Great Lakes Advisors LLC Cuts Stock Position in Orthofix Medical Inc. (NASDAQ:OFIX)

Great Lakes Advisors LLC lowered its stake in Orthofix Medical Inc. (NASDAQ:OFIX) by 7.0% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 229,274 shares of the medical device company’s stock after selling 17,283 shares during the period. Great Lakes Advisors LLC owned 0.60% of Orthofix Medical worth $4,003,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in OFIX. GSA Capital Partners LLP purchased a new stake in shares of Orthofix Medical in the 3rd quarter worth approximately $312,000. Victory Capital Management Inc. boosted its stake in Orthofix Medical by 3.3% during the 3rd quarter. Victory Capital Management Inc. now owns 64,807 shares of the medical device company’s stock valued at $1,012,000 after purchasing an additional 2,074 shares during the last quarter. Quest Partners LLC boosted its stake in Orthofix Medical by 187.1% during the 3rd quarter. Quest Partners LLC now owns 13,908 shares of the medical device company’s stock valued at $217,000 after purchasing an additional 9,063 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Orthofix Medical by 17.0% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 34,632 shares of the medical device company’s stock valued at $541,000 after purchasing an additional 5,039 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in 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 valued at $5,073,000 after purchasing an additional 39,901 shares during the last quarter. Hedge funds and other institutional investors own 89.76% of the company’s stock.

Insider Activity

In related news, CEO Massimo Calafiore sold 9,203 shares of the firm’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $17.14, for a total value of $157,739.42. Following the transaction, the chief executive officer now directly owns 124,151 shares of the company’s stock, valued at approximately $2,127,948.14. This trade represents a 6.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Julie Andrews sold 4,655 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief financial officer now directly owns 28,312 shares in the company, valued at approximately $506,501.68. This represents a 14.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 25,442 shares of company stock valued at $436,883 in the last ninety days. 2.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts have commented on the company. Roth Mkm reiterated a “buy” rating and set a $22.00 target price on shares of Orthofix Medical in a research note on Wednesday, February 26th. Canaccord Genuity Group reiterated a “buy” rating and set a $24.00 target price on shares of Orthofix Medical in a research note on Wednesday, February 26th. Finally, StockNews.com upgraded Orthofix Medical from a “hold” rating to a “buy” rating in a research note on Tuesday, February 25th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $23.33.

Orthofix Medical Price Performance

NASDAQ OFIX opened at $16.53 on Friday. The business’s fifty day moving average price is $17.83 and its 200-day moving average price is $17.39. The stock has a market capitalization of $645.03 million, a price-to-earnings ratio of -5.28 and a beta of 1.06. 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 1-year low of $12.08 and a 1-year high of $20.73.

Orthofix Medical Company Profile

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.