SG Americas Securities LLC increased its position in shares of Orthofix Medical Inc (NASDAQ:OFIX) by 54.3% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 18,168 shares of the medical device company’s stock after purchasing an additional 6,390 shares during the quarter. SG Americas Securities LLC’s holdings in Orthofix Medical were worth $1,025,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Prudential Financial Inc. raised its position in shares of Orthofix Medical by 3.5% during the 4th quarter. Prudential Financial Inc. now owns 32,952 shares of the medical device company’s stock valued at $1,730,000 after buying an additional 1,118 shares during the period. First Quadrant L P CA raised its position in shares of Orthofix Medical by 145.5% during the 4th quarter. First Quadrant L P CA now owns 5,160 shares of the medical device company’s stock valued at $271,000 after buying an additional 3,058 shares during the period. Cigna Investments Inc. New purchased a new stake in shares of Orthofix Medical during the 4th quarter valued at approximately $296,000. Victory Capital Management Inc. raised its position in shares of Orthofix Medical by 782.8% during the 4th quarter. Victory Capital Management Inc. now owns 326,063 shares of the medical device company’s stock valued at $17,115,000 after buying an additional 289,126 shares during the period. Finally, Bessemer Group Inc. raised its position in shares of Orthofix Medical by 49.1% during the 4th quarter. Bessemer Group Inc. now owns 33,100 shares of the medical device company’s stock valued at $1,737,000 after buying an additional 10,900 shares during the period. 97.17% of the stock is currently owned by hedge funds and other institutional investors.
In other Orthofix Medical news, CEO Brad Mason sold 5,949 shares of the business’s stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $52.35, for a total value of $311,430.15. Following the sale, the chief executive officer now owns 179,237 shares of the company’s stock, valued at $9,383,056.95. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Davide Bianchi sold 24,400 shares of the business’s stock in a transaction that occurred on Tuesday, February 19th. The shares were sold at an average price of $65.00, for a total value of $1,586,000.00. The disclosure for this sale can be found here. 5.60% of the stock is owned by insiders.
Orthofix Medical (NASDAQ:OFIX) last announced its earnings results on Monday, May 6th. The medical device company reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.13). The firm had revenue of $109.10 million during the quarter, compared to analysts’ expectations of $110.59 million. Orthofix Medical had a net margin of 2.09% and a return on equity of 10.45%. The firm’s revenue for the quarter was up .4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.39 EPS. Analysts predict that Orthofix Medical Inc will post 1.77 earnings per share for the current fiscal year.
Several analysts have recently commented on OFIX shares. Zacks Investment Research raised shares of Orthofix Medical from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a research report on Wednesday, January 16th. BidaskClub lowered Orthofix Medical from a “hold” rating to a “sell” rating in a research report on Friday, April 19th. ValuEngine lowered Orthofix Medical from a “buy” rating to a “hold” rating in a research report on Tuesday, March 5th. TheStreet lowered Orthofix Medical from a “b+” rating to a “c+” rating in a research report on Thursday, May 9th. Finally, BTIG Research reissued a “neutral” rating on shares of Orthofix Medical in a research report on Tuesday, February 26th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Orthofix Medical currently has an average rating of “Buy” and an average target price of $61.50.
Orthofix Medical Profile
Orthofix Medical Inc, a medical device company, provides musculoskeletal healing products and therapies worldwide. It operates through four segments: Bone Growth Therapies, Spinal Implants, Biologics, and Orthofix Extremities. The Bone Growth Therapies 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-spinal appendicular fractures.
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