AREX Capital Management LP Reduces Stock Position in Orthofix Medical Inc. (NASDAQ:OFIX)

AREX Capital Management LP trimmed its stake in shares of Orthofix Medical Inc. (NASDAQ:OFIX) by 42.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 100,000 shares of the medical device company’s stock after selling 74,500 shares during the quarter. Orthofix Medical comprises approximately 2.5% of AREX Capital Management LP’s investment portfolio, making the stock its 8th biggest position. AREX Capital Management LP owned about 0.26% of Orthofix Medical worth $1,746,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Orthofix Medical by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 2,126,785 shares of the medical device company’s stock worth $37,134,000 after purchasing an additional 12,286 shares during the last quarter. Geode Capital Management LLC increased its position in Orthofix Medical by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 841,637 shares of the medical device company’s stock worth $14,699,000 after buying an additional 2,448 shares during the period. Emerald Advisers LLC lifted its holdings in shares of Orthofix Medical by 12.2% during the fourth quarter. Emerald Advisers LLC now owns 822,377 shares of the medical device company’s stock worth $14,359,000 after buying an additional 89,717 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Orthofix Medical by 31.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 659,475 shares of the medical device company’s stock valued at $11,515,000 after acquiring an additional 159,177 shares during the period. Finally, Emerald Mutual Fund Advisers Trust grew its stake in shares of Orthofix Medical by 35.4% in the fourth quarter. Emerald Mutual Fund Advisers Trust now owns 503,802 shares of the medical device company’s stock valued at $8,796,000 after acquiring an additional 131,653 shares in the last quarter. 89.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Orthofix Medical

In other Orthofix Medical news, insider Jorge Andres Cedron sold 3,816 shares of Orthofix Medical stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $13.31, for a total value of $50,790.96. Following the transaction, the insider now owns 42,500 shares in the company, valued at $565,675. The trade was a 8.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Lucas Vitale sold 4,287 shares of the business’s stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $16.60, for a total value of $71,164.20. Following the transaction, the insider now directly owns 135,317 shares of the company’s stock, valued at approximately $2,246,262.20. The trade was a 3.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,242 shares of company stock valued at $141,710 over the last three months. 2.60% of the stock is owned by insiders.

Orthofix Medical Price Performance

OFIX stock opened at $13.79 on Friday. The company’s 50-day moving average price is $15.34 and its two-hundred day moving average price is $17.03. The firm has a market cap of $538.11 million, a P/E ratio of -4.41 and a beta of 0.99. The company has a quick ratio of 1.11, a current ratio of 2.39 and a debt-to-equity ratio of 0.25. Orthofix Medical Inc. has a 12 month low of $12.08 and a 12 month high of $20.73.

Analysts Set New Price Targets

A number of research firms have issued reports on OFIX. Roth Mkm reissued a “buy” rating and issued a $22.00 price objective on shares of Orthofix Medical in a report on Wednesday, February 26th. StockNews.com upgraded Orthofix Medical from a “hold” rating to a “buy” rating in a research note on Tuesday, February 25th. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $24.00 price target on shares of Orthofix Medical in a research report on Wednesday, February 26th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $23.33.

Orthofix Medical Profile

Orthofix Medical Inc operates as a spine and orthopedics company in the United States, Italy, Germany, the United Kingdom, France, Brazil, and internationally. It operates through two segments, Global Spine and Global Orthopedics. The Global Spine segment manufactures and distributes bone growth stimulator devices for enhance of bone fusion, including adjunctive and noninvasive treatment of cervical and lumbar spine, as well as a therapeutic treatment for non-spine; designs, develops, and markets a portfolio of motion preservation and fixation implant products, which are used in surgical procedures of the spine; and offers biological products, such as fiber-based and particulate demineralized bone matrices, cellular bone allografts, collagen ceramic matrices, and synthetic bone void fillers, and tissue forms, which allow physicians to treat various spinal and orthopedic conditions.