Orthofix Medical Inc. (NASDAQ:OFIX) Major Shareholder Engine Capital Management, Lp Buys 1,250 Shares

Orthofix Medical Inc. (NASDAQ:OFIX) major shareholder Engine Capital Management, Lp purchased 1,250 shares of the firm’s stock in a transaction on Wednesday, July 2nd. The stock was bought at an average cost of $11.11 per share, with a total value of $13,887.50. Following the completion of the acquisition, the insider directly owned 3,546,057 shares of the company’s stock, valued at $39,396,693.27. This trade represents a 0.04% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Engine Capital Management, Lp also recently made the following trade(s):

• On Wednesday, May 7th, Engine Capital Management, Lp purchased 100,000 shares of Orthofix Medical stock. The stock was bought at an average cost of $12.31 per share, with a total value of $1,231,000.00.

Orthofix Medical Price Performance

OFIX opened at $11.31 on Wednesday. The stock’s 50-day moving average price is $11.49 and its 200 day moving average price is $14.89. Orthofix Medical Inc. has a 12-month low of $10.24 and a 12-month high of $20.73. The company has a current ratio of 2.71, a quick ratio of 1.50 and a debt-to-equity ratio of 0.38. The firm has a market cap of $443.13 million, a price-to-earnings ratio of -3.07 and a beta of 0.80.

Analysts Set New Price Targets

Several research analysts have recently weighed in on OFIX shares. JMP Securities reaffirmed a “market perform” rating on shares of Orthofix Medical in a research note on Friday, June 6th. Barrington Research raised Orthofix Medical to a “strong-buy” rating and set a $16.00 target price for the company in a research note on Monday, June 23rd. Finally, Wall Street Zen lowered Orthofix Medical from a “hold” rating to a “sell” rating in a research report on Friday, June 27th. One analyst has rated the stock with a sell rating, one has issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $21.50.

Hedge Funds Weigh In On Orthofix Medical

Several hedge funds have recently bought and sold shares of the company. Strs Ohio acquired a new stake in Orthofix Medical in the 1st quarter valued at about $150,000. Jane Street Group LLC acquired a new stake in shares of Orthofix Medical during the 1st quarter worth about $1,076,000. Dynamic Technology Lab Private Ltd acquired a new position in Orthofix Medical during the first quarter worth approximately $575,000. Philosophy Capital Management LLC acquired a new position in Orthofix Medical during the first quarter worth approximately $6,047,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Orthofix Medical by 6.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,561 shares of the medical device company’s stock worth $335,000 after buying an additional 1,213 shares during the period. Institutional investors and hedge funds own 89.76% of the company’s stock.

About Orthofix Medical

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.