Boone Capital Management LLC Has $18.46 Million Stake in Orthofix Medical Inc. (NASDAQ:OFIX)

Boone Capital Management LLC boosted its stake in Orthofix Medical Inc. (NASDAQ:OFIX - Free Report) by 13.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,057,313 shares of the medical device company's stock after acquiring an additional 126,806 shares during the period. Orthofix Medical accounts for 6.2% of Boone Capital Management LLC's portfolio, making the stock its 7th largest position. Boone Capital Management LLC owned approximately 2.77% of Orthofix Medical worth $18,461,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Barclays PLC increased its holdings in shares of Orthofix Medical by 38.8% in the 3rd quarter. Barclays PLC now owns 122,472 shares of the medical device company's stock valued at $1,912,000 after acquiring an additional 34,210 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Orthofix Medical by 480.7% during the third quarter. JPMorgan Chase & Co. now owns 84,379 shares of the medical device company's stock worth $1,318,000 after purchasing an additional 69,848 shares during the period. SG Americas Securities LLC raised its holdings in shares of Orthofix Medical by 24.3% during the fourth quarter. SG Americas Securities LLC now owns 21,279 shares of the medical device company's stock worth $372,000 after purchasing an additional 4,162 shares during the period. Kirr Marbach & Co. LLC IN acquired a new position in shares of Orthofix Medical in the 4th quarter valued at about $532,000. Finally, R Squared Ltd acquired a new stake in Orthofix Medical during the fourth quarter worth about $50,000. 89.76% of the stock is owned by institutional investors and hedge funds.

Orthofix Medical Trading Down 1.8 %

Shares of OFIX stock opened at $13.54 on Tuesday. Orthofix Medical Inc. has a 1 year low of $12.08 and a 1 year high of $20.73. The firm has a market capitalization of $528.36 million, a PE ratio of -4.33 and a beta of 0.87. The stock has a fifty day moving average of $15.27 and a two-hundred day moving average of $17.03. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.11 and a current ratio of 2.39.

Insider Buying and Selling

In other news, insider Lucas Vitale sold 4,287 shares of the company'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 directly owns 135,317 shares of the company's stock, valued at approximately $2,246,262.20. This represents a 3.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jorge Andres Cedron sold 3,816 shares of the stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $13.31, for a total transaction of $50,790.96. Following the completion of the transaction, the insider now owns 42,500 shares of the company's stock, valued at $565,675. This trade represents a 8.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 8,475 shares of company stock valued at $128,065 over the last 90 days. 2.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on OFIX. Canaccord Genuity Group reaffirmed a "buy" rating and set a $24.00 target price on shares of Orthofix Medical in a report on Wednesday, February 26th. Roth Mkm reaffirmed a "buy" rating and issued a $22.00 target price on shares of Orthofix Medical in a research report on Wednesday, February 26th. Finally, StockNews.com raised shares of Orthofix Medical from a "hold" rating to a "buy" rating in a report on Tuesday, February 25th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $23.33.

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.

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