Cubist Systematic Strategies LLC Sells 46,780 Shares of Orthofix Medical Inc. (NASDAQ:OFIX)

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

A number of other institutional investors have also bought and sold shares of OFIX. Renaissance Technologies LLC raised its holdings in shares of Orthofix Medical by 166.9% during the fourth quarter. Renaissance Technologies LLC now owns 82,190 shares of the medical device company's stock valued at $1,435,000 after purchasing an additional 51,399 shares during the period. Barclays PLC raised 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 worth $1,912,000 after acquiring an additional 34,210 shares during the last quarter. Kirr Marbach & Co. LLC IN acquired a new stake in shares of Orthofix Medical in the 4th quarter worth about $532,000. JPMorgan Chase & Co. raised its holdings in shares of Orthofix Medical by 480.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 84,379 shares of the medical device company's stock worth $1,318,000 after acquiring an additional 69,848 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Orthofix Medical in the 4th quarter worth about $1,003,000. Institutional investors own 89.76% of the company's stock.

Analyst Ratings Changes

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

Insider Activity

In other news, insider Lucas Vitale sold 4,287 shares of the stock in a transaction that occurred on 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 represents a 3.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Engine Capital Management, Lp bought 100,000 shares of Orthofix Medical stock in a transaction dated Wednesday, May 7th. The shares were bought at an average cost of $12.31 per share, with a total value of $1,231,000.00. Following the completion of the transaction, the insider now directly owns 3,544,807 shares in the company, valued at approximately $43,636,574.17. This trade represents a 2.90% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 8,475 shares of company stock valued at $128,065 in the last three months. Company insiders own 1.30% of the company's stock.

Orthofix Medical Trading Up 1.9%

NASDAQ:OFIX opened at $12.20 on Friday. Orthofix Medical Inc. has a 52 week low of $10.50 and a 52 week high of $20.73. The firm has a 50-day moving average price of $14.49 and a two-hundred day moving average price of $16.81. The firm has a market cap of $476.07 million, a price-to-earnings ratio of -3.90 and a beta of 0.87. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.11 and a current ratio of 2.39.

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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