GSA Capital Partners LLP trimmed its position in shares of Orthofix Medical Inc (NASDAQ:OFIX) by 36.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 26,597 shares of the medical device company’s stock after selling 15,404 shares during the period. GSA Capital Partners LLP owned approximately 0.14% of Orthofix Medical worth $1,538,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. SG Americas Securities LLC increased its holdings in shares of Orthofix Medical by 151.9% during the 2nd quarter. SG Americas Securities LLC now owns 6,455 shares of the medical device company’s stock worth $367,000 after buying an additional 3,892 shares during the last quarter. First Quadrant L P CA acquired a new stake in shares of Orthofix Medical during the 3rd quarter worth $122,000. Bank of Montreal Can increased its holdings in shares of Orthofix Medical by 32.2% during the 3rd quarter. Bank of Montreal Can now owns 45,020 shares of the medical device company’s stock worth $2,603,000 after buying an additional 10,956 shares during the last quarter. Renaissance Technologies LLC increased its holdings in Orthofix Medical by 3.2% in the 2nd quarter. Renaissance Technologies LLC now owns 677,500 shares of the medical device company’s stock valued at $38,496,000 after purchasing an additional 21,021 shares in the last quarter. Finally, Federated Investors Inc. PA increased its holdings in Orthofix Medical by 4.4% in the 2nd quarter. Federated Investors Inc. PA now owns 120,142 shares of the medical device company’s stock valued at $6,826,000 after purchasing an additional 5,039 shares in the last quarter. Institutional investors and hedge funds own 93.89% of the company’s stock.
Shares of NASDAQ OFIX opened at $58.09 on Friday. Orthofix Medical Inc has a 12-month low of $50.41 and a 12-month high of $63.57. The firm has a market capitalization of $1.10 billion, a P/E ratio of 31.89, a P/E/G ratio of 3.44 and a beta of 0.28.
Orthofix Medical (NASDAQ:OFIX) last announced its quarterly earnings results on Monday, October 29th. The medical device company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.09. Orthofix Medical had a return on equity of 10.97% and a net margin of 1.45%. The firm had revenue of $111.70 million during the quarter, compared to the consensus estimate of $110.65 million. During the same period in the prior year, the firm earned $0.42 EPS. The firm’s quarterly revenue was up 6.2% compared to the same quarter last year. Equities analysts anticipate that Orthofix Medical Inc will post 1.75 earnings per share for the current year.
Several brokerages recently issued reports on OFIX. Zacks Investment Research upgraded Orthofix Medical from a “hold” rating to a “strong-buy” rating and set a $70.00 price target for the company in a report on Thursday, November 1st. BidaskClub upgraded Orthofix Medical from a “buy” rating to a “strong-buy” rating in a report on Thursday, September 27th. Finally, TheStreet upgraded Orthofix Medical from a “c+” rating to a “b-” rating in a report on Monday, September 10th. Four equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. Orthofix Medical presently has an average rating of “Buy” and an average price target of $67.67.
In related news, CFO Rice Doug sold 3,949 shares of the stock in a transaction on Thursday, October 11th. The stock was sold at an average price of $55.65, for a total value of $219,761.85. Following the completion of the sale, the chief financial officer now directly owns 32,368 shares in the company, valued at approximately $1,801,279.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Kimberley A. Elting sold 7,000 shares of the stock in a transaction on Friday, November 2nd. The shares were sold at an average price of $61.05, for a total value of $427,350.00. Following the completion of the sale, the insider now owns 22,740 shares of the company’s stock, valued at $1,388,277. The disclosure for this sale can be found here. Over the last quarter, insiders sold 25,843 shares of company stock valued at $1,557,826. 5.60% of the stock is owned by insiders.
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Orthofix Medical Company Profile
Orthofix Medical Inc, a medical device company, provides musculoskeletal healing products and value-added services worldwide. It operates through four segments: BioStim, Extremity Fixation, Spine Fixation, and Biologics. The BioStim 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-spine fractures.
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