Moore Capital Management LP Purchases New Shares in Orthofix Medical Inc. $OFIX

Moore Capital Management LP purchased a new position in Orthofix Medical Inc. (NASDAQ:OFIX) during the second quarter, Holdings Channel.com reports. The firm purchased 85,421 shares of the medical device company’s stock, valued at approximately $781,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of OFIX. BlackRock Inc. purchased a new stake in Orthofix Medical during the second quarter valued at about $30,405,000. Paradigm Capital Management Inc. NY acquired a new position in shares of Orthofix Medical in the second quarter worth about $30,167,000. Millennium Management LLC increased its position in shares of Orthofix Medical by 86.6% in the third quarter. Millennium Management LLC now owns 1,475,718 shares of the medical device company’s stock worth $21,605,000 after acquiring an additional 684,850 shares in the last quarter. Juniper Investment Company LLC increased its position in shares of Orthofix Medical by 23.3% in the fourth quarter. Juniper Investment Company LLC now owns 3,510,333 shares of the medical device company’s stock worth $53,217,000 after acquiring an additional 663,278 shares in the last quarter. Finally, Bank of America Corp DE increased its position in shares of Orthofix Medical by 659.5% in the second quarter. Bank of America Corp DE now owns 687,410 shares of the medical device company’s stock worth $7,665,000 after acquiring an additional 596,907 shares in the last quarter. Institutional investors and hedge funds own 89.76% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Canaccord Genuity Group reduced their price target on shares of Orthofix Medical from $18.00 to $13.00 and set a “buy” rating for the company in a research report on Monday, August 10th. Barrington Research lifted their price objective on shares of Orthofix Medical from $15.00 to $17.00 and gave the stock an “outperform” rating in a research report on Monday, July 6th. Stifel Nicolaus dropped their price target on Orthofix Medical from $18.00 to $15.00 and set a “buy” rating on the stock in a research report on Friday, May 22nd. TD Cowen reiterated a “hold” rating on shares of Orthofix Medical in a research note on Thursday, May 21st. Finally, Weiss Ratings lowered shares of Orthofix Medical from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, August 26th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $14.75.

Insider Activity at Orthofix Medical

In other news, insider Aviva Mcpherron sold 3,670 shares of the business’s stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $9.38, for a total value of $34,424.60. Following the completion of the sale, the insider directly owned 66,330 shares in the company, valued at approximately $622,175.40. The trade was a 5.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 2.70% of the stock is currently owned by corporate insiders.

Orthofix Medical Stock Performance

Shares of NASDAQ OFIX opened at $9.43 on Wednesday. The business’s 50-day simple moving average is $10.67 and its 200-day simple moving average is $11.30. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.67 and a current ratio of 2.84. Orthofix Medical Inc. has a 52 week low of $8.85 and a 52 week high of $16.99. The firm has a market cap of $384.08 million, a price-to-earnings ratio of -6.12 and a beta of 0.65.

Orthofix Medical (NASDAQ:OFIX) last posted its 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. The firm had revenue of $210.93 million during the quarter, compared to analyst estimates of $209.28 million. Orthofix Medical had a negative return on equity of 14.05% and a negative net margin of 7.41%. As a group, equities research analysts expect that Orthofix Medical Inc. will post -1.29 earnings per share for the current fiscal year.

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.