Orthofix Medical Inc. $OFIX Holdings Lifted by Tudor Investment Corp ET AL

Key Points

• Tudor Investment Corp ET AL boosted its stake in Orthofix by 268.8% in Q3, adding 158,197 shares to hold 217,044 shares (about 0.55% of the company) valued at roughly $3.18 million.
• Orthofix trades near $12.38 with a market cap of about $497 million; the company reported a quarterly loss (EPS -$0.06) on $219.9 million revenue, has negative margins and ROE, and analysts’ consensus is a Hold with a $17.25 average target and expected -2.81 EPS for the year.
• Notable ownership moves: Engine Capital purchased 13,061 shares while CEO Massimo Calafiore sold 9,797 shares; institutional investors own 89.76% of shares while insiders hold 1.30%.

Tudor Investment Corp ET AL grew its position in Orthofix Medical Inc. (NASDAQ:OFIX - Free Report) by 268.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 217,044 shares of the medical device company's stock after purchasing an additional 158,197 shares during the period. Tudor Investment Corp ET AL owned approximately 0.55% of Orthofix Medical worth $3,178,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. CWM LLC grew its position in Orthofix Medical by 99.0% in the 3rd quarter. CWM LLC now owns 1,920 shares of the medical device company's stock worth $28,000 after purchasing an additional 955 shares during the last quarter. State of Alaska Department of Revenue bought a new position in Orthofix Medical in the 3rd quarter worth about $30,000. Strs Ohio bought a new position in Orthofix Medical in the 1st quarter worth about $150,000. Mackenzie Financial Corp bought a new position in Orthofix Medical in the 3rd quarter worth about $148,000. Finally, Creative Planning bought a new position in Orthofix Medical in the 3rd quarter worth about $172,000. Institutional investors own 89.76% of the company's stock.

Orthofix Medical Trading Down 0.3%

Shares of NASDAQ:OFIX opened at $12.38 on Friday. The stock has a market capitalization of $496.93 million, a price-to-earnings ratio of -5.29 and a beta of 0.82. Orthofix Medical Inc. has a 1-year low of $10.24 and a 1-year high of $16.99. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.43 and a current ratio of 2.45. The company has a 50 day moving average price of $12.54 and a 200 day moving average price of $14.16.

Orthofix Medical (NASDAQ:OFIX - Get Free Report) last issued its earnings results on Saturday, February 14th. The medical device company reported ($0.06) earnings per share for the quarter. The business had revenue of $219.91 million for the quarter. Orthofix Medical had a negative return on equity of 20.38% and a negative net margin of 11.21%. On average, research analysts anticipate that Orthofix Medical Inc. will post -2.81 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Canaccord Genuity Group decreased their target price on shares of Orthofix Medical from $24.00 to $20.00 and set a "buy" rating for the company in a research report on Thursday, February 26th. Barrington Research reiterated an "outperform" rating and issued a $17.00 price objective on shares of Orthofix Medical in a report on Friday. Wall Street Zen upgraded shares of Orthofix Medical from a "hold" rating to a "buy" rating in a report on Saturday, March 7th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Orthofix Medical in a report on Thursday, January 22nd. Finally, TD Cowen started coverage on shares of Orthofix Medical in a report on Tuesday, January 27th. They issued a "hold" rating and a $14.00 price objective for the company. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Orthofix Medical currently has an average rating of "Hold" and a consensus target price of $17.25.

Insider Activity

In other news, major shareholder Engine Capital Management, Lp purchased 13,061 shares of Orthofix Medical stock in a transaction that occurred on Wednesday, February 25th. The stock was acquired at an average price of $12.96 per share, for a total transaction of $169,270.56. Following the transaction, the insider owned 3,673,092 shares in the company, valued at $47,603,272.32. The trade was a 0.36% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Massimo Calafiore sold 9,797 shares of the company's stock in a transaction that occurred on Monday, January 12th. The shares were sold at an average price of $15.21, for a total transaction of $149,012.37. Following the completion of the sale, the chief executive officer owned 217,237 shares of the company's stock, valued at approximately $3,304,174.77. This trade represents a 4.32% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 18,939 shares of company stock worth $269,973 in the last quarter. Insiders own 1.30% of the company's stock.

Orthofix Medical Company Profile

Orthofix Medical Inc NASDAQ: OFIX is a global medical device company focused on the design and development of innovative orthopedic and spinal solutions. The company's core business is divided into two segments: spine and orthopedics. In the spine segment, Orthofix offers a range of titanium implants, biologics and portable bone growth stimulation devices designed to support spinal fusion, deformity correction and minimally invasive procedures. Its orthopedic segment encompasses products for fracture fixation, external fixation systems, trauma care and sports medicine, providing surgeons with implantable devices and instruments for complex bone reconstruction and healing.

Orthofix's product portfolio includes strut systems, bone growth stimulators, interbody fusion devices and fixation hardware that address various indications such as degenerative disc disease, spinal deformities, non-unions and long-bone fractures.

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