Diamond Hill Capital Management Inc. reduced its position in Orthofix Medical Inc (NASDAQ:OFIX) by 49.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 210,105 shares of the medical device company’s stock after selling 204,012 shares during the period. Diamond Hill Capital Management Inc. owned approximately 1.11% of Orthofix Medical worth $12,146,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. First Quadrant L P CA acquired a new position in Orthofix Medical during the 3rd quarter worth approximately $122,000. Itau Unibanco Holding S.A. acquired a new position in Orthofix Medical during the 2nd quarter worth approximately $224,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in Orthofix Medical during the 2nd quarter worth approximately $227,000. Hartford Investment Management Co. acquired a new position in Orthofix Medical during the 2nd quarter worth approximately $269,000. Finally, United Services Automobile Association lifted its position in Orthofix Medical by 37.9% during the 2nd quarter. United Services Automobile Association now owns 5,908 shares of the medical device company’s stock worth $336,000 after acquiring an additional 1,623 shares in the last quarter. 93.48% of the stock is currently owned by institutional investors and hedge funds.
OFIX stock opened at $60.25 on Friday. Orthofix Medical Inc has a 52-week low of $50.41 and a 52-week high of $63.57. The company has a market cap of $1.12 billion, a price-to-earnings ratio of 32.31, a price-to-earnings-growth ratio of 3.48 and a beta of 0.30.
In other Orthofix Medical news, Director Luke T. Faulstick sold 8,450 shares of Orthofix Medical stock in a transaction that occurred on Friday, November 2nd. The stock was sold at an average price of $61.05, for a total transaction of $515,872.50. Following the sale, the director now directly owns 7,129 shares in the company, valued at approximately $435,225.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Brad Mason sold 2,500 shares of Orthofix Medical stock in a transaction that occurred on Wednesday, September 5th. The stock was sold at an average price of $53.02, for a total value of $132,550.00. The disclosure for this sale can be found here. Insiders have sold a total of 28,343 shares of company stock worth $1,690,376 over the last 90 days. 5.60% of the stock is owned by company insiders.
OFIX has been the topic of several recent research reports. BidaskClub lowered Orthofix Medical from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, September 12th. Zacks Investment Research lowered Orthofix Medical from a “hold” rating to a “sell” rating in a research report on Thursday, August 9th. TheStreet upgraded Orthofix Medical from a “c+” rating to a “b-” rating in a report on Monday, September 10th. Finally, Cantor Fitzgerald lifted their price objective on Orthofix Medical to $66.00 and gave the stock an “overweight” rating in a report on Tuesday, August 7th. Four research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $67.67.
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Orthofix Medical Company Profile
Orthofix Medical Inc, a medical device company, provides musculoskeletal healing products and value-added services worldwide. It operates through four segments: BioStim, Extremity Fixation, Spine Fixation, and Biologics. The BioStim segment manufactures, distributes, and provides support services for bone growth stimulator devices that enhance bone fusion and are indicated as treatment to enhance fusion success rates in cervical and lumbar spine, as well as a therapeutic treatment for non-spine fractures.
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