Zacks Investment Research Upgrades Orthofix International NV (OFIX) to “Buy”
Orthofix International NV (NASDAQ:OFIX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Thursday. The firm currently has a $60.00 price target on the medical device company’s stock. Zacks Investment Research‘s price target points to a potential upside of 15.63% from the company’s current price.
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) “
A number of other brokerages have also commented on OFIX. BTIG Research set a $56.00 price target on Orthofix International NV and gave the company a “buy” rating in a research note on Monday, October 30th. Jefferies Group LLC reissued a “buy” rating and set a $55.00 price target (up from $50.00) on shares of Orthofix International NV in a research note on Thursday, August 10th. TheStreet raised Orthofix International NV from a “c+” rating to a “b-” rating in a research note on Tuesday, August 8th. Finally, BidaskClub raised Orthofix International NV from a “hold” rating to a “buy” rating in a research note on Thursday, August 17th. Seven analysts have rated the stock with a buy rating, The company presently has a consensus rating of “Buy” and a consensus target price of $54.42.
Orthofix International NV (NASDAQ:OFIX) traded up $0.73 during midday trading on Thursday, hitting $51.89. The stock had a trading volume of 324,775 shares, compared to its average volume of 175,963. The company has a market capitalization of $946.02, a price-to-earnings ratio of 33.44, a price-to-earnings-growth ratio of 2.57 and a beta of 0.15. Orthofix International NV has a 1 year low of $32.51 and a 1 year high of $54.33.
Orthofix International NV (NASDAQ:OFIX) last released its quarterly earnings data on Monday, October 30th. The medical device company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.01. The firm had revenue of $105.30 million during the quarter, compared to analyst estimates of $100.67 million. Orthofix International NV had a return on equity of 10.26% and a net margin of 0.33%. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.36 earnings per share. research analysts forecast that Orthofix International NV will post 1.59 earnings per share for the current year.
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In other Orthofix International NV news, CFO Rice Doug sold 7,353 shares of the company’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $49.46, for a total transaction of $363,679.38. Following the sale, the chief financial officer now directly owns 44,743 shares in the company, valued at $2,212,988.78. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Brad Mason sold 2,733 shares of the company’s stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $48.10, for a total value of $131,457.30. Following the sale, the chief executive officer now owns 188,053 shares in the company, valued at $9,045,349.30. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,406 shares of company stock worth $1,138,531. Company insiders own 5.60% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. BNP Paribas Arbitrage SA raised its holdings in shares of Orthofix International NV by 41.1% in the third quarter. BNP Paribas Arbitrage SA now owns 10,794 shares of the medical device company’s stock worth $510,000 after buying an additional 3,143 shares during the period. Candriam Luxembourg S.C.A. purchased a new stake in shares of Orthofix International NV in the third quarter worth approximately $371,000. Stevens Capital Management LP purchased a new stake in shares of Orthofix International NV in the third quarter worth approximately $427,000. Chicago Equity Partners LLC purchased a new stake in shares of Orthofix International NV in the third quarter worth approximately $798,000. Finally, New York State Teachers Retirement System raised its holdings in shares of Orthofix International NV by 37.9% in the third quarter. New York State Teachers Retirement System now owns 9,456 shares of the medical device company’s stock worth $447,000 after buying an additional 2,600 shares during the period. Hedge funds and other institutional investors own 93.80% of the company’s stock.
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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