State of New Jersey Common Pension Fund D Lowers Stock Position in Orthofix Medical Inc. (NASDAQ:OFIX)

State of New Jersey Common Pension Fund D lessened its stake in shares of Orthofix Medical Inc. (NASDAQ:OFIX – Get Rating) by 76.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,195 shares of the medical device company’s stock after selling 39,572 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.06% of Orthofix Medical worth $399,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. Segall Bryant & Hamill LLC boosted its stake in Orthofix Medical by 4.4% during the fourth quarter. Segall Bryant & Hamill LLC now owns 2,728,604 shares of the medical device company’s stock worth $84,828,000 after buying an additional 114,594 shares during the period. Heartland Advisors Inc. boosted its stake in Orthofix Medical by 53.6% during the fourth quarter. Heartland Advisors Inc. now owns 357,800 shares of the medical device company’s stock worth $11,124,000 after buying an additional 124,800 shares during the period. Alberta Investment Management Corp boosted its stake in Orthofix Medical by 9.9% during the fourth quarter. Alberta Investment Management Corp now owns 129,095 shares of the medical device company’s stock worth $4,014,000 after buying an additional 11,592 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in Orthofix Medical during the fourth quarter worth about $2,673,000. Finally, Rhumbline Advisers boosted its stake in Orthofix Medical by 1.6% during the fourth quarter. Rhumbline Advisers now owns 59,559 shares of the medical device company’s stock worth $1,852,000 after buying an additional 930 shares during the period. Hedge funds and other institutional investors own 97.93% of the company’s stock.

Orthofix Medical Trading Down 4.6 %

NASDAQ OFIX opened at $24.70 on Friday. The firm has a 50 day simple moving average of $25.21 and a 200-day simple moving average of $29.25. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.88 and a current ratio of 2.89. Orthofix Medical Inc. has a one year low of $23.15 and a one year high of $43.30. The firm has a market cap of $491.83 million, a price-to-earnings ratio of -13.28 and a beta of 1.01.

Orthofix Medical (NASDAQ:OFIX – Get Rating) last posted its quarterly earnings data on Friday, May 6th. The medical device company reported ($0.10) EPS for the quarter, missing the consensus estimate of $0.18 by ($0.28). Orthofix Medical had a negative net margin of 7.96% and a positive return on equity of 3.34%. The business had revenue of $106.42 million during the quarter, compared to analysts’ expectations of $104.70 million. Equities research analysts anticipate that Orthofix Medical Inc. will post 0.56 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of Orthofix Medical from a “buy” rating to a “hold” rating in a research note on Tuesday, May 10th.

Orthofix Medical Company Profile

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Orthofix Medical Inc operates as a medical device and biologics company in the United States, Italy, Germany, France, the United Kingdom, Brazil, and internationally. It operates through two segments, Global Spine and Global Orthopedics. The Global Spine segment manufactures, distributes, and provides support services for bone growth stimulator devices that enhance bone fusion, as well as used as a therapeutic treatment for non-spinal and appendicular fractures.

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