R Squared Ltd Takes $50,000 Position in Orthofix Medical Inc. (NASDAQ:OFIX)

R Squared Ltd bought a new position in shares of Orthofix Medical Inc. (NASDAQ:OFIX) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,850 shares of the medical device company’s stock, valued at approximately $50,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Geode Capital Management LLC lifted its holdings in Orthofix Medical by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 839,189 shares of the medical device company’s stock worth $13,111,000 after buying an additional 11,559 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Orthofix Medical by 14.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 324,807 shares of the medical device company’s stock worth $5,073,000 after acquiring an additional 39,901 shares in the last quarter. Algert Global LLC lifted its stake in Orthofix Medical by 25.6% during the third quarter. Algert Global LLC now owns 214,445 shares of the medical device company’s stock worth $3,350,000 after purchasing an additional 43,753 shares during the last quarter. Marshall Wace LLP acquired a new position in Orthofix Medical in the second quarter valued at approximately $2,193,000. Finally, Barclays PLC increased its stake in Orthofix Medical by 38.8% in the third quarter. Barclays PLC now owns 122,472 shares of the medical device company’s stock valued at $1,912,000 after purchasing an additional 34,210 shares during the last quarter. Institutional investors and hedge funds own 89.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Stifel Nicolaus upgraded shares of Orthofix Medical from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $18.00 to $24.00 in a research report on Friday, November 8th. Canaccord Genuity Group started coverage on shares of Orthofix Medical in a research report on Wednesday, January 22nd. They issued a “buy” rating and a $24.00 price target for the company. Roth Mkm restated a “buy” rating and issued a $22.00 price objective (up previously from $20.00) on shares of Orthofix Medical in a research note on Friday, November 8th. Finally, StockNews.com upgraded Orthofix Medical from a “hold” rating to a “buy” rating in a research report on Friday. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $23.33.

Orthofix Medical Stock Performance

Shares of Orthofix Medical stock opened at $18.33 on Friday. The stock has a market capitalization of $700.39 million, a price-to-earnings ratio of -5.86 and a beta of 1.10. The firm’s fifty day simple moving average is $18.07 and its 200-day simple moving average is $17.08. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.39 and a quick ratio of 1.11. Orthofix Medical Inc. has a 12 month low of $12.08 and a 12 month high of $20.73.

Orthofix Medical (NASDAQ:OFIX) last posted its quarterly earnings data on Thursday, November 7th. The medical device company reported ($0.71) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.57). Orthofix Medical had a negative net margin of 15.18% and a negative return on equity of 21.25%. The business had revenue of $196.61 million during the quarter, compared to analyst estimates of $196.60 million. During the same quarter in the prior year, the firm posted ($0.77) earnings per share. As a group, equities analysts forecast that Orthofix Medical Inc. will post -2.81 earnings per share for the current year.

Insider Buying and Selling at Orthofix Medical

In other news, CEO Massimo Calafiore sold 10,078 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $16.83, for a total value of $169,612.74. Following the transaction, the chief executive officer now owns 133,354 shares of the company’s stock, valued at approximately $2,244,347.82. The trade was a 7.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Julie Andrews sold 4,655 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $17.89, for a total value of $83,277.95. Following the sale, the chief financial officer now owns 28,312 shares of the company’s stock, valued at $506,501.68. This trade represents a 14.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,675 shares of company stock valued at $423,238 in the last ninety days. Insiders own 2.60% of the company’s stock.

About Orthofix Medical

Orthofix Medical Inc operates as a spine and orthopedics company in the United States, Italy, Germany, the United Kingdom, France, Brazil, and internationally. It operates through two segments, Global Spine and Global Orthopedics. The Global Spine segment manufactures and distributes bone growth stimulator devices for enhance of bone fusion, including adjunctive and noninvasive treatment of cervical and lumbar spine, as well as a therapeutic treatment for non-spine; designs, develops, and markets a portfolio of motion preservation and fixation implant products, which are used in surgical procedures of the spine; and offers biological products, such as fiber-based and particulate demineralized bone matrices, cellular bone allografts, collagen ceramic matrices, and synthetic bone void fillers, and tissue forms, which allow physicians to treat various spinal and orthopedic conditions.