TD Asset Management Inc. cut its holdings in Orthofix Medical Inc (NASDAQ:OFIX) by 2.7% in the 2nd quarter, HoldingsChannel reports. The fund owned 105,800 shares of the medical device company’s stock after selling 2,900 shares during the period. TD Asset Management Inc.’s holdings in Orthofix Medical were worth $5,595,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of OFIX. Victory Capital Management Inc. raised its holdings in Orthofix Medical by 26.3% in the 1st quarter. Victory Capital Management Inc. now owns 411,688 shares of the medical device company’s stock valued at $23,223,000 after acquiring an additional 85,625 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Orthofix Medical during the 1st quarter worth $4,738,000. Federated Investors Inc. PA increased its holdings in shares of Orthofix Medical by 40.7% during the 1st quarter. Federated Investors Inc. PA now owns 171,844 shares of the medical device company’s stock worth $9,694,000 after buying an additional 49,675 shares during the last quarter. THB Asset Management acquired a new stake in shares of Orthofix Medical during the 1st quarter worth $2,323,000. Finally, Jacobs Levy Equity Management Inc. increased its holdings in shares of Orthofix Medical by 32.3% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 153,754 shares of the medical device company’s stock worth $8,673,000 after buying an additional 37,540 shares during the last quarter. Institutional investors own 93.63% of the company’s stock.

OFIX stock opened at $52.18 on Wednesday. The company has a market cap of $975.03 million, a price-to-earnings ratio of 26.65, a PEG ratio of 2.89 and a beta of 0.42. The company has a quick ratio of 2.26, a current ratio of 3.42 and a debt-to-equity ratio of 0.06. The business has a fifty day simple moving average of $51.62 and a 200-day simple moving average of $54.37. Orthofix Medical Inc has a 52 week low of $47.79 and a 52 week high of $74.44.

Orthofix Medical (NASDAQ:OFIX) last released its quarterly earnings data on Monday, August 5th. The medical device company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.12). The firm had revenue of $115.85 million for the quarter, compared to analyst estimates of $115.17 million. Orthofix Medical had a return on equity of 9.50% and a net margin of 1.75%. The company’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.42 earnings per share. As a group, analysts expect that Orthofix Medical Inc will post 1.77 earnings per share for the current fiscal year.

In related news, CEO Brad Mason sold 8,890 shares of the company’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $51.11, for a total transaction of $454,367.90. Following the completion of the sale, the chief executive officer now directly owns 159,053 shares of the company’s stock, valued at approximately $8,129,198.83. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 5.80% of the stock is currently owned by corporate insiders.

A number of research firms have recently commented on OFIX. Zacks Investment Research downgraded Orthofix Medical from a “buy” rating to a “hold” rating in a report on Friday, August 9th. BidaskClub upgraded Orthofix Medical from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. TheStreet downgraded Orthofix Medical from a “b+” rating to a “c+” rating in a report on Thursday, May 9th. Finally, ValuEngine downgraded Orthofix Medical from a “buy” rating to a “hold” rating in a report on Saturday, May 18th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $59.50.

Orthofix Medical Company Profile

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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