Armistice Capital LLC Has $40.14 Million Position in Orthofix Medical Inc. $OFIX

Armistice Capital LLC increased its position in Orthofix Medical Inc. (NASDAQ:OFIX) by 18.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,648,000 shares of the medical device company’s stock after buying an additional 412,000 shares during the quarter. Orthofix Medical accounts for approximately 0.5% of Armistice Capital LLC’s investment portfolio, making the stock its 29th largest position. Armistice Capital LLC owned approximately 0.07% of Orthofix Medical worth $40,144,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in OFIX. AQR Capital Management LLC increased its stake in shares of Orthofix Medical by 67.7% in the first quarter. AQR Capital Management LLC now owns 20,409 shares of the medical device company’s stock valued at $333,000 after buying an additional 8,241 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Orthofix Medical by 6.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,561 shares of the medical device company’s stock valued at $335,000 after buying an additional 1,213 shares during the period. Jane Street Group LLC acquired a new position in shares of Orthofix Medical in the first quarter valued at approximately $1,076,000. Strs Ohio acquired a new position in shares of Orthofix Medical in the first quarter valued at approximately $150,000. Finally, JPMorgan Chase & Co. increased its stake in shares of Orthofix Medical by 15.6% in the second quarter. JPMorgan Chase & Co. now owns 193,549 shares of the medical device company’s stock valued at $2,158,000 after buying an additional 26,123 shares during the period. Institutional investors and hedge funds own 89.76% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on OFIX shares. Canaccord Genuity Group lowered their price objective on Orthofix Medical from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Thursday, May 21st. Wall Street Zen downgraded Orthofix Medical from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. TD Cowen reaffirmed a “hold” rating on shares of Orthofix Medical in a research note on Thursday, May 21st. Barrington Research reduced their target price on Orthofix Medical from $17.00 to $15.00 and set an “outperform” rating on the stock in a report on Friday, May 22nd. Finally, Stifel Nicolaus reduced their target price on Orthofix Medical from $18.00 to $15.00 and set a “buy” rating on the stock in a report on Friday, May 22nd. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $15.50.

Insiders Place Their Bets

In other Orthofix Medical news, major shareholder Engine Capital Management, Lp purchased 112,950 shares of the business’s 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 acquisition, the insider owned 3,783,131 shares of the company’s stock, valued at approximately $45,359,740.69. This represents a 3.08% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jorge Andres Cedron sold 3,743 shares of the stock in a transaction that occurred on Thursday, April 16th. The stock was sold at an average price of $12.82, for a total value of $47,985.26. Following the transaction, the insider owned 59,006 shares in the company, valued at $756,456.92. The trade was a 5.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have acquired 189,896 shares of company stock worth $2,293,970. Corporate insiders own 2.70% of the company’s stock.

Orthofix Medical Stock Performance

Shares of OFIX stock opened at $9.23 on Thursday. The business’s 50 day simple moving average is $11.22 and its 200 day simple moving average is $12.88. Orthofix Medical Inc. has a one year low of $9.12 and a one year high of $16.99. The stock has a market capitalization of $373.08 million, a PE ratio of -6.11 and a beta of 0.71. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.87 and a quick ratio of 1.76.

Orthofix Medical (NASDAQ:OFIX) last announced its earnings results on Tuesday, May 5th. The medical device company reported ($0.52) EPS for the quarter, beating the consensus estimate of ($0.68) by $0.16. Orthofix Medical had a negative return on equity of 13.44% and a negative net margin of 7.27%.The business had revenue of $196.71 million for the quarter, compared to analysts’ expectations of $196.40 million. As a group, research analysts forecast that Orthofix Medical Inc. will post -1.48 earnings per share for the current year.

Orthofix Medical Company Profile

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.