Insider Selling: Orthofix Medical Inc. (NASDAQ:OFIX) Insider Sells 4,287 Shares of Stock

Orthofix Medical Inc. (NASDAQ:OFIX) insider Lucas Vitale sold 4,287 shares of the firm’s stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $16.60, for a total value of $71,164.20. Following the transaction, the insider now owns 135,317 shares in the company, valued at $2,246,262.20. This trade represents a 3.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Orthofix Medical Stock Performance

Shares of OFIX opened at $16.63 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.11 and a current ratio of 2.39. Orthofix Medical Inc. has a 1 year low of $12.08 and a 1 year high of $20.73. The firm has a fifty day moving average of $17.77 and a 200-day moving average of $17.37. The company has a market cap of $648.94 million, a price-to-earnings ratio of -5.31 and a beta of 1.06.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Roth Mkm reissued a “buy” rating and set a $22.00 target price on shares of Orthofix Medical in a report on Wednesday, February 26th. StockNews.com upgraded shares of Orthofix Medical from a “hold” rating to a “buy” rating in a research note on Tuesday, February 25th. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $24.00 target price on shares of Orthofix Medical in a research note on Wednesday, February 26th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $23.33.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Lazard Asset Management LLC bought a new stake in shares of Orthofix Medical during the fourth quarter valued at approximately $45,000. R Squared Ltd acquired a new stake in Orthofix Medical in the 4th quarter valued at approximately $50,000. KLP Kapitalforvaltning AS bought a new stake in Orthofix Medical during the 4th quarter valued at $112,000. Tower Research Capital LLC TRC boosted its position in Orthofix Medical by 120.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 8,458 shares of the medical device company’s stock worth $148,000 after acquiring an additional 4,627 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Orthofix Medical by 5.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,994 shares of the medical device company’s stock worth $156,000 after purchasing an additional 559 shares in the last quarter. 89.76% of the stock is owned by institutional investors and hedge funds.

Orthofix Medical Company Profile

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.