Tudor Investment Corp ET AL Boosts Stock Position in Orthofix Medical Inc. $OFIX

Tudor Investment Corp ET AL raised its position in shares of Orthofix Medical Inc. (NASDAQ:OFIX) by 268.8% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 217,044 shares of the medical device company’s stock after buying an additional 158,197 shares during the period. Tudor Investment Corp ET AL’s holdings in Orthofix Medical were worth $3,178,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. CWM LLC grew its holdings in Orthofix Medical by 99.0% in the third quarter. CWM LLC now owns 1,920 shares of the medical device company’s stock worth $28,000 after purchasing an additional 955 shares during the last quarter. State of Alaska Department of Revenue purchased a new position in Orthofix Medical during the 3rd quarter worth $30,000. Mackenzie Financial Corp acquired a new position in Orthofix Medical during the 3rd quarter valued at about $148,000. Strs Ohio purchased a new stake in Orthofix Medical in the first quarter valued at about $150,000. Finally, The Manufacturers Life Insurance Company boosted its holdings in Orthofix Medical by 21.1% in the second quarter. The Manufacturers Life Insurance Company now owns 14,867 shares of the medical device company’s stock worth $166,000 after acquiring an additional 2,589 shares in the last quarter. Hedge funds and other institutional investors own 89.76% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Stifel Nicolaus decreased their price objective on shares of Orthofix Medical from $22.00 to $18.00 and set a “buy” rating for the company in a research report on Monday, March 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Orthofix Medical in a research note on Thursday, January 22nd. TD Cowen assumed coverage on shares of Orthofix Medical in a research note on Tuesday, January 27th. They set a “hold” rating and a $14.00 price objective for the company. Canaccord Genuity Group dropped their price objective on shares of Orthofix Medical from $24.00 to $20.00 and set a “buy” rating on the stock in a report on Thursday, February 26th. Finally, Wall Street Zen raised Orthofix Medical from a “hold” rating to a “buy” rating in a research report on Saturday, March 7th. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Orthofix Medical has a consensus rating of “Hold” and a consensus target price of $17.25.

Orthofix Medical Stock Performance

NASDAQ OFIX opened at $11.79 on Friday. Orthofix Medical Inc. has a fifty-two week low of $10.24 and a fifty-two week high of $16.99. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.43 and a current ratio of 2.45. The firm has a market capitalization of $473.30 million, a P/E ratio of -5.04 and a beta of 0.75. The stock has a 50-day simple moving average of $12.93 and a two-hundred day simple moving average of $14.39.

Orthofix Medical (NASDAQ:OFIX) last announced its quarterly 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). The company had revenue of $219.91 million for the quarter, compared to analysts’ expectations of $218.72 million. Orthofix Medical had a negative net margin of 11.21% and a negative return on equity of 20.38%. On average, equities analysts forecast that Orthofix Medical Inc. will post -2.81 earnings per share for the current year.

Insider Activity

In other news, major shareholder Engine Capital Management, Lp acquired 124,797 shares of the firm’s stock in a transaction on Tuesday, February 24th. The stock was acquired at an average price of $12.55 per share, for a total transaction of $1,566,202.35. Following the completion of the transaction, the insider owned 3,663,133 shares in the company, valued at approximately $45,972,319.15. The trade was a 3.53% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Massimo Calafiore sold 9,797 shares of the stock in a transaction dated Monday, January 12th. The stock was sold at an average price of $15.21, for a total transaction of $149,012.37. Following the sale, the chief executive officer directly owned 217,237 shares in the company, valued at approximately $3,304,174.77. The trade was a 4.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 28,539 shares of company stock worth $421,845 over the last three months. Corporate insiders own 1.30% 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.