Tejara Capital Ltd Takes Position in Orthofix Medical Inc. $OFIX

Tejara Capital Ltd purchased a new position in Orthofix Medical Inc. (NASDAQ:OFIX) during the 2nd quarter, HoldingsChannel.com reports. The firm purchased 58,720 shares of the medical device company’s stock, valued at approximately $537,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of OFIX. BlackRock Inc. bought a new position in Orthofix Medical in the 2nd quarter valued at $30,405,000. Paradigm Capital Management Inc. NY lifted its position in shares of Orthofix Medical by 34.6% during 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. Millennium Management LLC lifted its position in shares of Orthofix Medical by 86.6% during the third quarter. Millennium Management LLC now owns 1,475,718 shares of the medical device company’s stock worth $21,605,000 after purchasing an additional 684,850 shares during the last quarter. Juniper Investment Company LLC boosted its stake in shares of Orthofix Medical by 23.3% during the fourth quarter. Juniper Investment Company LLC now owns 3,510,333 shares of the medical device company’s stock valued at $53,217,000 after purchasing an additional 663,278 shares during the period. Finally, Bank of America Corp DE boosted its stake in shares of Orthofix Medical by 659.5% during the second quarter. Bank of America Corp DE now owns 687,410 shares of the medical device company’s stock valued at $7,665,000 after purchasing an additional 596,907 shares during the period. 89.76% of the stock is owned by institutional investors.

Orthofix Medical Stock Down 4.5%

NASDAQ:OFIX opened at $10.01 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.84 and a quick ratio of 1.67. The firm has a market cap of $407.71 million, a PE ratio of -6.50 and a beta of 0.68. The company has a 50-day moving average of $10.61 and a 200 day moving average of $11.49. Orthofix Medical Inc. has a 1-year low of $8.85 and a 1-year high of $16.99.

Orthofix Medical (NASDAQ:OFIX) last announced its quarterly earnings results on Wednesday, August 5th. The medical device company reported ($0.39) earnings per share for the quarter, topping the consensus estimate of ($0.41) by $0.02. Orthofix Medical had a negative net margin of 7.41% and a negative return on equity of 14.05%. The firm had revenue of $210.93 million during the quarter, compared to analysts’ expectations of $209.28 million. As a group, research analysts anticipate that Orthofix Medical Inc. will post -1.29 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have issued reports on OFIX. TD Cowen reissued a “hold” rating on shares of Orthofix Medical in a research report on Thursday, May 21st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Orthofix Medical in a research report on Friday, July 17th. Wall Street Zen downgraded shares of Orthofix Medical from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Barrington Research boosted their price target on Orthofix Medical from $15.00 to $17.00 and gave the company an “outperform” rating in a report on Monday, July 6th. Finally, Canaccord Genuity Group dropped their price objective on Orthofix Medical from $18.00 to $13.00 and set a “buy” rating on the stock in a research note on Monday, August 10th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $14.75.

Insider Buying and Selling

In other Orthofix Medical news, insider Aviva Mcpherron sold 3,670 shares of the company’s stock in a transaction 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 completion of the sale, the insider owned 66,330 shares in the company, valued at $622,175.40. This represents a 5.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 Company 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.