Orthofix Medical Inc. (NASDAQ:OFIX) Major Shareholder Buys $1,231,000.00 in Stock

Orthofix Medical Inc. (NASDAQ:OFIX) major shareholder Engine Capital Management, Lp acquired 100,000 shares of the firm’s stock in a transaction on Wednesday, May 7th. The shares were bought at an average cost of $12.31 per share, with a total value of $1,231,000.00. Following the completion of the acquisition, the insider now directly owns 3,544,807 shares in the company, valued at approximately $43,636,574.17. This represents a 2.90 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Orthofix Medical Stock Performance

Shares of Orthofix Medical stock opened at $12.11 on Friday. The firm has a market capitalization of $472.56 million, a P/E ratio of -3.87 and a beta of 0.87. The company has a current ratio of 2.39, a quick ratio of 1.11 and a debt-to-equity ratio of 0.25. The business’s fifty day simple moving average is $14.86 and its 200 day simple moving average is $16.91. Orthofix Medical Inc. has a 12 month low of $10.50 and a 12 month high of $20.73.

Hedge Funds Weigh In On Orthofix Medical

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Lazard Asset Management LLC bought a new stake in Orthofix Medical in the fourth quarter worth about $45,000. R Squared Ltd purchased a new stake in shares of Orthofix Medical during the 4th quarter worth approximately $50,000. US Bancorp DE raised its holdings in shares of Orthofix Medical by 684.6% in the 1st quarter. US Bancorp DE now owns 5,673 shares of the medical device company’s stock worth $93,000 after purchasing an additional 4,950 shares during the period. KLP Kapitalforvaltning AS purchased a new position in Orthofix Medical in the fourth quarter valued at approximately $112,000. Finally, Tower Research Capital LLC TRC grew its holdings in Orthofix Medical by 120.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 8,458 shares of the medical device company’s stock valued at $148,000 after purchasing an additional 4,627 shares during the period. 89.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on OFIX shares. StockNews.com downgraded Orthofix Medical from a “buy” rating to a “hold” rating in a report on Wednesday. Canaccord Genuity Group reiterated a “buy” rating and issued a $24.00 target price on shares of Orthofix Medical in a research note on Wednesday, February 26th. Finally, Roth Mkm reissued a “buy” rating and set a $22.00 price target on shares of Orthofix Medical in a research report on Wednesday, February 26th.

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.