Dimensional Fund Advisors LP Grows Holdings in Orthofix Medical Inc. (NASDAQ:OFIX)

Dimensional Fund Advisors LP boosted its holdings in shares of Orthofix Medical Inc. (NASDAQ:OFIX - Free Report) by 31.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 659,475 shares of the medical device company's stock after buying an additional 159,177 shares during the quarter. Dimensional Fund Advisors LP owned 1.73% of Orthofix Medical worth $11,515,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. XTX Topco Ltd acquired a new stake in shares of Orthofix Medical in the fourth quarter valued at $234,000. F M Investments LLC purchased a new position in shares of Orthofix Medical in the 4th quarter valued at about $461,000. Raymond James Financial Inc. acquired a new position in shares of Orthofix Medical during the fourth quarter worth about $1,003,000. Renaissance Technologies LLC increased its stake 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 worth $1,435,000 after buying an additional 51,399 shares during the period. Finally, Invesco Ltd. increased its stake in shares of Orthofix Medical by 1.0% during the fourth quarter. Invesco Ltd. now owns 74,977 shares of the medical device company's stock worth $1,309,000 after buying an additional 767 shares during the period. Hedge funds and other institutional investors own 89.76% of the company's stock.

Analyst Ratings Changes

Several research firms have commented on OFIX. Roth Mkm reiterated a "buy" rating and set a $22.00 price target on shares of Orthofix Medical in a report on Wednesday, February 26th. StockNews.com cut shares of Orthofix Medical from a "buy" rating to a "hold" rating in a research report on Wednesday, May 7th. Finally, Canaccord Genuity Group reissued a "buy" rating and issued a $24.00 target price on shares of Orthofix Medical in a report on Wednesday, February 26th.

Insiders Place Their Bets

In related news, major shareholder Engine Capital Management, Lp purchased 100,000 shares of the business's stock in a transaction that occurred on Wednesday, May 7th. The shares were purchased at an average cost of $12.31 per share, for a total transaction of $1,231,000.00. Following the purchase, the insider now directly owns 3,544,807 shares of the company's stock, valued at $43,636,574.17. The trade was a 2.90% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jorge Andres Cedron sold 3,816 shares of the business's stock in a transaction 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 sale, the insider now directly owns 42,500 shares of the company's stock, valued at approximately $565,675. This trade represents a 8.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 8,475 shares of company stock valued at $128,065. 1.30% of the stock is owned by corporate insiders.

Orthofix Medical Stock Up 1.2%

OFIX traded up $0.14 on Thursday, reaching $12.11. The company's stock had a trading volume of 119,636 shares, compared to its average volume of 259,890. The company has a market capitalization of $472.63 million, a price-to-earnings ratio of -3.85 and a beta of 0.87. Orthofix Medical Inc. has a fifty-two week low of $10.50 and a fifty-two week high of $20.73. The company has a quick ratio of 1.11, a current ratio of 2.39 and a debt-to-equity ratio of 0.25. The stock has a 50 day moving average of $14.58 and a two-hundred day moving average of $16.83.

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.