnings results on Monday, August 6th. The medical device company reported $0.42 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.06. Orthofix Medical had a return on equity of 10.74% and a net margin of 2.53%. The business had revenue of $111.50 million for the quarter, compared to analyst estimates of $114.62 million. During the same period in the previous year, the company earned $0.42 earnings per share. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. On average, research analysts expect that Orthofix Medical will post 1.68 EPS for the current fiscal year.

In other Orthofix Medical news, CEO Brad Mason sold 2,500 shares of Orthofix Medical stock in a transaction that occurred on Wednesday, September 5th. The stock was sold at an average price of $53.02, for a total value of $132,550.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last 90 days, insiders sold 7,500 shares of company stock valued at $412,275. 5.60% of the stock is currently owned by insiders.

A number of hedge funds have recently modified their holdings of the business. Wells Fargo & Company MN grew its holdings in shares of Orthofix Medical by 244.2% in the first quarter. Wells Fargo & Company MN now owns 137,669 shares of the medical device company’s stock worth $8,093,000 after purchasing an additional 97,672 shares during the last quarter. SG Americas Securities LLC bought a new stake in Orthofix Medical in the first quarter valued at $151,000. Schwab Charles Investment Management Inc. boosted its holdings in Orthofix Medical by 2.3% in the first quarter. Schwab Charles Investment Management Inc. now owns 126,860 shares of the medical device company’s stock valued at $7,457,000 after acquiring an additional 2,793 shares in the last quarter. BlackRock Inc. boosted its holdings in Orthofix Medical by 7.7% in the first quarter. BlackRock Inc. now owns 2,653,227 shares of the medical device company’s stock valued at $155,957,000 after acquiring an additional 189,215 shares in the last quarter. Finally, Federated Investors Inc. PA boosted its holdings in Orthofix Medical by 1.4% in the first quarter. Federated Investors Inc. PA now owns 115,103 shares of the medical device company’s stock valued at $6,766,000 after acquiring an additional 1,644 shares in the last quarter. Institutional investors own 93.44% of the company’s stock.

About Orthofix Medical

Orthofix Medical Inc, a medical device company, provides musculoskeletal healing products and value-added services worldwide. It operates through four segments: BioStim, Extremity Fixation, Spine Fixation, and Biologics. The BioStim segment manufactures, distributes, and provides support services for bone growth stimulator devices that enhance bone fusion and are indicated as treatment to enhance fusion success rates in cervical and lumbar spine, as well as a therapeutic treatment for non-spine fractures.

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