Insider Selling: Orthofix Medical Inc. (NASDAQ:OFIX) CAO Sells 767 Shares of Stock

Orthofix Medical Inc. (NASDAQ:OFIX) CAO Geoffrey C. Gillespie sold 767 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $17.79, for a total value of $13,644.93. Following the transaction, the chief accounting officer now directly owns 39,323 shares of the company’s stock, valued at approximately $699,556.17. This trade represents a 1.91 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Orthofix Medical Stock Down 3.0 %

Orthofix Medical stock opened at $18.47 on Friday. Orthofix Medical Inc. has a one year low of $12.08 and a one year high of $20.73. The business’s fifty day moving average is $18.03 and its 200 day moving average is $17.15. The company has a quick ratio of 1.11, a current ratio of 2.39 and a debt-to-equity ratio of 0.25.

Orthofix Medical (NASDAQ:OFIX) last posted its earnings results on Thursday, November 7th. The medical device company reported ($0.71) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.57). Orthofix Medical had a negative net margin of 15.18% and a negative return on equity of 21.25%. The company had revenue of $196.61 million for the quarter, compared to the consensus estimate of $196.60 million. During the same quarter in the prior year, the company posted ($0.77) EPS. Equities analysts anticipate that Orthofix Medical Inc. will post -2.81 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. R Squared Ltd bought a new stake in Orthofix Medical in the 4th quarter worth approximately $50,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Orthofix Medical by 5.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,994 shares of the medical device company’s stock worth $156,000 after buying an additional 559 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of Orthofix Medical in the third quarter worth $216,000. Quest Partners LLC increased its position in Orthofix Medical by 187.1% during the third quarter. Quest Partners LLC now owns 13,908 shares of the medical device company’s stock valued at $217,000 after acquiring an additional 9,063 shares during the last quarter. Finally, SG Americas Securities LLC lifted its holdings in Orthofix Medical by 74.0% in the third quarter. SG Americas Securities LLC now owns 17,117 shares of the medical device company’s stock valued at $267,000 after acquiring an additional 7,278 shares during the period. Institutional investors own 89.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Canaccord Genuity Group assumed coverage on Orthofix Medical in a research note on Wednesday, January 22nd. They issued a “buy” rating and a $24.00 target price on the stock. StockNews.com raised shares of Orthofix Medical from a “hold” rating to a “buy” rating in a research report on Friday, January 31st. Stifel Nicolaus raised shares of Orthofix Medical from a “hold” rating to a “buy” rating and lifted their target price for the stock from $18.00 to $24.00 in a report on Friday, November 8th. Finally, Roth Mkm reiterated a “buy” rating and issued a $22.00 target price (up previously from $20.00) on shares of Orthofix Medical in a research note on Friday, November 8th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $23.33.

About Orthofix Medical

Orthofix Medical Inc operates as a spine and orthopedics company in the United States, Italy, Germany, the United Kingdom, France, Brazil, and internationally. It operates through two segments, Global Spine and Global Orthopedics. The Global Spine segment 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; designs, develops, and markets a portfolio of motion preservation and fixation implant products, which are used in surgical procedures of the spine; and offers biological products, such as fiber-based and particulate demineralized bone matrices, cellular bone allografts, collagen ceramic matrices, and synthetic bone void fillers, and tissue forms, which allow physicians to treat various spinal and orthopedic conditions.