JPMorgan Chase & Co. Purchases 205,972 Shares of Orthofix Medical Inc. (NASDAQ:OFIX)

JPMorgan Chase & Co. raised its holdings in shares of Orthofix Medical Inc. (NASDAQ:OFIX - Free Report) by 244.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 290,351 shares of the medical device company's stock after acquiring an additional 205,972 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.76% of Orthofix Medical worth $5,070,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. R Squared Ltd bought a new stake in Orthofix Medical during the fourth quarter valued at about $50,000. KLP Kapitalforvaltning AS purchased a new position in shares of Orthofix Medical during the fourth quarter valued at about $112,000. Inceptionr LLC purchased a new position in shares of Orthofix Medical during the fourth quarter valued at about $279,000. Fox Run Management L.L.C. purchased a new position in shares of Orthofix Medical during the fourth quarter valued at about $327,000. Finally, Franklin Resources Inc. grew its position in shares of Orthofix Medical by 37.4% during the third quarter. Franklin Resources Inc. now owns 20,960 shares of the medical device company's stock valued at $337,000 after purchasing an additional 5,702 shares in the last quarter. 89.76% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Orthofix Medical news, insider Jorge Andres Cedron sold 3,816 shares of the stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $13.31, for a total value of $50,790.96. Following the sale, the insider now owns 42,500 shares in the company, valued at $565,675. This trade represents a 8.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Lucas Vitale sold 4,287 shares of the stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $16.60, for a total value of $71,164.20. Following the completion of the sale, the insider now owns 135,317 shares in the company, valued at approximately $2,246,262.20. The trade was a 3.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,242 shares of company stock worth $141,710 over the last quarter. Company insiders own 2.60% of the company's stock.

Orthofix Medical Trading Up 3.0 %

Orthofix Medical stock traded up $0.40 during mid-day trading on Thursday, hitting $13.83. The company's stock had a trading volume of 49,688 shares, compared to its average volume of 257,351. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.11 and a current ratio of 2.39. The company has a 50 day moving average of $15.94 and a 200-day moving average of $17.10. Orthofix Medical Inc. has a one year low of $12.08 and a one year high of $20.73. The stock has a market cap of $539.75 million, a PE ratio of -4.41 and a beta of 0.99.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. StockNews.com upgraded Orthofix Medical from a "hold" rating to a "buy" rating in a research report on Tuesday, February 25th. Canaccord Genuity Group reiterated a "buy" rating and issued a $24.00 price target on shares of Orthofix Medical in a research report on Wednesday, February 26th. Finally, Roth Mkm reiterated a "buy" rating and issued a $22.00 price target on shares of Orthofix Medical in a research report on Wednesday, February 26th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, Orthofix Medical has an average rating of "Buy" and an average price target of $23.33.

Orthofix Medical 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.