Great Lakes Advisors LLC Reduces Position in Orthofix Medical Inc. $OFIX

Key Points

• Great Lakes Advisors LLC reduced its stake in Orthofix Medical Inc. by 13.8%, selling 31,723 shares and maintaining about 0.51% ownership valued at $3.22 million.
• Orthofix Medical reported a quarterly loss of ($0.36) EPS, missing analysts' estimates, despite achieving revenue of $203.12 million for the quarter.
• The company's stock has shown recent volatility, with a current P/E ratio of -4.50, and shares trading down 2.5% at $14.25.

Great Lakes Advisors LLC lowered its position in Orthofix Medical Inc. (NASDAQ:OFIX - Free Report) by 13.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 197,551 shares of the medical device company's stock after selling 31,723 shares during the period. Great Lakes Advisors LLC owned 0.51% of Orthofix Medical worth $3,222,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Lazard Asset Management LLC acquired a new position in shares of Orthofix Medical during the fourth quarter worth approximately $45,000. US Bancorp DE grew its position in Orthofix Medical by 684.6% in the 1st quarter. US Bancorp DE now owns 5,673 shares of the medical device company's stock valued at $93,000 after purchasing an additional 4,950 shares during the period. State of Wyoming increased its stake in Orthofix Medical by 206.8% during the 4th quarter. State of Wyoming now owns 9,432 shares of the medical device company's stock valued at $165,000 after purchasing an additional 6,358 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in Orthofix Medical during the 1st quarter valued at $164,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Orthofix Medical by 42.5% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,053 shares of the medical device company's stock worth $229,000 after buying an additional 4,192 shares during the last quarter. Institutional investors own 89.76% of the company's stock.

Insider Buying and Selling at Orthofix Medical

In other news, insider Aviva Mcpherron sold 3,728 shares of the firm's stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $10.51, for a total transaction of $39,181.28. Following the completion of the sale, the insider owned 46,322 shares in the company, valued at $486,844.22. This trade represents a 7.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

OFIX has been the subject of several recent research reports. Wall Street Zen raised shares of Orthofix Medical from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. JMP Securities reiterated a "market perform" rating on shares of Orthofix Medical in a research note on Friday, June 6th. Finally, Barrington Research raised Orthofix Medical to a "strong-buy" rating and set a $16.00 price objective for the company in a report on Monday, June 23rd. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $21.50.

Orthofix Medical Stock Performance

Shares of OFIX stock traded down $0.09 during trading on Friday, hitting $14.91. The company's stock had a trading volume of 517,542 shares, compared to its average volume of 430,615. The business has a fifty day moving average of $12.90 and a 200-day moving average of $13.24. The company has a current ratio of 2.67, a quick ratio of 1.50 and a debt-to-equity ratio of 0.38. Orthofix Medical Inc. has a 52 week low of $10.24 and a 52 week high of $20.73. The company has a market cap of $588.86 million, a PE ratio of -4.70 and a beta of 0.86.

Orthofix Medical (NASDAQ:OFIX - Get Free Report) last announced its earnings results on Tuesday, August 5th. The medical device company reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.40). The business had revenue of $203.12 million for the quarter, compared to analysts' expectations of $196.89 million. Orthofix Medical had a negative net margin of 15.29% and a negative return on equity of 25.43%. Orthofix Medical has set its FY 2025 guidance at EPS. As a group, research analysts anticipate that Orthofix Medical Inc. will post -2.81 earnings per share for the current year.

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.