Millennium Management LLC Sells 33,052 Shares of Orthofix Medical Inc. (NASDAQ:OFIX)

Millennium Management LLC lowered its holdings in Orthofix Medical Inc. (NASDAQ:OFIX - Free Report) by 17.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 161,308 shares of the medical device company's stock after selling 33,052 shares during the quarter. Millennium Management LLC owned 0.42% of Orthofix Medical worth $2,816,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in OFIX. Rhumbline Advisers lifted its holdings in shares of Orthofix Medical by 1.2% during the fourth quarter. Rhumbline Advisers now owns 54,989 shares of the medical device company's stock valued at $960,000 after acquiring an additional 661 shares during the period. Invesco Ltd. lifted its holdings in Orthofix Medical by 1.0% during the 4th quarter. Invesco Ltd. now owns 74,977 shares of the medical device company's stock valued at $1,309,000 after purchasing an additional 767 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Orthofix Medical by 4.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,348 shares of the medical device company's stock valued at $338,000 after purchasing an additional 836 shares during the last quarter. Swiss National Bank boosted its position in Orthofix Medical by 2.6% in the fourth quarter. Swiss National Bank now owns 67,600 shares of the medical device company's stock valued at $1,180,000 after buying an additional 1,700 shares in the last quarter. Finally, Victory Capital Management Inc. grew its stake in Orthofix Medical by 2.9% during the fourth quarter. Victory Capital Management Inc. now owns 66,675 shares of the medical device company's stock worth $1,164,000 after buying an additional 1,868 shares during the last quarter. Institutional investors own 89.76% of the company's stock.

Orthofix Medical Price Performance

NASDAQ OFIX traded down $0.13 on Wednesday, hitting $10.90. 347,668 shares of the company were exchanged, compared to its average volume of 272,611. Orthofix Medical Inc. has a 1-year low of $10.50 and a 1-year high of $20.73. The firm has a 50 day moving average of $13.03 and a two-hundred day moving average of $16.18. The company has a current ratio of 2.39, a quick ratio of 1.11 and a debt-to-equity ratio of 0.25. The company has a market cap of $427.07 million, a P/E ratio of -3.48 and a beta of 0.80.

Insiders Place Their Bets

In other news, major shareholder Engine Capital Management, Lp acquired 100,000 shares of the firm's stock in a transaction 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 transaction, the insider now owns 3,544,807 shares of the company's stock, valued at approximately $43,636,574.17. This represents a 2.90% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Massimo Calafiore bought 10,000 shares of the stock in a transaction dated Friday, May 9th. The stock was purchased at an average cost of $12.54 per share, with a total value of $125,400.00. Following the completion of the purchase, the chief executive officer now directly owns 234,603 shares in the company, valued at approximately $2,941,921.62. This trade represents a 4.45% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders sold 8,475 shares of company stock valued at $128,065. Insiders own 1.30% of the company's stock.

Analyst Ratings Changes

OFIX has been the subject of several recent analyst reports. Canaccord Genuity Group reaffirmed a "buy" rating and set a $24.00 price objective on shares of Orthofix Medical in a report on Wednesday, February 26th. Roth Mkm restated a "buy" rating and set a $22.00 price target on shares of Orthofix Medical in a research report on Wednesday, February 26th. Finally, Wall Street Zen downgraded Orthofix Medical from a "buy" rating to a "hold" rating in a research report on Wednesday, May 7th.

Orthofix Medical Company Profile

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.