First Trust Advisors LP reduced its position in shares of Orthofix Medical Inc (NASDAQ:OFIX) by 49.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,066 shares of the medical device company’s stock after selling 6,887 shares during the period. First Trust Advisors LP’s holdings in Orthofix Medical were worth $375,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Nuveen Asset Management LLC purchased a new stake in Orthofix Medical in the 2nd quarter valued at approximately $22,655,000. Dalton Greiner Hartman Maher & Co. grew its holdings in Orthofix Medical by 53.7% during the second quarter. Dalton Greiner Hartman Maher & Co. now owns 302,309 shares of the medical device company’s stock worth $15,986,000 after acquiring an additional 105,575 shares during the period. THB Asset Management grew its holdings in Orthofix Medical by 233.3% during the second quarter. THB Asset Management now owns 137,288 shares of the medical device company’s stock worth $7,259,000 after acquiring an additional 96,097 shares during the period. Oakview Capital Management L.P. raised its position in Orthofix Medical by 26.8% in the second quarter. Oakview Capital Management L.P. now owns 408,157 shares of the medical device company’s stock worth $21,583,000 after acquiring an additional 86,234 shares in the last quarter. Finally, Marshall Wace LLP raised its position in Orthofix Medical by 55.2% in the second quarter. Marshall Wace LLP now owns 238,332 shares of the medical device company’s stock worth $12,603,000 after acquiring an additional 84,747 shares in the last quarter. 94.78% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have commented on the stock. Zacks Investment Research lowered shares of Orthofix Medical from a “hold” rating to a “sell” rating in a research report on Friday, November 1st. BidaskClub cut shares of Orthofix Medical from a “hold” rating to a “sell” rating in a research note on Wednesday, October 30th. Finally, Cantor Fitzgerald downgraded shares of Orthofix Medical from an “overweight” rating to a “neutral” rating and cut their price target for the company from $71.00 to $48.00 in a report on Tuesday, October 29th. Two research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. The company currently has an average rating of “Hold” and an average price target of $53.50.
Shares of OFIX opened at $45.03 on Friday. Orthofix Medical Inc has a twelve month low of $39.75 and a twelve month high of $74.44. The company has a current ratio of 2.69, a quick ratio of 1.77 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $858.05 million, a P/E ratio of 22.97, a PEG ratio of 2.98 and a beta of 0.42. The firm’s 50-day moving average is $46.23 and its two-hundred day moving average is $50.15.
Orthofix Medical (NASDAQ:OFIX) last posted its quarterly earnings results on Monday, October 28th. The medical device company reported $0.41 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.51 by ($0.10). The company had revenue of $113.50 million for the quarter, compared to analyst estimates of $117.83 million. Orthofix Medical had a negative net margin of 6.81% and a positive return on equity of 9.16%. Orthofix Medical’s revenue was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.44 earnings per share. Analysts predict that Orthofix Medical Inc will post 1.53 EPS for the current year.
About Orthofix Medical
Orthofix Medical Inc, a medical device company, provides musculoskeletal healing products and therapies worldwide. It operates through four segments: Bone Growth Therapies, Spinal Implants, Biologics, and Orthofix Extremities. The Bone Growth Therapies segment manufactures, distributes, and provides support services for bone growth stimulator devices that enhance bone fusion and are indicated as treatment to enhance fusion success rates in cervical and lumbar spine, as well as a therapeutic treatment for non-spinal appendicular fractures.
See Also: What is the float in trading stocks?
Want to see what other hedge funds are holding OFIX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Orthofix Medical Inc (NASDAQ:OFIX).
Receive News & Ratings for Orthofix Medical Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Orthofix Medical and related companies with MarketBeat.com's FREE daily email newsletter.