Victory Capital Management Inc. boosted its stake in Orthofix Medical Inc (NASDAQ:OFIX) by 26.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 411,688 shares of the medical device company’s stock after purchasing an additional 85,625 shares during the period. Victory Capital Management Inc.’s holdings in Orthofix Medical were worth $23,223,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. PNC Financial Services Group Inc. increased its holdings in Orthofix Medical by 40.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 598 shares of the medical device company’s stock valued at $31,000 after purchasing an additional 172 shares during the period. Legal & General Group Plc grew its holdings in Orthofix Medical by 0.4% during the 4th quarter. Legal & General Group Plc now owns 44,270 shares of the medical device company’s stock worth $2,325,000 after acquiring an additional 180 shares during the period. Arizona State Retirement System grew its holdings in Orthofix Medical by 0.9% during the 1st quarter. Arizona State Retirement System now owns 29,404 shares of the medical device company’s stock worth $1,659,000 after acquiring an additional 266 shares during the period. Thrivent Financial for Lutherans grew its holdings in Orthofix Medical by 2.2% during the 4th quarter. Thrivent Financial for Lutherans now owns 13,490 shares of the medical device company’s stock worth $708,000 after acquiring an additional 296 shares during the period. Finally, Texas Permanent School Fund grew its holdings in Orthofix Medical by 4.1% during the 4th quarter. Texas Permanent School Fund now owns 12,382 shares of the medical device company’s stock worth $650,000 after acquiring an additional 483 shares during the period. Institutional investors and hedge funds own 97.17% of the company’s stock.

A number of analysts have weighed in on the company. Zacks Investment Research downgraded Orthofix Medical from a “buy” rating to a “hold” rating in a report on Tuesday, May 14th. ValuEngine upgraded Orthofix Medical from a “hold” rating to a “buy” rating in a report on Wednesday, May 8th. BidaskClub downgraded Orthofix Medical from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 6th. BTIG Research reiterated a “neutral” rating on shares of Orthofix Medical in a report on Tuesday, February 26th. Finally, TheStreet downgraded Orthofix Medical from a “b+” rating to a “c+” rating in a report on Thursday, May 9th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $60.00.

Shares of Orthofix Medical stock opened at $52.23 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.52 and a quick ratio of 2.28. Orthofix Medical Inc has a 1-year low of $47.79 and a 1-year high of $74.44. The stock has a market cap of $995.82 million, a price-to-earnings ratio of 26.65, a price-to-earnings-growth ratio of 2.94 and a beta of 0.35.

Orthofix Medical (NASDAQ:OFIX) last issued its quarterly earnings results on Monday, May 6th. The medical device company reported $0.27 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.40 by ($0.13). Orthofix Medical had a return on equity of 10.45% and a net margin of 2.09%. The business had revenue of $109.10 million for the quarter, compared to analyst estimates of $110.59 million. During the same quarter in the previous year, the business posted $0.39 earnings per share. The business’s revenue was up .4% on a year-over-year basis. On average, sell-side analysts forecast that Orthofix Medical Inc will post 1.77 earnings per share for the current year.

In other news, insider Davide Bianchi sold 24,400 shares of the stock in a transaction dated Tuesday, February 19th. The shares were sold at an average price of $65.00, for a total transaction of $1,586,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Brad Mason sold 10,668 shares of the stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $53.71, for a total transaction of $572,978.28. Following the transaction, the chief executive officer now directly owns 165,120 shares in the company, valued at approximately $8,868,595.20. The disclosure for this sale can be found here. Insiders have sold a total of 41,017 shares of company stock worth $2,470,408 in the last three months. Insiders own 5.60% of the company’s stock.

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About Orthofix Medical

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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Institutional Ownership by Quarter for Orthofix Medical (NASDAQ:OFIX)

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