Insider Buying: Orthofix Medical (NASDAQ:OFIX) Major Shareholder Purchases 13,061 Shares of Stock

Orthofix Medical Inc. (NASDAQ:OFIX) major shareholder Engine Capital Management, Lp bought 13,061 shares of the company’s stock in a transaction on Wednesday, February 25th. The stock was bought at an average cost of $12.96 per share, with a total value of $169,270.56. Following the completion of the acquisition, the insider owned 3,673,092 shares of the company’s stock, valued at $47,603,272.32. This represents a 0.36% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Engine Capital Management, Lp also recently made the following trade(s):

• On Tuesday, February 24th, Engine Capital Management, Lp purchased 124,797 shares of Orthofix Medical stock. The shares were purchased at an average cost of $12.55 per share, for a total transaction of $1,566,202.35.

Orthofix Medical Price Performance

NASDAQ OFIX traded up $0.13 during mid-day trading on Thursday, hitting $13.17. The stock had a trading volume of 337,479 shares, compared to its average volume of 243,628. The company has a 50 day simple moving average of $14.17 and a 200 day simple moving average of $14.71. The company has a market cap of $521.53 million, a price-to-earnings ratio of -5.63 and a beta of 0.78. Orthofix Medical Inc. has a 52-week low of $10.24 and a 52-week high of $18.66. The company has a quick ratio of 1.38, a current ratio of 2.45 and a debt-to-equity ratio of 0.39.

Orthofix Medical (NASDAQ:OFIX) last posted its earnings results on Tuesday, February 24th. The medical device company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.50). Orthofix Medical had a negative net margin of 11.21% and a negative return on equity of 20.38%. The firm had revenue of $219.91 million during the quarter, compared to analyst estimates of $218.72 million. Equities analysts forecast that Orthofix Medical Inc. will post -2.81 EPS for the current fiscal year.

Institutional Investors Weigh In On Orthofix Medical

A number of institutional investors have recently made changes to their positions in OFIX. VARCOV Co. bought a new position in Orthofix Medical during the fourth quarter worth $164,000. Juniper Investment Company LLC raised its holdings in Orthofix Medical by 23.3% during the fourth quarter. Juniper Investment Company LLC now owns 3,510,333 shares of the medical device company’s stock worth $53,217,000 after purchasing an additional 663,278 shares in the last quarter. Engineers Gate Manager LP raised its position in shares of Orthofix Medical by 92.6% during the fourth quarter. Engineers Gate Manager LP now owns 85,101 shares of the medical device company’s stock worth $1,290,000 after purchasing an additional 40,923 shares during the period. Balyasny Asset Management L.P. purchased a new stake in shares of Orthofix Medical during the fourth quarter valued at $238,000. Finally, Armistice Capital LLC lifted its stake in Orthofix Medical by 18.4% during the fourth quarter. Armistice Capital LLC now owns 2,648,000 shares of the medical device company’s stock valued at $40,144,000 after buying an additional 412,000 shares in the last quarter. 89.76% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on OFIX shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Orthofix Medical in a research note on Thursday, January 22nd. TD Cowen started coverage on Orthofix Medical in a research report on Tuesday, January 27th. They set a “hold” rating and a $14.00 price objective for the company. Barrington Research reduced their target price on shares of Orthofix Medical from $18.00 to $17.00 and set an “outperform” rating on the stock in a report on Wednesday. Finally, Canaccord Genuity Group lowered their price target on shares of Orthofix Medical from $24.00 to $20.00 and set a “buy” rating for the company in a report on Thursday. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Orthofix Medical presently has a consensus rating of “Hold” and a consensus target price of $18.25.

About Orthofix Medical

Orthofix Medical Inc (NASDAQ: OFIX) is a global medical device company focused on the design and development of innovative orthopedic and spinal solutions. The company’s core business is divided into two segments: spine and orthopedics. In the spine segment, Orthofix offers a range of titanium implants, biologics and portable bone growth stimulation devices designed to support spinal fusion, deformity correction and minimally invasive procedures. Its orthopedic segment encompasses products for fracture fixation, external fixation systems, trauma care and sports medicine, providing surgeons with implantable devices and instruments for complex bone reconstruction and healing.

Orthofix’s product portfolio includes strut systems, bone growth stimulators, interbody fusion devices and fixation hardware that address various indications such as degenerative disc disease, spinal deformities, non-unions and long-bone fractures.