Zacks Investment Research Downgrades Orthofix International NV (OFIX) to Hold
Orthofix International NV (NASDAQ:OFIX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Tuesday.
According to Zacks, “Orthofix International N.V. is a leading provider of high-value, minimally invasive medical devices for the orthopaedic and trauma markets. Orthofix is well positioned to expand its focus and capitalise on the growing medical acceptance of high technology in orthopaedic treatment and spine repair. The company sells its diverse product line in different countries through its subsidiaries and distribution agreements with leading orthopaedic companies, including Sulzer Medica Group, Sofamor Danek Group, Kendall Healthcare Products and B. Braun. (PRESS RELEASE) “
Separately, TheStreet downgraded shares of Orthofix International NV from a “buy” rating to a “hold” rating in a report on Wednesday, August 3rd.
Shares of Orthofix International NV (NASDAQ:OFIX) opened at 42.01 on Tuesday. The stock’s 50 day moving average is $43.84 and its 200 day moving average is $43.84. Orthofix International NV has a 1-year low of $32.25 and a 1-year high of $48.25. The company’s market capitalization is $761.39 million.
Orthofix International NV (NASDAQ:OFIX) last announced its earnings results on Monday, August 1st. The medical device company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.33 by $0.08. The business earned $104.10 million during the quarter, compared to the consensus estimate of $102.40 million. Orthofix International NV had a negative net margin of 0.37% and a positive return on equity of 8.50%. Orthofix International NV’s revenue was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.36 EPS. On average, equities research analysts anticipate that Orthofix International NV will post $1.41 EPS for the current fiscal year.
In other Orthofix International NV news, insider Michael Finegan sold 25,000 shares of the business’s stock in a transaction dated Thursday, September 1st. The shares were sold at an average price of $45.16, for a total value of $1,129,000.00. Following the completion of the sale, the insider now owns 51,670 shares of the company’s stock, valued at approximately $2,333,417.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.10% of the stock is currently owned by company insiders.
Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Orthofix International NV by 7.6% in the second quarter. Vanguard Group Inc. now owns 1,445,396 shares of the medical device company’s stock worth $61,285,000 after buying an additional 101,509 shares in the last quarter. Numeric Investors LLC increased its stake in Orthofix International NV by 15.7% in the second quarter. Numeric Investors LLC now owns 670,203 shares of the medical device company’s stock worth $28,417,000 after buying an additional 91,144 shares in the last quarter. Acadian Asset Management LLC increased its stake in Orthofix International NV by 25.1% in the second quarter. Acadian Asset Management LLC now owns 660,196 shares of the medical device company’s stock worth $27,993,000 after buying an additional 132,537 shares in the last quarter. Renaissance Technologies LLC increased its stake in Orthofix International NV by 78.7% in the first quarter. Renaissance Technologies LLC now owns 456,379 shares of the medical device company’s stock worth $18,949,000 after buying an additional 201,020 shares in the last quarter. Finally, Gabelli Funds LLC increased its stake in Orthofix International NV by 0.3% in the second quarter. Gabelli Funds LLC now owns 290,450 shares of the medical device company’s stock worth $12,315,000 after buying an additional 1,000 shares in the last quarter. 91.26% of the stock is owned by hedge funds and other institutional investors.
About Orthofix International NV
Orthofix International N.V. (Orthofix) is a global medical device company. The Company is focused on providing reconstructive and regenerative orthopedic and spine solutions to physicians. The company operates in four segments: BioStim, Biologics, Extremity Fixation and Spine Fixation. Its BioStim solutions products include Cervical-Stim, Spinal-Stim and Physio-Stim.
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