Orthofix Medical Inc. $OFIX is Engine Capital Management LP’s 3rd Largest Position

Engine Capital Management LP lifted its stake in Orthofix Medical Inc. (NASDAQ:OFIX) by 13.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,251,671 shares of the medical device company’s stock after buying an additional 510,281 shares during the period. Orthofix Medical makes up approximately 10.0% of Engine Capital Management LP’s holdings, making the stock its 3rd largest holding. Engine Capital Management LP owned about 10.85% of Orthofix Medical worth $47,406,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of OFIX. US Bancorp DE grew its position in Orthofix Medical by 684.6% during the 1st quarter. US Bancorp DE now owns 5,673 shares of the medical device company’s stock worth $93,000 after acquiring an additional 4,950 shares during the last quarter. Strs Ohio purchased a new stake in shares of Orthofix Medical during the first quarter valued at approximately $150,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Orthofix Medical in the second quarter worth approximately $147,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its stake in shares of Orthofix Medical by 32.6% in the second quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 13,297 shares of the medical device company’s stock worth $148,000 after buying an additional 3,271 shares during the period. Finally, The Manufacturers Life Insurance Company raised its holdings in Orthofix Medical by 21.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 14,867 shares of the medical device company’s stock valued at $166,000 after buying an additional 2,589 shares during the last quarter. Institutional investors own 89.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Barrington Research raised their price target on shares of Orthofix Medical from $17.00 to $18.00 and gave the stock an “outperform” rating in a report on Wednesday, November 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Orthofix Medical in a report on Wednesday, October 8th. Finally, Stifel Nicolaus assumed coverage on Orthofix Medical in a report on Tuesday, October 28th. They set a “buy” rating and a $22.00 price target on the stock. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.50.

Orthofix Medical Trading Down 0.8%

Shares of OFIX opened at $15.71 on Friday. Orthofix Medical Inc. has a 1-year low of $10.24 and a 1-year high of $20.48. The company has a current ratio of 2.47, a quick ratio of 1.38 and a debt-to-equity ratio of 0.39. The firm’s 50-day moving average price is $15.29 and its 200-day moving average price is $13.51. The firm has a market capitalization of $622.12 million, a price-to-earnings ratio of -5.18 and a beta of 0.82.

Orthofix Medical Profile

Orthofix Medical Inc operates as a spine and orthopedics company in the United States, Italy, Germany, the United Kingdom, France, Brazil, and internationally. It operates through two segments, Global Spine and Global Orthopedics. The Global Spine segment manufactures and distributes bone growth stimulator devices for enhance of bone fusion, including adjunctive and noninvasive treatment of cervical and lumbar spine, as well as a therapeutic treatment for non-spine; designs, develops, and markets a portfolio of motion preservation and fixation implant products, which are used in surgical procedures of the spine; and offers biological products, such as fiber-based and particulate demineralized bone matrices, cellular bone allografts, collagen ceramic matrices, and synthetic bone void fillers, and tissue forms, which allow physicians to treat various spinal and orthopedic conditions.