Orthofix Medical (NASDAQ:OFIX) Major Shareholder Buys $169,270.56 in Stock

Orthofix Medical Inc. (NASDAQ:OFIX) major shareholder Engine Capital Management, Lp bought 13,061 shares of Orthofix Medical stock in a transaction on Wednesday, February 25th. The stock was acquired at an average price of $12.96 per share, for a total transaction of $169,270.56. Following the purchase, the insider owned 3,673,092 shares of the company’s stock, valued at approximately $47,603,272.32. This trade represents a 0.36% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Engine Capital Management, Lp also recently made the following trade(s):

• On Tuesday, February 24th, Engine Capital Management, Lp bought 124,797 shares of Orthofix Medical stock. The shares were bought at an average cost of $12.55 per share, with a total value of $1,566,202.35.

Orthofix Medical Trading Up 1.0%

OFIX stock traded up $0.13 during trading on Thursday, hitting $13.17. The company had a trading volume of 337,479 shares, compared to its average volume of 243,628. Orthofix Medical Inc. has a 52-week low of $10.24 and a 52-week high of $18.66. The company has a 50 day simple moving average of $14.17 and a 200-day simple moving average of $14.71. The firm has a market capitalization of $521.53 million, a P/E ratio of -5.63 and a beta of 0.78. The company has a quick ratio of 1.38, a current ratio of 2.45 and a debt-to-equity ratio of 0.39.

Orthofix Medical (NASDAQ:OFIX) last issued its earnings results on Tuesday, February 24th. The medical device company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.50). Orthofix Medical had a negative return on equity of 20.38% and a negative net margin of 11.21%.The company had revenue of $219.91 million during the quarter, compared to the consensus estimate of $218.72 million. As a group, research analysts forecast that Orthofix Medical Inc. will post -2.81 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in OFIX. CWM LLC raised its stake in shares of Orthofix Medical by 99.0% during the 3rd quarter. CWM LLC now owns 1,920 shares of the medical device company’s stock worth $28,000 after buying an additional 955 shares in the last quarter. Gabelli Funds LLC raised its position in Orthofix Medical by 0.4% in the fourth quarter. Gabelli Funds LLC now owns 235,303 shares of the medical device company’s stock worth $3,567,000 after acquiring an additional 1,000 shares in the last quarter. Raymond James Financial Inc. lifted its holdings in Orthofix Medical by 1.5% in the third quarter. Raymond James Financial Inc. now owns 66,812 shares of the medical device company’s stock valued at $978,000 after acquiring an additional 1,000 shares during the period. Amundi grew its stake in shares of Orthofix Medical by 2.7% during the 4th quarter. Amundi now owns 41,527 shares of the medical device company’s stock worth $630,000 after purchasing an additional 1,086 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Orthofix Medical by 6.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,561 shares of the medical device company’s stock worth $335,000 after purchasing an additional 1,213 shares during the period. 89.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on OFIX shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Orthofix Medical in a research note on Thursday, January 22nd. Barrington Research lowered their price target on shares of Orthofix Medical from $18.00 to $17.00 and set an “outperform” rating for the company in a research report on Wednesday. TD Cowen began coverage on shares of Orthofix Medical in a research note on Tuesday, January 27th. They issued a “hold” rating and a $14.00 price objective for the company. Finally, Canaccord Genuity Group dropped their target price on Orthofix Medical from $24.00 to $20.00 and set a “buy” rating on the stock in a research report on Thursday. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $18.25.

About Orthofix Medical

Orthofix Medical Inc (NASDAQ: OFIX) is a global medical device company focused on the design and development of innovative orthopedic and spinal solutions. The company’s core business is divided into two segments: spine and orthopedics. In the spine segment, Orthofix offers a range of titanium implants, biologics and portable bone growth stimulation devices designed to support spinal fusion, deformity correction and minimally invasive procedures. Its orthopedic segment encompasses products for fracture fixation, external fixation systems, trauma care and sports medicine, providing surgeons with implantable devices and instruments for complex bone reconstruction and healing.

Orthofix’s product portfolio includes strut systems, bone growth stimulators, interbody fusion devices and fixation hardware that address various indications such as degenerative disc disease, spinal deformities, non-unions and long-bone fractures.