Orthofix Medical Inc. $OFIX Shares Acquired by Engine Capital Management LP

Engine Capital Management LP boosted its position in shares of Orthofix Medical Inc. (NASDAQ:OFIX) by 3.2% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 4,390,779 shares of the medical device company’s stock after buying an additional 137,858 shares during the period. Orthofix Medical accounts for 6.1% of Engine Capital Management LP’s investment portfolio, making the stock its 7th largest position. Engine Capital Management LP owned about 0.11% of Orthofix Medical worth $50,362,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of OFIX. Kestra Advisory Services LLC bought a new stake in Orthofix Medical in the fourth quarter worth about $56,000. CWM LLC lifted its holdings in Orthofix Medical by 136.4% in the 4th quarter. CWM LLC now owns 4,538 shares of the medical device company’s stock valued at $69,000 after acquiring an additional 2,618 shares during the last quarter. Strs Ohio bought a new position in shares of Orthofix Medical during the 1st quarter valued at about $150,000. Mackenzie Financial Corp acquired a new position in shares of Orthofix Medical in the 3rd quarter worth approximately $148,000. Finally, Diversified Trust Co. bought a new stake in shares of Orthofix Medical in the 4th quarter worth approximately $159,000. 89.76% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently commented on OFIX shares. Canaccord Genuity Group cut their target price on shares of Orthofix Medical from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Thursday, May 21st. Stifel Nicolaus decreased their price target on shares of Orthofix Medical from $18.00 to $15.00 and set a “buy” rating on the stock in a research report on Friday, May 22nd. Barrington Research increased their price objective on Orthofix Medical from $15.00 to $17.00 and gave the company an “outperform” rating in a research report on Monday, July 6th. TD Cowen reissued a “hold” rating on shares of Orthofix Medical in a research note on Thursday, May 21st. Finally, Wall Street Zen cut Orthofix Medical from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $16.00.

Orthofix Medical Price Performance

OFIX stock opened at $11.90 on Tuesday. Orthofix Medical Inc. has a one year low of $8.85 and a one year high of $16.99. The firm has a 50-day moving average of $10.32 and a two-hundred day moving average of $11.91. The firm has a market capitalization of $481.00 million, a PE ratio of -7.88 and a beta of 0.71. The company has a current ratio of 2.87, a quick ratio of 1.76 and a debt-to-equity ratio of 0.54.

Orthofix Medical (NASDAQ:OFIX) last released its earnings results on Tuesday, May 5th. The medical device company reported ($0.52) earnings per share for the quarter, topping the consensus estimate of ($0.68) by $0.16. Orthofix Medical had a negative net margin of 7.27% and a negative return on equity of 13.44%. The business had revenue of $196.71 million for the quarter, compared to the consensus estimate of $196.40 million. On average, analysts forecast that Orthofix Medical Inc. will post -1.4 earnings per share for the current year.

Insiders Place Their Bets

In other news, major shareholder Engine Capital Management, Lp acquired 112,950 shares of the stock in a transaction on Tuesday, May 5th. The shares were purchased at an average cost of $11.99 per share, for a total transaction of $1,354,270.50. Following the transaction, the insider owned 3,783,131 shares in the company, valued at approximately $45,359,740.69. This trade represents a 3.08% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John B. Henneman III bought 5,000 shares of the business’s stock in a transaction on Thursday, May 7th. The shares were purchased at an average cost of $12.26 per share, for a total transaction of $61,300.00. Following the completion of the purchase, the director owned 90,809 shares in the company, valued at approximately $1,113,318.34. This trade represents a 5.83% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders have bought 189,896 shares of company stock worth $2,293,970. Corporate insiders own 2.70% of the company’s stock.

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.