Mackay Shields LLC lessened its position in shares of Orthofix Medical Inc (NASDAQ:OFIX) by 66.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 23,690 shares of the medical device company’s stock after selling 46,095 shares during the quarter. Mackay Shields LLC’s holdings in Orthofix Medical were worth $1,244,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. raised its stake in shares of Orthofix Medical by 2.1% during the 4th quarter. BlackRock Inc. now owns 2,908,597 shares of the medical device company’s stock valued at $152,673,000 after purchasing an additional 60,189 shares during the period. Vanguard Group Inc. raised its stake in shares of Orthofix Medical by 3.5% during the 3rd quarter. Vanguard Group Inc. now owns 1,879,897 shares of the medical device company’s stock valued at $108,677,000 after purchasing an additional 63,343 shares during the period. Vanguard Group Inc raised its stake in shares of Orthofix Medical by 3.5% during the 3rd quarter. Vanguard Group Inc now owns 1,879,897 shares of the medical device company’s stock valued at $108,677,000 after purchasing an additional 63,343 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Orthofix Medical by 1.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 893,406 shares of the medical device company’s stock valued at $51,648,000 after purchasing an additional 8,721 shares during the period. Finally, Paradice Investment Management LLC raised its stake in shares of Orthofix Medical by 2.8% during the 4th quarter. Paradice Investment Management LLC now owns 387,312 shares of the medical device company’s stock valued at $20,330,000 after purchasing an additional 10,694 shares during the period. 95.27% of the stock is currently owned by hedge funds and other institutional investors.

In other news, CEO Brad Mason sold 5,000 shares of the company’s stock in a transaction dated Tuesday, January 15th. The stock was sold at an average price of $50.13, for a total value of $250,650.00. Following the completion of the transaction, the chief executive officer now directly owns 136,601 shares in the company, valued at approximately $6,847,808.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Davide Bianchi sold 24,400 shares of the company’s stock in a transaction dated Tuesday, February 19th. The stock was sold at an average price of $65.00, for a total value of $1,586,000.00. The disclosure for this sale can be found here. 5.60% of the stock is owned by corporate insiders.

Shares of NASDAQ OFIX opened at $55.84 on Thursday. The stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of 28.49 and a beta of 0.39. Orthofix Medical Inc has a twelve month low of $47.79 and a twelve month high of $74.44.

OFIX has been the topic of a number of research analyst reports. BidaskClub lowered Orthofix Medical from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 5th. Cantor Fitzgerald set a $66.00 target price on Orthofix Medical and gave the stock a “buy” rating in a research note on Tuesday, January 8th. Zacks Investment Research upgraded Orthofix Medical from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a research note on Wednesday, January 16th. BTIG Research restated a “neutral” rating on shares of Orthofix Medical in a research note on Tuesday, February 26th. Finally, ValuEngine lowered Orthofix Medical from a “buy” rating to a “hold” rating in a research note on Tuesday, March 5th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $66.50.

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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.

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Institutional Ownership by Quarter for Orthofix Medical (NASDAQ:OFIX)

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