Orthofix Medical (NASDAQ:OFIX) Sees Large Volume Increase After Insider Buying Activity

Shares of Orthofix Medical Inc. (NASDAQ:OFIX) saw unusually-strong trading volume on Friday after an insider bought additional shares in the company. Approximately 341,957 shares traded hands during mid-day trading, an increase of 2% from the previous session’s volume of 333,636 shares.The stock last traded at $13.64 and had previously closed at $13.17.

Specifically, Director James F. Hinrichs bought 7,500 shares of the stock in a transaction on Thursday, September 14th. The shares were acquired at an average price of $13.47 per share, for a total transaction of $101,025.00. Following the purchase, the director now owns 86,153 shares of the company’s stock, valued at $1,160,480.91. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 4.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on OFIX shares. BTIG Research downgraded Orthofix Medical from a “buy” rating to a “neutral” rating in a report on Tuesday. StockNews.com started coverage on shares of Orthofix Medical in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. Finally, Stifel Nicolaus downgraded shares of Orthofix Medical from a “buy” rating to a “hold” rating and decreased their price target for the stock from $30.00 to $16.00 in a research report on Tuesday.

Orthofix Medical Stock Up 3.9 %

The company has a 50-day moving average of $19.23 and a two-hundred day moving average of $18.68. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.82 and a quick ratio of 1.25. The company has a market capitalization of $502.60 million, a PE ratio of -3.70 and a beta of 0.85.

Orthofix Medical (NASDAQ:OFIX) last posted its quarterly earnings data on Tuesday, August 8th. The medical device company reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.67) by $0.69. The firm had revenue of $187.02 million for the quarter, compared to the consensus estimate of $183.80 million. Orthofix Medical had a negative return on equity of 1.90% and a negative net margin of 19.74%. Sell-side analysts anticipate that Orthofix Medical Inc. will post -0.66 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Orthofix Medical

Several large investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in shares of Orthofix Medical by 55.5% during the 1st quarter. BlackRock Inc. now owns 6,006,860 shares of the medical device company’s stock valued at $100,615,000 after purchasing an additional 2,144,154 shares during the period. First Light Asset Management LLC bought a new stake in Orthofix Medical during the first quarter valued at about $44,404,000. Rubric Capital Management LP lifted its position in shares of Orthofix Medical by 17.1% in the second quarter. Rubric Capital Management LP now owns 2,392,412 shares of the medical device company’s stock valued at $43,207,000 after acquiring an additional 348,698 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Orthofix Medical by 0.7% in the first quarter. Vanguard Group Inc. now owns 2,144,425 shares of the medical device company’s stock worth $70,122,000 after acquiring an additional 14,094 shares during the period. Finally, Armistice Capital LLC grew its position in shares of Orthofix Medical by 129.5% during the first quarter. Armistice Capital LLC now owns 1,836,000 shares of the medical device company’s stock worth $30,753,000 after purchasing an additional 1,036,000 shares in the last quarter. Hedge funds and other institutional investors own 89.76% of the company’s stock.

Orthofix Medical Company Profile

Orthofix Medical Inc operates spine and orthopedics company in the United States, Italy, Germany, France, the United Kingdom, Brazil, and internationally. It operates through Global Spine and Global Orthopedics segments. The Global Spine segment comprises the bone growth therapies products, which 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; the spinal implants products designs, develops, and markets a portfolio of motion preservation and fixation implant products, which are used in surgical procedures of the spine; and the biological products, such as regenerative products and tissue forms which allow physicians to treat a variety of spinal and orthopedic conditions.