Orthofix International N.V. (NASDAQ:OFIX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Thursday. The firm currently has a $60.00 target price on the medical device company’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 11.67% from the company’s previous close.
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 equities analysts also recently commented on the stock. BidaskClub downgraded shares of Orthofix International N.V. from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. TheStreet upgraded shares of Orthofix International N.V. from a “c+” rating to a “b-” rating in a research note on Tuesday, August 8th. Jefferies Group LLC reiterated a “buy” rating and set a $55.00 target price (up previously from $50.00) on shares of Orthofix International N.V. in a research note on Thursday, August 10th. Finally, BTIG Research set a $56.00 target price on shares of Orthofix International N.V. and gave the stock a “buy” rating in a research note on Monday. Seven investment analysts have rated the stock with a buy rating, The company has a consensus rating of “Buy” and a consensus price target of $54.42.
Orthofix International N.V. (NASDAQ:OFIX) last issued its earnings results on Monday, October 30th. The medical device company reported $0.42 EPS 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 the consensus estimate of $100.67 million. Orthofix International N.V. had a net margin of 0.33% and a return on equity of 10.41%. The company’s revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.36 earnings per share.
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In other Orthofix International N.V. news, insider Raymond Fujikawa sold 6,364 shares of the company’s stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $47.06, for a total value of $299,489.84. Following the completion of the transaction, the insider now owns 31,084 shares in the company, valued at $1,462,813.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Brad Mason sold 2,733 shares of the company’s stock in a transaction on Monday, August 21st. The shares were sold at an average price of $48.10, for a total transaction of $131,457.30. Following the completion of the transaction, the chief executive officer now owns 188,053 shares of the company’s stock, valued at approximately $9,045,349.30. The disclosure for this sale can be found here. Insiders sold 23,406 shares of company stock valued at $1,138,531 in the last 90 days. 5.60% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OFIX. Pinebridge Investments L.P. boosted its stake in Orthofix International N.V. by 2.3% in the second quarter. Pinebridge Investments L.P. now owns 2,378 shares of the medical device company’s stock valued at $111,000 after acquiring an additional 53 shares in the last quarter. State of Alaska Department of Revenue boosted its stake in Orthofix International N.V. by 79.3% in the second quarter. State of Alaska Department of Revenue now owns 3,551 shares of the medical device company’s stock valued at $165,000 after acquiring an additional 1,571 shares in the last quarter. Municipal Employees Retirement System of Michigan acquired a new position in Orthofix International N.V. in the second quarter valued at $196,000. UBS Asset Management Americas Inc. acquired a new position in Orthofix International N.V. in the first quarter valued at $229,000. Finally, New York State Teachers Retirement System acquired a new position in Orthofix International N.V. in the first quarter valued at $262,000. Institutional investors own 93.80% of the company’s stock.
About Orthofix International N.V.
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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