Empirical Financial Services LLC d.b.a. Empirical Wealth Management Makes New $164,000 Investment in Orthofix Medical Inc. (NASDAQ:OFIX)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new position in Orthofix Medical Inc. (NASDAQ:OFIX) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 10,026 shares of the medical device company’s stock, valued at approximately $164,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Lazard Asset Management LLC acquired a new stake in shares of Orthofix Medical in the fourth quarter worth $45,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Orthofix Medical in the fourth quarter worth $112,000. Tower Research Capital LLC TRC increased its stake in shares of Orthofix Medical by 120.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 8,458 shares of the medical device company’s stock worth $148,000 after acquiring an additional 4,627 shares during the period. State of Wyoming increased its stake in shares of Orthofix Medical by 206.8% in the fourth quarter. State of Wyoming now owns 9,432 shares of the medical device company’s stock worth $165,000 after acquiring an additional 6,358 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Orthofix Medical by 42.5% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,053 shares of the medical device company’s stock worth $229,000 after acquiring an additional 4,192 shares during the period. Hedge funds and other institutional investors own 89.76% of the company’s stock.

Insider Activity at Orthofix Medical

In related news, major shareholder Engine Capital Management, Lp bought 100,000 shares of the company’s stock in a transaction dated Wednesday, May 7th. The shares were acquired at an average price of $12.31 per share, for a total transaction of $1,231,000.00. Following the completion of the transaction, the insider directly owned 3,544,807 shares in the company, valued at $43,636,574.17. This trade represents a 2.90% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Massimo Calafiore bought 10,000 shares of the company’s stock in a transaction dated Friday, May 9th. The stock was bought at an average price of $12.54 per share, for a total transaction of $125,400.00. Following the transaction, the chief executive officer owned 234,603 shares of the company’s stock, valued at approximately $2,941,921.62. This trade represents a 4.45% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 113,500 shares of company stock worth $1,394,858. 1.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

OFIX has been the topic of a number of research reports. Barrington Research upgraded shares of Orthofix Medical to a “strong-buy” rating and set a $16.00 price objective on the stock in a research note on Monday, June 23rd. Wall Street Zen lowered shares of Orthofix Medical from a “hold” rating to a “sell” rating in a research report on Friday, June 27th. Finally, JMP Securities restated a “market perform” rating on shares of Orthofix Medical in a research report on Friday, June 6th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Orthofix Medical presently has an average rating of “Moderate Buy” and a consensus price target of $21.50.

Orthofix Medical Stock Up 0.7%

OFIX stock opened at $10.85 on Tuesday. The firm has a market cap of $425.10 million, a PE ratio of -2.94 and a beta of 0.82. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.50 and a current ratio of 2.71. The firm’s fifty day moving average is $11.02 and its 200 day moving average is $14.03. Orthofix Medical Inc. has a one year low of $10.24 and a one year high of $20.73.

Orthofix Medical 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.