Gabelli Funds LLC Raises Stake in Orthofix Medical Inc. $OFIX

Gabelli Funds LLC boosted its position in shares of Orthofix Medical Inc. (NASDAQ:OFIX) by 70.8% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 257,123 shares of the medical device company’s stock after acquiring an additional 106,623 shares during the period. Gabelli Funds LLC owned about 0.66% of Orthofix Medical worth $2,867,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. US Bancorp DE grew its stake in shares of Orthofix Medical by 684.6% during the first quarter. US Bancorp DE now owns 5,673 shares of the medical device company’s stock worth $93,000 after purchasing an additional 4,950 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Orthofix Medical in the second quarter valued at $147,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its holdings in Orthofix Medical by 32.6% during the 2nd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 13,297 shares of the medical device company’s stock worth $148,000 after buying an additional 3,271 shares during the last quarter. Strs Ohio acquired a new position in shares of Orthofix Medical during the 1st quarter worth about $150,000. Finally, Arrowstreet Capital Limited Partnership increased its holdings in shares of Orthofix Medical by 32.6% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 17,550 shares of the medical device company’s stock valued at $196,000 after acquiring an additional 4,314 shares during the last quarter. 89.76% of the stock is currently owned by institutional investors and hedge funds.

Orthofix Medical Stock Up 1.0%

OFIX stock opened at $15.83 on Thursday. Orthofix Medical Inc. has a one year low of $10.24 and a one year high of $20.48. The stock has a market capitalization of $626.87 million, a PE ratio of -5.22 and a beta of 0.82. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.38 and a current ratio of 2.47. The company has a fifty day moving average of $15.26 and a 200-day moving average of $13.49.

Wall Street Analysts Forecast Growth

OFIX has been the subject of several recent analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Orthofix Medical in a research note on Wednesday, October 8th. Stifel Nicolaus initiated coverage on shares of Orthofix Medical in a report on Tuesday, October 28th. They set a “buy” rating and a $22.00 price objective on the stock. Finally, Barrington Research boosted their price objective on shares of Orthofix Medical from $17.00 to $18.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 5th. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $21.50.

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.