Paradigm Capital Management Inc. NY Purchases Shares of 3,300,499 Orthofix Medical Inc. $OFIX

Paradigm Capital Management Inc. NY purchased a new stake in Orthofix Medical Inc. (NASDAQ:OFIX) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 3,300,499 shares of the medical device company’s stock, valued at approximately $30,167,000. Orthofix Medical accounts for about 0.8% of Paradigm Capital Management Inc. NY’s investment portfolio, making the stock its 24th biggest holding. Paradigm Capital Management Inc. NY owned approximately 0.08% of Orthofix Medical as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Ieq Capital LLC acquired a new position in Orthofix Medical in the 2nd quarter valued at $341,000. Tejara Capital Ltd acquired a new position in Orthofix Medical during the 2nd quarter worth $537,000. Great Lakes Advisors LLC acquired a new position in Orthofix Medical during the 2nd quarter worth $1,236,000. Global Strategic Investment Solutions LLC bought a new stake in Orthofix Medical during the second quarter valued at about $529,000. Finally, BlackRock Inc. bought a new stake in Orthofix Medical during the second quarter valued at about $30,405,000. 89.76% of the stock is currently owned by institutional investors and hedge funds.

Orthofix Medical Stock Down 2.2%

Shares of OFIX opened at $9.79 on Tuesday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.67 and a current ratio of 2.84. The company has a 50-day simple moving average of $10.63 and a 200-day simple moving average of $11.45. Orthofix Medical Inc. has a 52 week low of $8.85 and a 52 week high of $16.99. The firm has a market capitalization of $398.75 million, a P/E ratio of -6.36 and a beta of 0.68.

Orthofix Medical (NASDAQ:OFIX) last released its earnings results on Wednesday, August 5th. The medical device company reported ($0.39) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.02. Orthofix Medical had a negative return on equity of 14.05% and a negative net margin of 7.41%.The business had revenue of $210.93 million for the quarter, compared to the consensus estimate of $209.28 million. On average, equities research analysts expect that Orthofix Medical Inc. will post -1.29 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Wall Street Zen lowered Orthofix Medical from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Weiss Ratings restated a “sell (d-)” rating on shares of Orthofix Medical in a research note on Friday, July 17th. Barrington Research raised their target price on Orthofix Medical from $15.00 to $17.00 and gave the company an “outperform” rating in a report on Monday, July 6th. TD Cowen reaffirmed a “hold” rating on shares of Orthofix Medical in a research report on Thursday, May 21st. Finally, Stifel Nicolaus dropped their price target on Orthofix Medical from $18.00 to $15.00 and set a “buy” rating on the stock in a research report on Friday, May 22nd. 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’s stock. According to data from MarketBeat.com, Orthofix Medical presently has an average rating of “Hold” and a consensus target price of $14.75.

Insider Activity at Orthofix Medical

In other Orthofix Medical news, insider Aviva Mcpherron sold 3,670 shares of the firm’s stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $9.38, for a total value of $34,424.60. Following the completion of the sale, the insider owned 66,330 shares in the company, valued at approximately $622,175.40. This trade represents a 5.24% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 2.70% of the company’s stock.

Orthofix Medical 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.