Orthofix Medical Inc. (NASDAQ:OFIX) Shares Acquired by Verition Fund Management LLC

Verition Fund Management LLC grew its stake in Orthofix Medical Inc. (NASDAQ:OFIX) by 14.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 31,704 shares of the medical device company’s stock after purchasing an additional 4,112 shares during the quarter. Verition Fund Management LLC owned approximately 0.08% of Orthofix Medical worth $495,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. Victory Capital Management Inc. bought a new position in shares of Orthofix Medical during the second quarter valued at approximately $832,000. AYAL Capital Advisors Ltd lifted its position in Orthofix Medical by 10.2% in the 2nd quarter. AYAL Capital Advisors Ltd now owns 686,794 shares of the medical device company’s stock valued at $9,107,000 after purchasing an additional 63,697 shares during the last quarter. Paradigm Capital Management Inc. NY grew its position in Orthofix Medical by 31.3% in the 2nd quarter. Paradigm Capital Management Inc. NY now owns 2,556,100 shares of the medical device company’s stock worth $33,894,000 after purchasing an additional 609,137 shares during the last quarter. Great Lakes Advisors LLC increased its stake in shares of Orthofix Medical by 15.1% in the second quarter. Great Lakes Advisors LLC now owns 259,750 shares of the medical device company’s stock valued at $3,444,000 after purchasing an additional 34,114 shares during the period. Finally, Engine Capital Management LP raised its holdings in shares of Orthofix Medical by 11.0% during the second quarter. Engine Capital Management LP now owns 3,368,665 shares of the medical device company’s stock valued at $44,668,000 after buying an additional 333,364 shares during the last quarter. Institutional investors own 89.76% of the company’s stock.

Orthofix Medical Stock Performance

Shares of OFIX opened at $18.54 on Thursday. The stock has a market capitalization of $708.49 million, a P/E ratio of -5.92 and a beta of 1.09. Orthofix Medical Inc. has a 12-month low of $11.17 and a 12-month high of $20.73. The firm’s 50 day moving average is $17.44 and its 200-day moving average is $16.03. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.39 and a quick ratio of 1.11.

Analyst Upgrades and Downgrades

OFIX has been the topic of several analyst reports. Roth Mkm restated a “buy” rating and issued a $22.00 target price (up from $20.00) on shares of Orthofix Medical in a research report on Friday, November 8th. Stifel Nicolaus upgraded shares of Orthofix Medical from a “hold” rating to a “buy” rating and lifted their price objective for the company from $18.00 to $24.00 in a research note on Friday, November 8th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $23.00.

Orthofix Medical Company Profile

Orthofix Medical Inc operates as a spine and orthopedics company in the United States, Italy, Germany, the United Kingdom, France, Brazil, and internationally. It operates through two segments, Global Spine and Global Orthopedics. The Global Spine segment 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; designs, develops, and markets a portfolio of motion preservation and fixation implant products, which are used in surgical procedures of the spine; and offers biological products, such as fiber-based and particulate demineralized bone matrices, cellular bone allografts, collagen ceramic matrices, and synthetic bone void fillers, and tissue forms, which allow physicians to treat various spinal and orthopedic conditions.