Alberta Investment Management Corp lifted its position in Orthofix Medical Inc (NASDAQ:OFIX) by 29.8% in the 1st quarter, Holdings Channel.com reports. The fund owned 117,503 shares of the medical device company’s stock after acquiring an additional 27,000 shares during the period. Alberta Investment Management Corp’s holdings in Orthofix Medical were worth $3,291,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in OFIX. Marshall Wace North America L.P. bought a new stake in shares of Orthofix Medical in the 1st quarter worth approximately $25,000. First Trust Advisors LP lifted its holdings in shares of Orthofix Medical by 85.7% in the 1st quarter. First Trust Advisors LP now owns 48,093 shares of the medical device company’s stock worth $2,713,000 after purchasing an additional 22,190 shares during the last quarter. California Public Employees Retirement System lifted its holdings in shares of Orthofix Medical by 1.2% in the 4th quarter. California Public Employees Retirement System now owns 42,113 shares of the medical device company’s stock worth $1,945,000 after purchasing an additional 500 shares during the last quarter. Aigen Investment Management LP bought a new stake in shares of Orthofix Medical in the 4th quarter worth approximately $328,000. Finally, Bessemer Group Inc. lifted its holdings in shares of Orthofix Medical by 3.7% in the 4th quarter. Bessemer Group Inc. now owns 52,900 shares of the medical device company’s stock worth $2,443,000 after purchasing an additional 1,900 shares during the last quarter. 96.26% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director James F. Hinrichs acquired 10,000 shares of the company’s stock in a transaction dated Thursday, March 12th. The shares were bought at an average price of $26.85 per share, with a total value of $268,500.00. Following the purchase, the director now owns 45,574 shares of the company’s stock, valued at $1,223,661.90. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Jon Carl Serbousek acquired 2,900 shares of the company’s stock in a transaction dated Thursday, February 27th. The stock was purchased at an average cost of $35.48 per share, for a total transaction of $102,892.00. Following the purchase, the chief executive officer now directly owns 41,728 shares in the company, valued at approximately $1,480,509.44. The disclosure for this purchase can be found here. 5.80% of the stock is currently owned by insiders.
Shares of Orthofix Medical stock opened at $33.72 on Friday. The business’s fifty day moving average price is $32.37 and its two-hundred day moving average price is $39.22. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.64 and a quick ratio of 2.38. The company has a market capitalization of $662.09 million, a P/E ratio of 26.73 and a beta of 1.02. Orthofix Medical Inc has a 1-year low of $22.11 and a 1-year high of $55.17.
Orthofix Medical (NASDAQ:OFIX) last announced its earnings results on Friday, May 8th. The medical device company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.02). The business had revenue of $104.82 million for the quarter, compared to the consensus estimate of $104.50 million. Orthofix Medical had a negative net margin of 0.81% and a positive return on equity of 7.46%. On average, research analysts expect that Orthofix Medical Inc will post -0.38 earnings per share for the current fiscal year.
Several analysts recently issued reports on OFIX shares. Cantor Fitzgerald cut their price target on Orthofix Medical from $48.00 to $42.00 and set a “neutral” rating on the stock in a report on Tuesday, February 25th. Zacks Investment Research downgraded Orthofix Medical from a “buy” rating to a “hold” rating in a report on Thursday, May 14th. ValuEngine downgraded Orthofix Medical from a “buy” rating to a “hold” rating in a report on Tuesday, March 3rd. Sidoti cut their target price on Orthofix Medical from $70.00 to $56.00 and set a “buy” rating on the stock in a research note on Tuesday, February 25th. Finally, BidaskClub raised Orthofix Medical from a “strong sell” rating to a “sell” rating in a research note on Friday, May 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $45.33.
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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