Russell Investments Group Ltd. reduced its stake in shares of Orthofix Medical Inc (NASDAQ:OFIX) by 19.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 104,771 shares of the medical device company’s stock after selling 24,636 shares during the quarter. Russell Investments Group Ltd. owned about 0.55% of Orthofix Medical worth $5,529,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of OFIX. Strs Ohio raised its position in Orthofix Medical by 1.4% during the 2nd quarter. Strs Ohio now owns 14,600 shares of the medical device company’s stock worth $772,000 after buying an additional 200 shares during the last quarter. Piedmont Investment Advisors Inc. grew its position in shares of Orthofix Medical by 5.3% in the first quarter. Piedmont Investment Advisors Inc. now owns 4,717 shares of the medical device company’s stock valued at $266,000 after purchasing an additional 239 shares during the period. Mason Street Advisors LLC grew its position in shares of Orthofix Medical by 4.2% in the first quarter. Mason Street Advisors LLC now owns 6,122 shares of the medical device company’s stock valued at $345,000 after purchasing an additional 246 shares during the period. Marshall Wace North America L.P. acquired a new stake in shares of Orthofix Medical in the first quarter valued at about $25,000. Finally, Texas Permanent School Fund grew its position in shares of Orthofix Medical by 4.5% in the first quarter. Texas Permanent School Fund now owns 12,942 shares of the medical device company’s stock valued at $730,000 after purchasing an additional 560 shares during the period. Institutional investors and hedge funds own 94.36% of the company’s stock.
Several analysts have recently issued reports on OFIX shares. Zacks Investment Research lowered shares of Orthofix Medical from a “buy” rating to a “hold” rating in a research report on Friday, August 9th. ValuEngine downgraded shares of Orthofix Medical from a “buy” rating to a “hold” rating in a research report on Saturday, May 18th. Finally, BidaskClub downgraded shares of Orthofix Medical from a “hold” rating to a “sell” rating in a research report on Friday, September 6th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. Orthofix Medical currently has an average rating of “Hold” and a consensus price target of $59.50.
Shares of Orthofix Medical stock traded down $0.06 during trading on Friday, reaching $51.83. 768 shares of the company’s stock were exchanged, compared to its average volume of 79,280. The company has a market cap of $967.98 million, a P/E ratio of 26.43, a PEG ratio of 2.87 and a beta of 0.43. Orthofix Medical Inc has a 1-year low of $47.79 and a 1-year high of $74.44. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.26 and a current ratio of 3.42. The firm’s 50-day moving average price is $51.59 and its 200 day moving average price is $53.28.
Orthofix Medical (NASDAQ:OFIX) last posted its quarterly earnings results on Monday, August 5th. The medical device company reported $0.28 EPS for the quarter, missing the Zacks’ consensus estimate of $0.40 by ($0.12). The company had revenue of $115.85 million during the quarter, compared to the consensus estimate of $115.17 million. Orthofix Medical had a return on equity of 9.50% and a net margin of 1.75%. Orthofix Medical’s revenue was up 3.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.42 earnings per share. As a group, equities research analysts predict that Orthofix Medical Inc will post 1.77 EPS for the current year.
In other Orthofix Medical news, CEO Brad Mason sold 5,805 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $50.97, for a total transaction of $295,880.85. Following the sale, the chief executive officer now directly owns 165,041 shares of the company’s stock, valued at approximately $8,412,139.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 5.80% of the stock is owned by company insiders.
Orthofix Medical Company Profile
Orthofix Medical Inc, a medical device company, provides musculoskeletal healing products and therapies worldwide. It operates through four segments: Bone Growth Therapies, Spinal Implants, Biologics, and Orthofix Extremities. The Bone Growth Therapies segment manufactures, distributes, and provides support services for bone growth stimulator devices that enhance bone fusion and are indicated as treatment to enhance fusion success rates in cervical and lumbar spine, as well as a therapeutic treatment for non-spinal appendicular fractures.
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