Orthofix Medical Inc. $OFIX Shares Sold by Algert Global LLC

Algert Global LLC cut its stake in Orthofix Medical Inc. (NASDAQ:OFIX) by 1.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 180,303 shares of the medical device company’s stock after selling 2,840 shares during the period. Algert Global LLC owned approximately 0.46% of Orthofix Medical worth $2,941,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Lazard Asset Management LLC acquired a new stake in shares of Orthofix Medical in the fourth quarter worth approximately $45,000. US Bancorp DE boosted its position in shares of Orthofix Medical by 684.6% in the first quarter. US Bancorp DE now owns 5,673 shares of the medical device company’s stock worth $93,000 after acquiring an additional 4,950 shares during the last quarter. Tower Research Capital LLC TRC boosted its position 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 last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in shares of Orthofix Medical in the first quarter worth approximately $164,000. Finally, State of Wyoming boosted its position 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 last quarter. 89.76% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on OFIX shares. JMP Securities reissued a “market perform” rating on shares of Orthofix Medical in a research report on Friday, June 6th. Barrington Research upgraded shares of Orthofix Medical to a “strong-buy” rating and set a $16.00 price target on the stock in a report on Monday, June 23rd. Finally, Wall Street Zen upgraded shares of Orthofix Medical from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $21.50.

Insider Activity

In other news, insider Aviva Mcpherron sold 3,728 shares of Orthofix Medical stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $10.51, for a total transaction of $39,181.28. Following the sale, the insider owned 46,322 shares in the company, valued at $486,844.22. This trade represents a 7.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.30% of the stock is owned by corporate insiders.

Orthofix Medical Trading Up 0.2%

NASDAQ OFIX opened at $14.53 on Thursday. Orthofix Medical Inc. has a one year low of $10.24 and a one year high of $20.73. The company’s 50 day moving average price is $11.60 and its 200 day moving average price is $13.69. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.50 and a current ratio of 2.67. The firm has a market capitalization of $573.79 million, a price-to-earnings ratio of -4.58 and a beta of 0.82.

Orthofix Medical (NASDAQ:OFIX) last posted its quarterly earnings data on Tuesday, August 5th. The medical device company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.40). The firm had revenue of $203.12 million for the quarter, compared to analysts’ expectations of $196.89 million. Orthofix Medical had a negative net margin of 15.29% and a negative return on equity of 25.43%. Orthofix Medical has set its FY 2025 guidance at EPS. On average, sell-side analysts predict that Orthofix Medical Inc. will post -2.81 EPS for the current year.

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.