Bank of New York Mellon Corp Reduces Stake in Orthofix International N.V. (OFIX)
Bank of New York Mellon Corp lowered its position in shares of Orthofix International N.V. (NASDAQ:OFIX) by 4.5% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 216,325 shares of the medical device company’s stock after selling 10,242 shares during the quarter. Bank of New York Mellon Corp owned about 1.19% of Orthofix International worth $10,222,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Pinebridge Investments L.P. lifted its holdings in shares of Orthofix International by 2.3% during the second quarter. Pinebridge Investments L.P. now owns 2,378 shares of the medical device company’s stock worth $111,000 after buying an additional 53 shares in the last quarter. Municipal Employees Retirement System of Michigan acquired a new stake in shares of Orthofix International during the second quarter worth $196,000. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in shares of Orthofix International during the third quarter worth $315,000. BNP Paribas Arbitrage SA lifted its holdings in shares of Orthofix International by 64.3% during the second quarter. BNP Paribas Arbitrage SA now owns 7,651 shares of the medical device company’s stock worth $356,000 after buying an additional 2,995 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. acquired a new stake in shares of Orthofix International during the third quarter worth $371,000. 94.61% of the stock is owned by institutional investors.
In related news, Director Luke T. Faulstick sold 4,800 shares of the firm’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $51.22, for a total value of $245,856.00. Following the transaction, the director now owns 7,729 shares in the company, valued at $395,879.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Bradley V. Niemann sold 5,547 shares of the firm’s stock in a transaction on Monday, December 11th. The stock was sold at an average price of $52.08, for a total value of $288,887.76. Following the completion of the transaction, the insider now owns 34,631 shares in the company, valued at approximately $1,803,582.48. The disclosure for this sale can be found here. Insiders sold 15,347 shares of company stock worth $802,144 in the last 90 days. 5.60% of the stock is owned by company insiders.
Orthofix International N.V. (OFIX) opened at $55.25 on Tuesday. Orthofix International N.V. has a 12-month low of $33.51 and a 12-month high of $56.53. The company has a market capitalization of $1,010.00, a price-to-earnings ratio of 2,762.50, a P/E/G ratio of 2.73 and a beta of 0.14.
Orthofix International (NASDAQ:OFIX) last issued its quarterly earnings results on Monday, October 30th. The medical device company reported $0.42 EPS for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.01. Orthofix International had a return on equity of 10.26% and a net margin of 0.33%. The company had revenue of $105.30 million for the quarter, compared to analysts’ expectations of $100.67 million. During the same quarter last year, the business earned $0.36 earnings per share. Orthofix International’s revenue was up 6.9% on a year-over-year basis. equities analysts forecast that Orthofix International N.V. will post 1.61 earnings per share for the current fiscal year.
A number of equities research analysts have recently weighed in on OFIX shares. Zacks Investment Research downgraded Orthofix International from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 11th. BTIG Research set a $56.00 target price on Orthofix International and gave the stock a “buy” rating in a report on Monday, October 30th. TheStreet downgraded Orthofix International from a “b” rating to a “c+” rating in a report on Tuesday, October 31st. Finally, BidaskClub downgraded Orthofix International from a “hold” rating to a “sell” rating in a report on Thursday, December 14th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Orthofix International presently has an average rating of “Buy” and an average target price of $54.42.
Orthofix International Company Profile
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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