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

Orthofix Medical Inc. (NASDAQ:OFIX) saw an uptick in trading volume on Friday after an insider bought additional shares in the company. 341,957 shares traded hands during 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 purchased 7,500 shares of the firm’s stock in a transaction dated Thursday, September 14th. The shares were purchased at an average price of $13.47 per share, with a total value of $101,025.00. Following the acquisition, the director now directly owns 86,153 shares of the company’s stock, valued at $1,160,480.91. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 4.70% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on OFIX. BTIG Research lowered shares of Orthofix Medical from a “buy” rating to a “neutral” rating in a report on Tuesday. StockNews.com assumed coverage on shares of Orthofix Medical in a report on Thursday, August 17th. They set a “hold” rating on the stock. Finally, Stifel Nicolaus lowered shares of Orthofix Medical from a “buy” rating to a “hold” rating and reduced their target price for the company from $30.00 to $16.00 in a report on Tuesday.

Orthofix Medical Stock Performance

The company has a current ratio of 2.82, a quick ratio of 1.25 and a debt-to-equity ratio of 0.11. The company’s fifty day moving average is $19.13 and its 200 day moving average is $18.63. The company has a market cap of $478.71 million, a P/E ratio of -3.56 and a beta of 0.85.

Orthofix Medical (NASDAQ:OFIX) last released its earnings results on Tuesday, August 8th. The medical device company reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.67) by $0.69. The company had revenue of $187.02 million for the quarter, compared to analyst estimates of $183.80 million. Orthofix Medical had a negative net margin of 19.74% and a negative return on equity of 1.90%. As a group, equities analysts predict that Orthofix Medical Inc. will post -0.66 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Orthofix Medical

A number of large investors have recently added to or reduced their stakes in the company. Virginia Retirement Systems ET AL bought a new stake in Orthofix Medical in the 2nd quarter worth $448,000. Comerica Bank purchased a new stake in shares of Orthofix Medical in the 2nd quarter worth about $4,831,000. Osaic Holdings Inc. lifted its position in shares of Orthofix Medical by 4.6% in the 2nd quarter. Osaic Holdings Inc. now owns 12,415 shares of the medical device company’s stock worth $224,000 after purchasing an additional 546 shares during the period. Legato Capital Management LLC lifted its position in shares of Orthofix Medical by 72.2% in the 2nd quarter. Legato Capital Management LLC now owns 59,441 shares of the medical device company’s stock worth $1,073,000 after purchasing an additional 24,925 shares during the period. Finally, Wells Fargo & Company MN lifted its position in shares of Orthofix Medical by 0.6% in the 2nd quarter. Wells Fargo & Company MN now owns 180,621 shares of the medical device company’s stock worth $3,262,000 after purchasing an additional 1,120 shares during the period. Institutional investors own 89.76% of the company’s stock.

About Orthofix Medical

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.