Orthofix Medical Inc. (NASDAQ:OFIX) Major Shareholder Engine Capital Management, Lp Purchases 100,000 Shares of Stock

Orthofix Medical Inc. (NASDAQ:OFIX) major shareholder Engine Capital Management, Lp acquired 100,000 shares of the stock in a transaction on Wednesday, May 7th. The shares were bought at an average cost of $12.31 per share, for a total transaction of $1,231,000.00. Following the purchase, the insider now directly owns 3,544,807 shares of the company’s stock, valued at $43,636,574.17. The trade was a 2.90 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Orthofix Medical Stock Up 2.4 %

Shares of OFIX opened at $12.31 on Friday. The company’s 50-day moving average price is $14.96 and its 200 day moving average price is $16.93. Orthofix Medical Inc. has a 12-month low of $10.50 and a 12-month high of $20.73. The company has a current ratio of 2.39, a quick ratio of 1.11 and a debt-to-equity ratio of 0.25. The firm has a market cap of $480.36 million, a P/E ratio of -3.93 and a beta of 0.87.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. 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. StockNews.com downgraded shares of Orthofix Medical from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, Roth Mkm reissued a “buy” rating and issued a $22.00 price target on shares of Orthofix Medical in a research note on Wednesday, February 26th.

Institutional Investors Weigh In On Orthofix Medical

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Lazard Asset Management LLC purchased a new position in shares of Orthofix Medical during the 4th quarter worth approximately $45,000. R Squared Ltd acquired a new position in Orthofix Medical during the fourth quarter worth $50,000. US Bancorp DE lifted its stake in Orthofix Medical by 684.6% during the first quarter. US Bancorp DE now owns 5,673 shares of the medical device company’s stock worth $93,000 after purchasing an additional 4,950 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of Orthofix Medical during the fourth quarter worth $112,000. Finally, Tower Research Capital LLC TRC grew its stake in shares of Orthofix Medical by 120.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 8,458 shares of the medical device company’s stock valued at $148,000 after buying an additional 4,627 shares in the last quarter. 89.76% of the stock is owned by hedge funds and other institutional investors.

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.