Cubist Systematic Strategies LLC Cuts Stake in Orthofix Medical Inc. (NASDAQ:OFIX)

Cubist Systematic Strategies LLC lessened its holdings in Orthofix Medical Inc. (NASDAQ:OFIX - Free Report) by 61.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 29,867 shares of the medical device company's stock after selling 46,780 shares during the quarter. Cubist Systematic Strategies LLC owned 0.08% of Orthofix Medical worth $521,000 as of its most recent filing with the Securities & Exchange Commission.

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

Orthofix Medical Stock Down 1.4%

Shares of NASDAQ OFIX traded down $0.17 during mid-day trading on Wednesday, hitting $11.82. 83,517 shares of the stock traded hands, compared to its average volume of 262,250. The company has a market cap of $461.24 million, a price-to-earnings ratio of -3.78 and a beta of 0.87. The stock has a fifty day moving average price of $14.21 and a 200-day moving average price of $16.72. Orthofix Medical Inc. has a 52 week low of $10.50 and a 52 week high of $20.73. 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 Activity

In related news, insider Lucas Vitale sold 4,287 shares of Orthofix Medical stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $16.60, for a total transaction of $71,164.20. Following the completion of the transaction, the insider now directly owns 135,317 shares of the company's stock, valued at $2,246,262.20. This trade represents a 3.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Massimo Calafiore acquired 10,000 shares of the company's stock in a transaction that occurred on Friday, May 9th. The shares were acquired at an average cost of $12.54 per share, for a total transaction of $125,400.00. Following the purchase, the chief executive officer now directly owns 234,603 shares of the company's stock, valued at $2,941,921.62. This represents a 4.45% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 8,475 shares of company stock worth $128,065. Corporate insiders own 1.30% of the company's stock.

Analysts Set New Price Targets

OFIX has been the subject of a number of analyst reports. StockNews.com lowered shares of Orthofix Medical from a "buy" rating to a "hold" rating in a report on Wednesday, May 7th. Roth Mkm restated a "buy" rating and set a $22.00 target price on shares of Orthofix Medical in a report on Wednesday, February 26th. Finally, Canaccord Genuity Group reaffirmed a "buy" rating and set a $24.00 target price on shares of Orthofix Medical in a research note 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.