3,300,499 Shares in Orthofix Medical Inc. $OFIX Purchased by Paradigm Capital Management Inc. NY

Paradigm Capital Management Inc. NY acquired a new position in shares of Orthofix Medical Inc. (NASDAQ:OFIX) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 3,300,499 shares of the medical device company’s stock, valued at approximately $30,167,000. Orthofix Medical accounts for approximately 0.8% of Paradigm Capital Management Inc. NY’s portfolio, making the stock its 24th biggest holding. Paradigm Capital Management Inc. NY owned 8.17% of Orthofix Medical at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of OFIX. Kestra Advisory Services LLC acquired a new position in shares of Orthofix Medical in the 4th quarter valued at about $56,000. CWM LLC lifted its position in shares of Orthofix Medical by 136.4% in the fourth quarter. CWM LLC now owns 4,538 shares of the medical device company’s stock worth $69,000 after purchasing an additional 2,618 shares in the last quarter. Strs Ohio acquired a new stake in shares of Orthofix Medical during the first quarter worth approximately $150,000. Mackenzie Financial Corp acquired a new stake in shares of Orthofix Medical during the third quarter worth approximately $148,000. Finally, VARCOV Co. purchased a new position in Orthofix Medical during the fourth quarter valued at approximately $164,000. Hedge funds and other institutional investors own 89.76% of the company’s stock.

Orthofix Medical Price Performance

NASDAQ OFIX opened at $9.79 on Tuesday. The company has a quick ratio of 1.67, a current ratio of 2.84 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $398.75 million, a PE ratio of -6.36 and a beta of 0.68. Orthofix Medical Inc. has a 12-month low of $8.85 and a 12-month high of $16.99. The company has a 50 day moving average price of $10.63 and a two-hundred day moving average price of $11.45.

Orthofix Medical (NASDAQ:OFIX) last announced its quarterly earnings results on Wednesday, August 5th. The medical device company reported ($0.39) EPS for the quarter, topping 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 net margin of 7.41% and a negative return on equity of 14.05%. As a group, equities analysts predict that Orthofix Medical Inc. will post -1.29 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on OFIX shares. Canaccord Genuity Group dropped their price objective on shares of Orthofix Medical from $18.00 to $13.00 and set a “buy” rating on the stock in a research note on Monday, August 10th. Stifel Nicolaus decreased their target price on shares of Orthofix Medical from $18.00 to $15.00 and set a “buy” rating for the company in a research note on Friday, May 22nd. Barrington Research boosted their price target on shares of Orthofix Medical from $15.00 to $17.00 and gave the company an “outperform” rating in a report on Monday, July 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Orthofix Medical in a research note on Friday, July 17th. Finally, Wall Street Zen lowered Orthofix Medical from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $14.75.

Insider Buying and Selling

In other Orthofix Medical news, insider Aviva Mcpherron sold 3,670 shares of the firm’s stock in a transaction dated 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 directly owned 66,330 shares in the company, valued at $622,175.40. This trade 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 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.