Rhumbline Advisers Trims Position in Orthofix Medical Inc. (NASDAQ:OFIX)

Rhumbline Advisers trimmed its holdings in Orthofix Medical Inc. (NASDAQ:OFIX) by 5.2% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 65,580 shares of the medical device company’s stock after selling 3,564 shares during the period. Rhumbline Advisers owned 0.34% of Orthofix Medical worth $2,630,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in OFIX. Marshall Wace North America L.P. purchased a new stake in shares of Orthofix Medical in the first quarter valued at about $25,000. First Trust Advisors LP raised its holdings in shares of Orthofix Medical by 85.7% in the first quarter. First Trust Advisors LP now owns 48,093 shares of the medical device company’s stock valued at $2,713,000 after buying an additional 22,190 shares during the last quarter. Victory Capital Management Inc. purchased a new stake in shares of Orthofix Medical in the first quarter valued at about $5,110,000. Envestnet Asset Management Inc. purchased a new stake in shares of Orthofix Medical in the first quarter valued at about $354,000. Finally, Alliancebernstein L.P. raised its holdings in shares of Orthofix Medical by 37.8% in the first quarter. Alliancebernstein L.P. now owns 106,794 shares of the medical device company’s stock valued at $4,630,000 after buying an additional 29,320 shares during the last quarter. 95.68% of the stock is owned by institutional investors and hedge funds.

NASDAQ OFIX opened at $38.97 on Tuesday. The stock has a market capitalization of $767.51 million, a P/E ratio of -92.79 and a beta of 1.13. Orthofix Medical Inc. has a 52-week low of $28.32 and a 52-week high of $48.50. The firm has a 50-day moving average price of $40.00 and a 200 day moving average price of $41.68. The company has a quick ratio of 2.17, a current ratio of 3.17 and a debt-to-equity ratio of 0.06.

Orthofix Medical (NASDAQ:OFIX) last posted its quarterly earnings results on Friday, August 6th. The medical device company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.16. Orthofix Medical had a negative net margin of 1.78% and a positive return on equity of 6.82%. The firm had revenue of $121.39 million during the quarter, compared to analysts’ expectations of $109.35 million. On average, equities research analysts expect that Orthofix Medical Inc. will post 0.77 earnings per share for the current fiscal year.

Separately, Zacks Investment Research raised shares of Orthofix Medical from a “hold” rating to a “buy” rating and set a $46.00 price target for the company in a report on Wednesday, August 11th.

Orthofix Medical Company Profile

Orthofix Medical, Inc engages in the provision of medical devices. It operates through the following business segments: Global Spine and Global Extremities. The Global Spine reporting segment offers three primary product categories: Bone Growth Therapies, Spinal Implants, and Biologics. The Bone Growth Therapies product category manufactures, distributes, and provides support services of bone growth stimulator devices that enhance bone fusion.

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Institutional Ownership by Quarter for Orthofix Medical (NASDAQ:OFIX)

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