Orthofix Medical Inc. (NASDAQ:OFIX) Short Interest Up 43.4% in May

Orthofix Medical Inc. (NASDAQ:OFIX) saw a significant growth in short interest in May. As of May 31st, there was short interest totalling 1,430,000 shares, a growth of 43.4% from the May 15th total of 997,300 shares. Based on an average daily trading volume, of 357,600 shares, the short-interest ratio is currently 4.0 days. Currently, 3.8% of the shares of the stock are sold short.

Analyst Ratings Changes

OFIX has been the topic of several research reports. Roth Mkm reiterated a “buy” rating and issued a $22.00 target price on shares of Orthofix Medical in a research report on Wednesday, February 26th. JMP Securities reaffirmed a “market perform” rating on shares of Orthofix Medical in a research note on Friday, June 6th. Wall Street Zen raised Orthofix Medical from a “sell” rating to a “hold” rating in a research report on Saturday. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $24.00 target price on shares of Orthofix Medical in a research note on Wednesday, February 26th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Orthofix Medical currently has an average rating of “Moderate Buy” and an average price target of $23.33.

Insider Buying and Selling at Orthofix Medical

In other news, CEO Massimo Calafiore bought 10,000 shares of the business’s stock in a transaction on Friday, May 9th. The shares were bought at an average cost of $12.54 per share, with a total value of $125,400.00. Following the purchase, the chief executive officer now directly owns 234,603 shares in the company, valued at $2,941,921.62. This trade represents a 4.45% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Engine Capital Management, Lp acquired 100,000 shares of the firm’s stock in a transaction on Wednesday, May 7th. The shares were acquired at an average price of $12.31 per share, with a total value of $1,231,000.00. Following the completion of the transaction, the insider now directly owns 3,544,807 shares in the company, valued at approximately $43,636,574.17. This trade represents a 2.90% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 112,250 shares of company stock valued at $1,380,970 and have sold 8,475 shares valued at $128,065. 1.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Engine Capital Management LP grew its position in shares of Orthofix Medical by 8.4% in the first quarter. Engine Capital Management LP now owns 3,741,390 shares of the medical device company’s stock valued at $61,022,000 after purchasing an additional 290,646 shares during the last quarter. Vanguard Group Inc. grew its holdings in Orthofix Medical by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 2,181,313 shares of the medical device company’s stock valued at $35,577,000 after buying an additional 54,528 shares during the last quarter. Juniper Investment Company LLC grew its holdings in Orthofix Medical by 10.3% in the 1st quarter. Juniper Investment Company LLC now owns 2,137,374 shares of the medical device company’s stock valued at $34,861,000 after buying an additional 200,125 shares during the last quarter. Boone Capital Management LLC increased its position in Orthofix Medical by 13.6% in the 4th quarter. Boone Capital Management LLC now owns 1,057,313 shares of the medical device company’s stock worth $18,461,000 after buying an additional 126,806 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of Orthofix Medical by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 841,637 shares of the medical device company’s stock worth $14,699,000 after buying an additional 2,448 shares during the last quarter. Institutional investors and hedge funds own 89.76% of the company’s stock.

Orthofix Medical Stock Down 0.6%

Shares of Orthofix Medical stock traded down $0.07 during midday trading on Monday, reaching $10.93. 228,451 shares of the company’s stock traded hands, compared to its average volume of 276,083. The company has a market cap of $428.25 million, a price-to-earnings ratio of -3.49 and a beta of 0.80. The company’s 50 day simple moving average is $12.45 and its 200 day simple moving average is $15.76. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.11 and a current ratio of 2.39. Orthofix Medical has a 52 week low of $10.50 and a 52 week high of $20.73.

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.