Nuveen Asset Management LLC Lowers Stake in Orthofix Medical Inc. (NASDAQ:OFIX)

Nuveen Asset Management LLC decreased its stake in shares of Orthofix Medical Inc. (NASDAQ:OFIX) by 29.1% in the fourth quarter, Holdings Channel.com reports. The fund owned 88,620 shares of the medical device company’s stock after selling 36,392 shares during the period. Nuveen Asset Management LLC’s holdings in Orthofix Medical were worth $1,547,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of OFIX. Lazard Asset Management LLC bought a new position in Orthofix Medical during the fourth quarter valued at $45,000. KLP Kapitalforvaltning AS bought a new stake in shares of Orthofix Medical in the 4th quarter worth about $112,000. Tower Research Capital LLC TRC increased its stake in Orthofix Medical by 120.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 8,458 shares of the medical device company’s stock worth $148,000 after buying an additional 4,627 shares during the period. XTX Topco Ltd purchased a new position in Orthofix Medical in the 4th quarter worth about $234,000. Finally, Graham Capital Management L.P. increased its stake in Orthofix Medical by 25.2% in the 4th quarter. Graham Capital Management L.P. now owns 15,510 shares of the medical device company’s stock worth $271,000 after buying an additional 3,124 shares during the period. Institutional investors own 89.76% of the company’s stock.

Orthofix Medical Stock Up 1.8%

Shares of NASDAQ OFIX opened at $11.03 on Wednesday. The stock has a market cap of $432.17 million, a PE ratio of -3.52 and a beta of 0.87. The company has a current ratio of 2.39, a quick ratio of 1.11 and a debt-to-equity ratio of 0.25. Orthofix Medical Inc. has a 12-month low of $10.50 and a 12-month high of $20.73. The company has a 50-day moving average of $13.13 and a 200 day moving average of $16.21.

Wall Street Analysts Forecast Growth

A number of research firms have commented on OFIX. Roth Mkm reissued a “buy” rating and set a $22.00 target price on shares of Orthofix Medical in a research report on Wednesday, February 26th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $24.00 price objective on shares of Orthofix Medical in a research report on Wednesday, February 26th. Finally, Wall Street Zen downgraded shares of Orthofix Medical from a “buy” rating to a “hold” rating in a research report on Wednesday, May 7th.

Insider Buying and Selling at Orthofix Medical

In other news, major shareholder Engine Capital Management, Lp purchased 100,000 shares of the company’s stock in a transaction dated Wednesday, May 7th. The stock was acquired at an average price of $12.31 per share, with a total value of $1,231,000.00. Following the purchase, the insider now directly owns 3,544,807 shares in the company, valued at approximately $43,636,574.17. This represents a 2.90% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Lucas Vitale sold 4,287 shares of the company’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $16.60, for a total transaction of $71,164.20. Following the completion of the transaction, the insider now owns 135,317 shares in the company, valued at approximately $2,246,262.20. This represents a 3.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,475 shares of company stock worth $128,065. Insiders own 1.30% of the company’s stock.

Orthofix Medical 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.