Soleus Capital Management L.P. Boosts Stake in Orthofix Medical Inc. (NASDAQ:OFIX)

Soleus Capital Management L.P. raised its stake in shares of Orthofix Medical Inc. (NASDAQ:OFIX - Free Report) by 13.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 686,374 shares of the medical device company's stock after buying an additional 79,441 shares during the period. Soleus Capital Management L.P. owned about 1.80% of Orthofix Medical worth $11,984,000 as of its most recent SEC filing.

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

Orthofix Medical Price Performance

Shares of NASDAQ OFIX traded down $0.13 during mid-day trading on Friday, hitting $11.10. 572,966 shares of the company's stock traded hands, compared to its average volume of 267,272. The company's 50-day moving average is $13.89 and its two-hundred day moving average is $16.59. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.39 and a quick ratio of 1.11. The company has a market capitalization of $433.14 million, a P/E ratio of -3.55 and a beta of 0.87. Orthofix Medical Inc. has a 1 year low of $10.50 and a 1 year high of $20.73.

Insider Activity

In other Orthofix Medical news, major shareholder Engine Capital Management, Lp bought 100,000 shares of the firm's stock in a transaction dated 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 $43,636,574.17. This represents a 2.90% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Lucas Vitale sold 4,287 shares of the company's stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $16.60, for a total transaction of $71,164.20. Following the sale, the insider now owns 135,317 shares in the company, valued at $2,246,262.20. This represents a 3.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,475 shares of company stock worth $128,065. 1.30% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

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

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.