42,954 Shares in Orthofix Medical Inc. $OFIX Bought by Palumbo Wealth Management LLC

Palumbo Wealth Management LLC purchased a new stake in shares of Orthofix Medical Inc. (NASDAQ:OFIX) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 42,954 shares of the medical device company’s stock, valued at approximately $629,000. Palumbo Wealth Management LLC owned 0.11% of Orthofix Medical as of its most recent SEC filing.

Several other large investors have also made changes to their positions in OFIX. Monaco Asset Management SAM boosted its stake in shares of Orthofix Medical by 3.0% in the third quarter. Monaco Asset Management SAM now owns 58,059 shares of the medical device company’s stock worth $850,000 after acquiring an additional 1,690 shares during the period. Bastion Asset Management Inc. boosted its stake in Orthofix Medical by 81.9% in the 3rd quarter. Bastion Asset Management Inc. now owns 57,111 shares of the medical device company’s stock worth $822,000 after purchasing an additional 25,712 shares during the period. JPMorgan Chase & Co. grew its holdings in Orthofix Medical by 33.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 258,035 shares of the medical device company’s stock valued at $3,778,000 after buying an additional 64,486 shares in the last quarter. Rhumbline Advisers raised its position in shares of Orthofix Medical by 7.4% during the third quarter. Rhumbline Advisers now owns 66,857 shares of the medical device company’s stock valued at $979,000 after buying an additional 4,616 shares during the last quarter. Finally, Versor Investments LP raised its position in shares of Orthofix Medical by 60.4% during the third quarter. Versor Investments LP now owns 34,700 shares of the medical device company’s stock valued at $508,000 after buying an additional 13,067 shares during the last quarter. 89.76% of the stock is currently owned by hedge funds and other institutional investors.

Orthofix Medical Stock Down 2.0%

Shares of NASDAQ:OFIX opened at $13.59 on Tuesday. The company has a market cap of $538.16 million, a price-to-earnings ratio of -4.49 and a beta of 0.78. Orthofix Medical Inc. has a 12 month low of $10.24 and a 12 month high of $20.48. The company has a current ratio of 2.47, a quick ratio of 1.38 and a debt-to-equity ratio of 0.39. The company has a 50-day moving average price of $14.27 and a 200 day moving average price of $14.72.

Orthofix Medical (NASDAQ:OFIX) last issued its quarterly earnings data on Tuesday, February 24th. The medical device company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.50). Orthofix Medical had a negative return on equity of 25.59% and a negative net margin of 14.56%.The company had revenue of $219.91 million for the quarter, compared to the consensus estimate of $218.72 million. As a group, equities research analysts predict that Orthofix Medical Inc. will post -2.81 earnings per share for the current year.

Analysts Set New Price Targets

OFIX has been the subject of a number of research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Orthofix Medical in a research report on Thursday, January 22nd. Barrington Research reiterated an “outperform” rating and issued a $18.00 price target on shares of Orthofix Medical in a research note on Tuesday, February 17th. Stifel Nicolaus started coverage on shares of Orthofix Medical in a report on Tuesday, October 28th. They set a “buy” rating and a $22.00 price objective for the company. Finally, TD Cowen started coverage on Orthofix Medical in a report on Tuesday, January 27th. They issued a “hold” rating and a $14.00 target price on the stock. Four analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $20.00.

Insider Activity at Orthofix Medical

In related news, CFO Julie Andrews sold 4,873 shares of the stock in a transaction on Friday, January 16th. The stock was sold at an average price of $14.38, for a total transaction of $70,073.74. Following the sale, the chief financial officer owned 58,039 shares in the company, valued at approximately $834,600.82. This represents a 7.75% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Massimo Calafiore sold 9,797 shares of Orthofix Medical stock in a transaction on Monday, January 12th. The stock was sold at an average price of $15.21, for a total transaction of $149,012.37. Following the transaction, the chief executive officer directly owned 217,237 shares of the company’s stock, valued at $3,304,174.77. The trade was a 4.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 24,270 shares of company stock worth $370,958. Corporate insiders own 1.30% of the company’s stock.

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.