Shell Asset Management Co. Grows Position in Orthofix Medical Inc. (NASDAQ:OFIX)

Posted by MarketBeat News on Aug 6th, 2022

Shell Asset Management Co. raised its position in shares of Orthofix Medical Inc. (NASDAQ:OFIX – Get Rating) by 28.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,654 shares of the medical device company’s stock after buying an additional 2,333 shares during the quarter. Shell Asset Management Co.’s holdings in Orthofix Medical were worth $348,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC purchased a new position in shares of Orthofix Medical in the 4th quarter worth approximately $2,673,000. Yousif Capital Management LLC purchased a new position in shares of Orthofix Medical in the 4th quarter worth approximately $548,000. Paradigm Capital Management Inc. NY purchased a new position in shares of Orthofix Medical in the 4th quarter worth approximately $1,001,000. Factorial Partners LLC boosted its holdings in shares of Orthofix Medical by 14.5% in the 4th quarter. Factorial Partners LLC now owns 31,500 shares of the medical device company’s stock worth $979,000 after purchasing an additional 4,000 shares during the period. Finally, Heartland Advisors Inc. boosted its holdings in shares of Orthofix Medical by 53.6% in the 4th quarter. Heartland Advisors Inc. now owns 357,800 shares of the medical device company’s stock worth $11,124,000 after purchasing an additional 124,800 shares during the period. Hedge funds and other institutional investors own 97.93% of the company’s stock.

Orthofix Medical Price Performance

Shares of OFIX stock opened at $22.77 on Friday. Orthofix Medical Inc. has a 52-week low of $22.66 and a 52-week high of $43.30. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.88 and a current ratio of 2.89. The firm has a market capitalization of $453.40 million, a P/E ratio of -12.24 and a beta of 1.01. The stock has a 50 day moving average price of $25.12 and a 200 day moving average price of $29.18.

Orthofix Medical (NASDAQ:OFIX – Get Rating) last issued its quarterly earnings results on Friday, May 6th. The medical device company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.28). Orthofix Medical had a positive return on equity of 3.34% and a negative net margin of 7.96%. The business had revenue of $106.42 million for the quarter, compared to the consensus estimate of $104.70 million. As a group, sell-side analysts predict that Orthofix Medical Inc. will post 0.56 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, StockNews.com cut Orthofix Medical from a “buy” rating to a “hold” rating in a report 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.