Algert Global LLC Has $3.20 Million Position in Orthofix Medical Inc. (NASDAQ:OFIX)

Algert Global LLC cut its holdings in shares of Orthofix Medical Inc. (NASDAQ:OFIX - Free Report) by 14.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 183,143 shares of the medical device company's stock after selling 31,302 shares during the period. Algert Global LLC owned approximately 0.48% of Orthofix Medical worth $3,198,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. R Squared Ltd acquired a new position in shares of Orthofix Medical in the fourth quarter valued at approximately $50,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Orthofix Medical in the 4th quarter valued at about $112,000. Tower Research Capital LLC TRC boosted its position in shares of Orthofix Medical by 120.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 8,458 shares of the medical device company's stock worth $148,000 after buying an additional 4,627 shares during the period. XTX Topco Ltd acquired a new stake in Orthofix Medical in the 4th quarter valued at approximately $234,000. Finally, Inceptionr LLC bought a new stake in Orthofix Medical in the 4th quarter valued at approximately $279,000. 89.76% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, major shareholder Engine Capital Management, Lp acquired 100,000 shares of the stock in a transaction on Wednesday, May 7th. The shares were purchased at an average price of $12.31 per share, for a total transaction of $1,231,000.00. Following the transaction, the insider now directly owns 3,544,807 shares of the company's stock, valued at approximately $43,636,574.17. This represents a 2.90 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Lucas Vitale sold 4,287 shares of the business's stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $16.60, for a total value of $71,164.20. Following the completion of the sale, the insider now owns 135,317 shares of the company's stock, valued at approximately $2,246,262.20. This trade represents a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,475 shares of company stock valued at $128,065. 2.60% of the stock is owned by insiders.

Orthofix Medical Stock Performance

Orthofix Medical stock traded down $0.20 during midday trading on Friday, reaching $12.11. 568,612 shares of the company's stock were exchanged, compared to its average volume of 259,511. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.11 and a current ratio of 2.39. The stock's 50-day simple moving average is $14.86 and its 200 day simple moving average is $16.91. The firm has a market cap of $472.56 million, a price-to-earnings ratio of -3.87 and a beta of 0.87. Orthofix Medical Inc. has a 52 week low of $10.50 and a 52 week high of $20.73.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on OFIX. Canaccord Genuity Group reiterated a "buy" rating and issued a $24.00 price objective on shares of Orthofix Medical in a report on Wednesday, February 26th. StockNews.com downgraded shares of Orthofix Medical from a "buy" rating to a "hold" rating in a research note on Wednesday. Finally, Roth Mkm reiterated a "buy" rating and set a $22.00 target price on shares of Orthofix Medical in a report on Wednesday, February 26th.

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.