Gabelli Funds LLC Has $2.63 Million Position in Orthofix Medical Inc. (NASDAQ:OFIX)

Gabelli Funds LLC trimmed its holdings in Orthofix Medical Inc. (NASDAQ:OFIX) by 3.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 150,500 shares of the medical device company’s stock after selling 6,000 shares during the quarter. Gabelli Funds LLC’s holdings in Orthofix Medical were worth $2,628,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Franklin Resources Inc. lifted its stake in Orthofix Medical by 37.4% in the third quarter. Franklin Resources Inc. now owns 20,960 shares of the medical device company’s stock valued at $337,000 after buying an additional 5,702 shares during the period. Barclays PLC lifted its position in shares of Orthofix Medical by 38.8% during the 3rd quarter. Barclays PLC now owns 122,472 shares of the medical device company’s stock valued at $1,912,000 after acquiring an additional 34,210 shares during the period. Kirr Marbach & Co. LLC IN bought a new position in Orthofix Medical during the fourth quarter worth $532,000. JPMorgan Chase & Co. boosted its stake in Orthofix Medical by 480.7% during the third quarter. JPMorgan Chase & Co. now owns 84,379 shares of the medical device company’s stock worth $1,318,000 after acquiring an additional 69,848 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Orthofix Medical in the fourth quarter worth $1,003,000. Institutional investors own 89.76% of the company’s stock.

Analyst Ratings Changes

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

Insider Transactions at Orthofix Medical

In other news, insider Jorge Andres Cedron sold 3,816 shares of the stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $13.31, for a total transaction of $50,790.96. Following the completion of the transaction, the insider now directly owns 42,500 shares of the company’s stock, valued at $565,675. This represents a 8.24 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Lucas Vitale sold 4,287 shares of the business’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 approximately $2,246,262.20. The trade was a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,242 shares of company stock worth $141,710 in the last quarter. 2.60% of the stock is currently owned by corporate insiders.

Orthofix Medical Stock Up 0.5 %

Shares of NASDAQ:OFIX opened at $13.03 on Friday. The company has a quick ratio of 1.11, a current ratio of 2.39 and a debt-to-equity ratio of 0.25. The business’s 50 day moving average is $16.25 and its 200 day moving average is $17.15. Orthofix Medical Inc. has a 12-month low of $12.08 and a 12-month high of $20.73. The stock has a market cap of $508.46 million, a price-to-earnings ratio of -4.16 and a beta of 0.99.

Orthofix Medical 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.