Global Strategic Investment Solutions LLC Invests $529,000 in Orthofix Medical Inc. $OFIX

Global Strategic Investment Solutions LLC acquired a new stake in shares of Orthofix Medical Inc. (NASDAQ:OFIX) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 57,875 shares of the medical device company’s stock, valued at approximately $529,000. Global Strategic Investment Solutions LLC owned about 0.14% of Orthofix Medical at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Engine Capital Management LP lifted its position in Orthofix Medical by 3.2% during the 1st quarter. Engine Capital Management LP now owns 4,390,779 shares of the medical device company’s stock worth $50,362,000 after acquiring an additional 137,858 shares during the period. Rubric Capital Management LP increased its holdings in shares of Orthofix Medical by 0.7% in the second quarter. Rubric Capital Management LP now owns 3,721,715 shares of the medical device company’s stock valued at $41,497,000 after purchasing an additional 26,769 shares during the period. Juniper Investment Company LLC raised its stake in shares of Orthofix Medical by 23.3% in the fourth quarter. Juniper Investment Company LLC now owns 3,510,333 shares of the medical device company’s stock worth $53,217,000 after purchasing an additional 663,278 shares during the last quarter. Paradigm Capital Management Inc. NY raised its stake in shares of Orthofix Medical by 34.6% in the second quarter. Paradigm Capital Management Inc. NY now owns 3,340,600 shares of the medical device company’s stock worth $37,248,000 after purchasing an additional 858,900 shares during the last quarter. Finally, BlackRock Inc. acquired a new stake in shares of Orthofix Medical during the second quarter worth about $30,405,000. 89.76% of the stock is owned by institutional investors and hedge funds.

Orthofix Medical Stock Performance

NASDAQ OFIX opened at $10.22 on Wednesday. The stock has a market capitalization of $416.26 million, a price-to-earnings ratio of -6.64 and a beta of 0.68. Orthofix Medical Inc. has a twelve month low of $8.85 and a twelve month high of $16.99. The company has a current ratio of 2.84, a quick ratio of 1.67 and a debt-to-equity ratio of 0.55. The stock has a 50-day moving average of $10.58 and a 200 day moving average of $11.54.

Orthofix Medical (NASDAQ:OFIX) last issued its quarterly earnings data on Wednesday, August 5th. The medical device company reported ($0.39) EPS for the quarter, beating the consensus estimate of ($0.41) by $0.02. The company had revenue of $210.93 million for the quarter, compared to analyst estimates of $209.28 million. Orthofix Medical had a negative return on equity of 14.05% and a negative net margin of 7.41%. Sell-side analysts anticipate that Orthofix Medical Inc. will post -1.29 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. TD Cowen reiterated a “hold” rating on shares of Orthofix Medical in a research report on Thursday, May 21st. Canaccord Genuity Group reduced their price target on shares of Orthofix Medical from $18.00 to $13.00 and set a “buy” rating for the company in a research report on Monday, August 10th. Barrington Research lifted their price objective on shares of Orthofix Medical from $15.00 to $17.00 and gave the company an “outperform” rating in a research note on Monday, July 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Orthofix Medical in a report on Friday, July 17th. Finally, Wall Street Zen lowered shares of Orthofix Medical from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $14.75.

Insider Activity

In other news, insider Aviva Mcpherron sold 3,670 shares of the stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $9.38, for a total transaction of $34,424.60. Following the transaction, the insider owned 66,330 shares in the company, valued at $622,175.40. This trade represents a 5.24% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 2.70% of the stock is owned by company insiders.

Orthofix Medical Profile

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.