Great Lakes Advisors LLC Takes Position in Orthofix Medical Inc. $OFIX

Great Lakes Advisors LLC purchased a new position in shares of Orthofix Medical Inc. (NASDAQ:OFIX) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 135,241 shares of the medical device company’s stock, valued at approximately $1,236,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. R Squared Ltd boosted its stake in Orthofix Medical by 7.2% in the first quarter. R Squared Ltd now owns 13,518 shares of the medical device company’s stock valued at $155,000 after buying an additional 904 shares in the last quarter. Gabelli Funds LLC raised its stake in Orthofix Medical by 0.4% during the fourth quarter. Gabelli Funds LLC now owns 235,303 shares of the medical device company’s stock worth $3,567,000 after acquiring an additional 1,000 shares in the last quarter. Raymond James Financial Inc. raised its stake in Orthofix Medical by 1.5% during the third quarter. Raymond James Financial Inc. now owns 66,812 shares of the medical device company’s stock worth $978,000 after acquiring an additional 1,000 shares in the last quarter. Amundi lifted its holdings in shares of Orthofix Medical by 2.7% in the fourth quarter. Amundi now owns 41,527 shares of the medical device company’s stock worth $630,000 after acquiring an additional 1,086 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Orthofix Medical by 6.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,561 shares of the medical device company’s stock worth $335,000 after acquiring an additional 1,213 shares during the last quarter. 89.76% of the stock is currently owned by institutional investors.

Orthofix Medical Stock Performance

Shares of OFIX stock opened at $10.01 on Friday. The business’s 50-day moving average price is $10.62 and its 200-day moving average price is $11.48. Orthofix Medical Inc. has a 12 month low of $8.85 and a 12 month high of $16.99. The firm has a market capitalization of $407.71 million, a price-to-earnings ratio of -6.50 and a beta of 0.68. The company has a current ratio of 2.84, a quick ratio of 1.67 and a debt-to-equity ratio of 0.55.

Orthofix Medical (NASDAQ:OFIX) last issued its quarterly earnings data on Wednesday, August 5th. The medical device company reported ($0.39) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.02. The business had revenue of $210.93 million during 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%. Equities research analysts forecast that Orthofix Medical Inc. will post -1.29 EPS for the current year.

Insiders Place Their Bets

In other Orthofix Medical news, insider Aviva Mcpherron sold 3,670 shares of the company’s stock in a transaction that occurred 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 transaction, the insider directly owned 66,330 shares in the company, valued at approximately $622,175.40. This represents a 5.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on OFIX. Wall Street Zen downgraded shares of Orthofix Medical from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Stifel Nicolaus lowered their price objective on shares of Orthofix Medical from $18.00 to $15.00 and set a “buy” rating for the company in a research report on Friday, May 22nd. TD Cowen reissued a “hold” rating on shares of Orthofix Medical in a research note on Thursday, May 21st. Barrington Research raised their target price on shares of Orthofix Medical from $15.00 to $17.00 and gave the company an “outperform” rating in a research report on Monday, July 6th. Finally, Canaccord Genuity Group decreased their target price 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. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $14.75.

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.