Point72 Asia Singapore Pte. Ltd. Makes New $270,000 Investment in Orthofix Medical Inc. (NASDAQ:OFIX)

Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Orthofix Medical Inc. (NASDAQ:OFIX) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 17,295 shares of the medical device company’s stock, valued at approximately $270,000.

A number of other large investors also recently made changes to their positions in OFIX. nVerses Capital LLC bought a new stake in Orthofix Medical in the 2nd quarter valued at $27,000. Quest Partners LLC bought a new stake in shares of Orthofix Medical in the second quarter valued at about $64,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Orthofix Medical by 25.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,435 shares of the medical device company’s stock valued at $125,000 after acquiring an additional 1,919 shares in the last quarter. Arizona State Retirement System bought a new position in Orthofix Medical during the second quarter worth about $139,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Orthofix Medical by 5.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,994 shares of the medical device company’s stock worth $156,000 after purchasing an additional 559 shares in the last quarter. Institutional investors own 89.76% of the company’s stock.

Wall Street Analysts Forecast Growth

OFIX has been the topic of several recent research reports. Stifel Nicolaus raised shares of Orthofix Medical from a “hold” rating to a “buy” rating and raised their target price for the stock from $18.00 to $24.00 in a report on Friday, November 8th. Roth Mkm restated a “buy” rating and set a $22.00 price objective (up previously from $20.00) on shares of Orthofix Medical in a research note on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $23.00.

Orthofix Medical Stock Performance

Shares of Orthofix Medical stock opened at $19.34 on Wednesday. The company has a quick ratio of 1.11, a current ratio of 2.39 and a debt-to-equity ratio of 0.25. The company has a 50 day moving average of $16.99 and a 200-day moving average of $15.85. Orthofix Medical Inc. has a 1-year low of $10.28 and a 1-year high of $20.73.

Orthofix Medical Company 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.