Northern Trust Corp Buys 29,768 Shares of Orthofix Medical Inc. (NASDAQ:OFIX)

Northern Trust Corp increased its stake in shares of Orthofix Medical Inc. (NASDAQ:OFIX - Free Report) by 8.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 368,088 shares of the medical device company's stock after acquiring an additional 29,768 shares during the quarter. Northern Trust Corp owned approximately 0.96% of Orthofix Medical worth $6,427,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in OFIX. R Squared Ltd purchased a new stake in Orthofix Medical during the fourth quarter valued at $50,000. KLP Kapitalforvaltning AS bought a new stake in shares of Orthofix Medical during the 4th quarter worth approximately $112,000. Tower Research Capital LLC TRC lifted its stake in shares of 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 worth $148,000 after acquiring an additional 4,627 shares during the last quarter. XTX Topco Ltd bought a new stake in Orthofix Medical during the 4th quarter valued at $234,000. Finally, Inceptionr LLC bought a new stake in Orthofix Medical during the 4th quarter valued at $279,000. 89.76% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Massimo Calafiore acquired 10,000 shares of the business's stock in a transaction that occurred on Friday, May 9th. The stock was purchased at an average cost of $12.54 per share, for a total transaction of $125,400.00. Following the transaction, the chief executive officer now directly owns 234,603 shares of the company's stock, valued at approximately $2,941,921.62. This trade represents a 4.45% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Engine Capital Management, Lp purchased 100,000 shares of the business's stock in a transaction on Wednesday, May 7th. The stock was acquired at an average price of $12.31 per share, with a total value of $1,231,000.00. Following the completion of the acquisition, the insider now directly owns 3,544,807 shares in the company, valued at $43,636,574.17. The trade was a 2.90% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 8,475 shares of company stock valued at $128,065. 1.30% of the stock is currently owned by insiders.

Orthofix Medical Trading Down 0.7%

Shares of Orthofix Medical stock opened at $12.06 on Tuesday. Orthofix Medical Inc. has a fifty-two week low of $10.50 and a fifty-two week high of $20.73. The stock has a 50 day moving average of $14.29 and a 200 day moving average of $16.75. The firm has a market capitalization of $470.61 million, a price-to-earnings ratio of -3.85 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.

Analysts Set New Price Targets

Several brokerages recently weighed in on OFIX. Canaccord Genuity Group restated a "buy" rating and set a $24.00 target price on shares of Orthofix Medical in a research note on Wednesday, February 26th. Roth Mkm reaffirmed a "buy" rating and issued a $22.00 price target on shares of Orthofix Medical in a report on Wednesday, February 26th. Finally, StockNews.com lowered Orthofix Medical from a "buy" rating to a "hold" rating in a research note 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.

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