Panagora Asset Management Inc. grew its stake in Orthofix Medical Inc (NASDAQ:OFIX) by 11.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,362 shares of the medical device company’s stock after buying an additional 540 shares during the quarter. Panagora Asset Management Inc.’s holdings in Orthofix Medical were worth $284,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of OFIX. Victory Capital Management Inc. grew its position in shares of Orthofix Medical by 26.3% during the first quarter. Victory Capital Management Inc. now owns 411,688 shares of the medical device company’s stock worth $23,223,000 after purchasing an additional 85,625 shares in the last quarter. Federated Investors Inc. PA lifted its position in Orthofix Medical by 40.7% during the 1st quarter. Federated Investors Inc. PA now owns 171,844 shares of the medical device company’s stock worth $9,694,000 after acquiring an additional 49,675 shares during the period. THB Asset Management acquired a new position in shares of Orthofix Medical in the 1st quarter valued at about $2,323,000. Jacobs Levy Equity Management Inc. lifted its holdings in shares of Orthofix Medical by 32.3% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 153,754 shares of the medical device company’s stock valued at $8,673,000 after buying an additional 37,540 shares during the period. Finally, Marshall Wace LLP raised its holdings in Orthofix Medical by 18.4% in the 1st quarter. Marshall Wace LLP now owns 153,585 shares of the medical device company’s stock worth $8,664,000 after purchasing an additional 23,865 shares during the period. Institutional investors and hedge funds own 94.36% of the company’s stock.
Shares of NASDAQ OFIX traded down $0.06 during mid-day trading on Friday, hitting $51.83. The company had a trading volume of 768 shares, compared to its average volume of 79,280. The company has a market capitalization of $967.98 million, a PE ratio of 26.43, a price-to-earnings-growth ratio of 2.87 and a beta of 0.43. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.42 and a quick ratio of 2.26. Orthofix Medical Inc has a 1-year low of $47.79 and a 1-year high of $74.44. The business’s 50-day simple moving average is $51.59 and its 200 day simple moving average is $53.28.
Orthofix Medical (NASDAQ:OFIX) last issued its quarterly earnings data on Monday, August 5th. The medical device company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.12). The firm had revenue of $115.85 million for the quarter, compared to analysts’ expectations of $115.17 million. Orthofix Medical had a return on equity of 9.50% and a net margin of 1.75%. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.42 EPS. On average, analysts expect that Orthofix Medical Inc will post 1.77 EPS for the current year.
Several equities research analysts have commented on OFIX shares. Zacks Investment Research lowered Orthofix Medical from a “buy” rating to a “hold” rating in a research report on Friday, August 9th. ValuEngine lowered Orthofix Medical from a “buy” rating to a “hold” rating in a research report on Saturday, May 18th. Finally, BidaskClub cut Orthofix Medical from a “hold” rating to a “sell” rating in a research note on Friday, September 6th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $59.50.
In related news, CEO Brad Mason sold 5,805 shares of Orthofix Medical stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $50.97, for a total value of $295,880.85. Following the sale, the chief executive officer now owns 165,041 shares of the company’s stock, valued at approximately $8,412,139.77. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 5.80% of the stock is currently 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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