Insider Buying: Orthofix Medical (NASDAQ:OFIX) Major Shareholder Purchases $104,213.12 in Stock

Orthofix Medical Inc. (NASDAQ:OFIX) major shareholder Juniper Investment Company, Ll purchased 14,803 shares of the company’s stock in a transaction that occurred on Wednesday, November 11th. The stock was acquired at an average cost of $7.04 per share, for a total transaction of $104,213.12. Following the transaction, the insider owned 4,461,019 shares in the company, valued at $31,405,573.76. This represents a 0.33% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Juniper Investment Company, Ll also recently made the following trade(s):

• On Monday, November 9th, Juniper Investment Company, Ll purchased 675,000 shares of Orthofix Medical stock. The stock was bought at an average cost of $7.41 per share, with a total value of $5,001,750.00.

Orthofix Medical Stock Up 3.3%

Shares of OFIX traded up $0.23 during trading hours on Friday, reaching $7.17. 553,153 shares of the stock traded hands, compared to its average volume of 661,289. The company has a current ratio of 3.11, a quick ratio of 1.67 and a debt-to-equity ratio of 0.55. The stock has a fifty day simple moving average of $9.07 and a 200 day simple moving average of $10.83. Orthofix Medical Inc. has a 52 week low of $6.52 and a 52 week high of $16.42. The company has a market cap of $292.03 million, a price-to-earnings ratio of -6.40 and a beta of 0.66.

Orthofix Medical (NASDAQ:OFIX) last announced its quarterly earnings data on Monday, November 9th. The medical device company reported ($0.15) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.11. The firm had revenue of $207.86 million during the quarter, compared to the consensus estimate of $210.52 million. Orthofix Medical had a negative return on equity of 10.32% and a negative net margin of 5.39%. On average, equities analysts forecast that Orthofix Medical Inc. will post -1.29 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of OFIX. Empowered Funds LLC lifted its stake in Orthofix Medical by 294.4% during the third quarter. Empowered Funds LLC now owns 138,453 shares of the medical device company’s stock worth $1,303,000 after purchasing an additional 103,348 shares during the last quarter. Boston Partners grew its holdings in Orthofix Medical by 39.8% in the 3rd quarter. Boston Partners now owns 36,989 shares of the medical device company’s stock worth $348,000 after acquiring an additional 10,535 shares during the last quarter. Voya Investment Management LLC increased its holdings in Orthofix Medical by 69.7% during the 3rd quarter. Voya Investment Management LLC now owns 197,930 shares of the medical device company’s stock valued at $1,863,000 after purchasing an additional 81,298 shares during the period. Russell Investments Group Ltd. increased its stake in shares of Orthofix Medical by 37.5% during the third quarter. Russell Investments Group Ltd. now owns 274,157 shares of the medical device company’s stock valued at $2,580,000 after buying an additional 74,838 shares during the period. Finally, Parallel Advisors LLC increased its position in Orthofix Medical by 2,434.1% during the 3rd quarter. Parallel Advisors LLC now owns 3,269 shares of the medical device company’s stock valued at $31,000 after purchasing an additional 3,140 shares during the period. 89.76% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on OFIX shares. Weiss Ratings downgraded shares of Orthofix Medical from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, November 3rd. Canaccord Genuity Group lowered their target price on shares of Orthofix Medical from $18.00 to $13.00 and set a “buy” rating on the stock in a report on Monday, August 10th. Finally, TD Cowen reissued a “hold” rating and set a $9.00 target price on shares of Orthofix Medical in a report on Tuesday. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $13.50.

Orthofix Medical Company Profile

Orthofix Medical Inc. develops and markets medical technologies for spine and orthopedic care. Its products include spinal implants and biologics, bone growth stimulation systems, and solutions used in fracture treatment and limb reconstruction. The company serves hospitals, surgeons, and other health care providers through its Orthofix and SeaSpine businesses. Its offerings span surgical products as well as noninvasive and specialized orthopedic treatments. Orthofix and SeaSpine completed a merger in 2023, combining their spine and orthopedic product portfolios.