Synovus Financial Corp purchased a new position in Orthofix Medical Inc (NASDAQ:OFIX) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 13,285 shares of the medical device company’s stock, valued at approximately $699,000.
A number of other institutional investors and hedge funds also recently modified their holdings of OFIX. Marshall Wace North America L.P. bought a new stake in Orthofix Medical in the first quarter worth $25,000. First Trust Advisors LP lifted its position in shares of Orthofix Medical by 85.7% during the first quarter. First Trust Advisors LP now owns 48,093 shares of the medical device company’s stock worth $2,713,000 after purchasing an additional 22,190 shares during the last quarter. Dalton Greiner Hartman Maher & Co. lifted its position in shares of Orthofix Medical by 2.3% during the second quarter. Dalton Greiner Hartman Maher & Co. now owns 205,540 shares of the medical device company’s stock worth $10,869,000 after purchasing an additional 4,717 shares during the last quarter. Bessemer Group Inc. lifted its position in shares of Orthofix Medical by 6.2% during the second quarter. Bessemer Group Inc. now owns 46,600 shares of the medical device company’s stock worth $2,464,000 after purchasing an additional 2,700 shares during the last quarter. Finally, Strs Ohio lifted its position in shares of Orthofix Medical by 1.4% during the second quarter. Strs Ohio now owns 14,600 shares of the medical device company’s stock worth $772,000 after purchasing an additional 200 shares during the last quarter. Institutional investors own 95.20% of the company’s stock.
Shares of Orthofix Medical stock opened at $44.58 on Friday. Orthofix Medical Inc has a 12 month low of $39.75 and a 12 month high of $74.44. The firm has a market cap of $859.76 million, a P/E ratio of 22.74, a P/E/G ratio of 2.96 and a beta of 0.38. The company has a current ratio of 2.69, a quick ratio of 1.77 and a debt-to-equity ratio of 0.07. The stock’s fifty day moving average price is $49.93 and its 200-day moving average price is $51.47.
Orthofix Medical (NASDAQ:OFIX) last issued its quarterly earnings results on Monday, October 28th. The medical device company reported $0.41 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.51 by ($0.10). Orthofix Medical had a positive return on equity of 9.16% and a negative net margin of 6.81%. The business had revenue of $113.50 million for the quarter, compared to analysts’ expectations of $117.83 million. During the same quarter in the previous year, the firm posted $0.44 EPS. Orthofix Medical’s revenue was up 1.6% on a year-over-year basis. Analysts forecast that Orthofix Medical Inc will post 1.53 earnings per share for the current year.
In other news, Director Ronald A. Matricaria bought 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 31st. The stock was purchased at an average price of $42.27 per share, with a total value of $845,400.00. Following the completion of the acquisition, the director now directly owns 133,800 shares of the company’s stock, valued at approximately $5,655,726. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Brad Mason sold 5,805 shares of Orthofix Medical stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $50.97, for a total value of $295,880.85. Following the sale, the chief executive officer now directly owns 165,041 shares of the company’s stock, valued at approximately $8,412,139.77. The disclosure for this sale can be found here. Insiders own 5.80% of the company’s stock.
Several brokerages have recently commented on OFIX. Zacks Investment Research lowered Orthofix Medical from a “hold” rating to a “sell” rating in a research note on Friday, November 1st. BidaskClub lowered Orthofix Medical from a “hold” rating to a “sell” rating in a research note on Wednesday, October 30th. Finally, Cantor Fitzgerald lowered Orthofix Medical from an “overweight” rating to a “neutral” rating and cut their price target for the company from $71.00 to $48.00 in a research note on Tuesday, October 29th. Two equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the company. The company has a consensus rating of “Hold” and an average price target of $53.50.
Orthofix Medical Company Profile
Orthofix Medical Inc, a medical device company, provides musculoskeletal healing products and therapies worldwide. It operates through four segments: Bone Growth Therapies, Spinal Implants, Biologics, and Orthofix Extremities. The Bone Growth Therapies segment manufactures, distributes, and provides support services for bone growth stimulator devices that enhance bone fusion and are indicated as treatment to enhance fusion success rates in cervical and lumbar spine, as well as a therapeutic treatment for non-spinal appendicular fractures.
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