Magnetar Financial LLC Makes New Investment in Orthofix Medical Inc. (NASDAQ:OFIX)

Magnetar Financial LLC purchased a new position in shares of Orthofix Medical Inc. (NASDAQ:OFIX) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 24,469 shares of the medical device company’s stock, valued at approximately $427,000. Magnetar Financial LLC owned 0.06% of Orthofix Medical as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings 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 valued at $156,000 after purchasing an additional 559 shares during the period. Rhumbline Advisers increased its holdings in shares of Orthofix Medical by 1.2% in the fourth quarter. Rhumbline Advisers now owns 54,989 shares of the medical device company’s stock valued at $960,000 after purchasing an additional 661 shares during the period. Swiss National Bank increased its holdings in shares of Orthofix Medical by 2.6% in the fourth quarter. Swiss National Bank now owns 67,600 shares of the medical device company’s stock valued at $1,180,000 after purchasing an additional 1,700 shares during the period. Victory Capital Management Inc. increased its holdings in shares of Orthofix Medical by 2.9% in the fourth quarter. Victory Capital Management Inc. now owns 66,675 shares of the medical device company’s stock valued at $1,164,000 after purchasing an additional 1,868 shares during the period. Finally, R Squared Ltd acquired a new position in shares of Orthofix Medical in the fourth quarter valued at approximately $50,000. Institutional investors and hedge funds own 89.76% of the company’s stock.

Orthofix Medical Stock Down 1.6 %

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

Insiders Place Their Bets

In other news, CFO Julie Andrews sold 4,655 shares of the company’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $17.89, for a total value of $83,277.95. Following the sale, the chief financial officer now directly owns 28,312 shares in the company, valued at $506,501.68. This represents a 14.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Lucas Vitale sold 4,287 shares of the company’s stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $16.60, for a total value of $71,164.20. Following the completion of the sale, the insider now owns 135,317 shares in the company, valued at $2,246,262.20. This represents a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 29,999 shares of company stock worth $512,497. 2.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. StockNews.com raised Orthofix Medical from a “hold” rating to a “buy” rating in a report on Tuesday, February 25th. Canaccord Genuity Group restated a “buy” rating and issued a $24.00 price target on shares of Orthofix Medical in a research note on Wednesday, February 26th. Finally, Roth Mkm restated a “buy” rating and issued a $22.00 price target on shares of Orthofix Medical in a research note on Wednesday, February 26th. 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 company 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.