Great Lakes Advisors LLC Acquires 72,383 Shares of Orthofix Medical Inc. (NASDAQ:OFIX)

Great Lakes Advisors LLC raised its stake in shares of Orthofix Medical Inc. (NASDAQ:OFIX) by 40.9% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 249,165 shares of the medical device company’s stock after purchasing an additional 72,383 shares during the period. Great Lakes Advisors LLC owned approximately 0.68% of Orthofix Medical worth $4,500,000 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 Light Asset Management LLC purchased a new stake in shares of Orthofix Medical in the first quarter valued at about $44,404,000. BlackRock Inc. boosted its stake in shares of Orthofix Medical by 55.5% in the 1st quarter. BlackRock Inc. now owns 6,006,860 shares of the medical device company’s stock worth $100,615,000 after buying an additional 2,144,154 shares during the last quarter. Rubric Capital Management LP bought a new position in shares of Orthofix Medical in the first quarter valued at approximately $34,232,000. Armistice Capital LLC increased its position in shares of Orthofix Medical by 129.5% during the first quarter. Armistice Capital LLC now owns 1,836,000 shares of the medical device company’s stock valued at $30,753,000 after acquiring an additional 1,036,000 shares during the last quarter. Finally, State Street Corp increased its position in shares of Orthofix Medical by 78.9% during the first quarter. State Street Corp now owns 1,565,916 shares of the medical device company’s stock valued at $26,229,000 after acquiring an additional 690,819 shares during the last quarter. 89.76% of the stock is owned by institutional investors.

Insider Activity

In other Orthofix Medical news, Director James F. Hinrichs acquired 7,500 shares of the business’s stock in a transaction that occurred on Thursday, September 14th. The stock was bought at an average cost of $13.47 per share, with a total value of $101,025.00. Following the acquisition, the director now owns 86,153 shares in the company, valued at $1,160,480.91. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 4.70% of the company’s stock.

Orthofix Medical Trading Up 3.1 %

Shares of Orthofix Medical stock opened at $10.82 on Tuesday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.13 and a current ratio of 2.58. The stock has a market capitalization of $397.71 million, a P/E ratio of -2.77 and a beta of 1.05. Orthofix Medical Inc. has a 52-week low of $9.57 and a 52-week high of $23.19. The stock’s 50-day simple moving average is $11.83 and its 200 day simple moving average is $16.64.

Wall Street Analysts Forecast Growth

OFIX has been the subject of a number of recent analyst reports. BTIG Research downgraded Orthofix Medical from a “buy” rating to a “neutral” rating in a research note on Tuesday, September 12th. Stifel Nicolaus lowered shares of Orthofix Medical from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $30.00 to $16.00 in a research report on Tuesday, September 12th. Roth Mkm began coverage on shares of Orthofix Medical in a research report on Friday, October 20th. They set a “neutral” rating and a $12.00 target price for the company. Finally, StockNews.com cut shares of Orthofix Medical from a “hold” rating to a “sell” rating in a report on Friday, October 20th.

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.