Principal Financial Group Inc. raised its holdings in Orthofix Medical Inc. (NASDAQ:OFIX – Free Report) by 2.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 214,346 shares of the medical device company’s stock after acquiring an additional 4,531 shares during the period. Principal Financial Group Inc. owned 0.58% of Orthofix Medical worth $2,756,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of OFIX. SG Americas Securities LLC acquired a new stake in shares of Orthofix Medical during the 3rd quarter worth $305,000. Virginia Retirement Systems ET AL acquired a new stake in shares of Orthofix Medical during the 2nd quarter worth $448,000. Comerica Bank acquired a new stake in shares of Orthofix Medical during the 2nd quarter worth $4,831,000. Osaic Holdings Inc. increased its holdings in Orthofix Medical by 4.6% in the 2nd quarter. Osaic Holdings Inc. now owns 12,415 shares of the medical device company’s stock valued at $224,000 after purchasing an additional 546 shares in the last quarter. Finally, Legato Capital Management LLC increased its holdings in Orthofix Medical by 72.2% in the 2nd quarter. Legato Capital Management LLC now owns 59,441 shares of the medical device company’s stock valued at $1,073,000 after purchasing an additional 24,925 shares in the last quarter. 89.76% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several brokerages recently issued reports on OFIX. Roth Mkm began coverage on Orthofix Medical in a report on Friday, October 20th. They issued a “neutral” rating and a $12.00 price target for the company. StockNews.com raised shares of Orthofix Medical from a “sell” rating to a “hold” rating in a research report on Tuesday.
Orthofix Medical Stock Performance
Shares of OFIX stock opened at $14.55 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.13 and a current ratio of 2.58. Orthofix Medical Inc. has a one year low of $9.57 and a one year high of $21.81. The company’s 50-day simple moving average is $13.30 and its 200-day simple moving average is $14.22. The stock has a market capitalization of $534.86 million, a price-to-earnings ratio of -3.73 and a beta of 1.06.
Orthofix Medical (NASDAQ:OFIX – Get Free Report) last released its quarterly earnings data on Wednesday, November 8th. The medical device company reported ($0.77) earnings per share for the quarter, missing the consensus estimate of ($0.75) by ($0.02). The business had revenue of $184.01 million for the quarter, compared to analyst estimates of $185.50 million. Orthofix Medical had a negative return on equity of 7.26% and a negative net margin of 20.39%. Equities analysts anticipate that Orthofix Medical Inc. will post -3.16 earnings per share for the current fiscal year.
Orthofix Medical Profile
Orthofix Medical Inc operates spine and orthopedics company in the United States, Italy, Germany, France, the United Kingdom, Brazil, and internationally. It operates through Global Spine and Global Orthopedics segments. The Global Spine segment comprises the bone growth therapies products, which 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; the spinal implants products designs, develops, and markets a portfolio of motion preservation and fixation implant products, which are used in surgical procedures of the spine; and the biological products, such as regenerative products and tissue forms which allow physicians to treat a variety of spinal and orthopedic conditions.
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