HighMark Wealth Management LLC Sells 107,987 Shares of Orthofix Medical Inc. (NASDAQ:OFIX)

HighMark Wealth Management LLC cut its position in shares of Orthofix Medical Inc. (NASDAQ:OFIX - Free Report) by 93.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,073 shares of the medical device company's stock after selling 107,987 shares during the period. HighMark Wealth Management LLC's holdings in Orthofix Medical were worth $95,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. BlackRock Inc. grew its position in Orthofix Medical by 55.5% in the first quarter. BlackRock Inc. now owns 6,006,860 shares of the medical device company's stock valued at $100,615,000 after acquiring an additional 2,144,154 shares during the period. Rubric Capital Management LP grew its position in Orthofix Medical by 43.6% in the third quarter. Rubric Capital Management LP now owns 3,434,665 shares of the medical device company's stock valued at $44,170,000 after acquiring an additional 1,042,253 shares during the period. State Street Corp grew its position in Orthofix Medical by 78.9% in the first quarter. State Street Corp now owns 1,565,916 shares of the medical device company's stock valued at $26,229,000 after acquiring an additional 690,819 shares during the period. Dimensional Fund Advisors LP grew its position in Orthofix Medical by 87.8% in the first quarter. Dimensional Fund Advisors LP now owns 1,150,041 shares of the medical device company's stock valued at $19,262,000 after acquiring an additional 537,596 shares during the period. Finally, Armistice Capital LLC grew its position in Orthofix Medical by 21.7% in the third quarter. Armistice Capital LLC now owns 2,964,000 shares of the medical device company's stock valued at $38,117,000 after acquiring an additional 528,000 shares during the period. 89.76% of the stock is currently owned by institutional investors.

Orthofix Medical Price Performance

Orthofix Medical stock traded down $0.46 on Monday, reaching $14.06. The company's stock had a trading volume of 324,261 shares, compared to its average volume of 442,914. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.20 and a current ratio of 2.54. Orthofix Medical Inc. has a twelve month low of $9.57 and a twelve month high of $21.60. The company has a market cap of $525.98 million, a price-to-earnings ratio of -3.40 and a beta of 1.04. The business's fifty day moving average price is $13.93 and its 200 day moving average price is $12.81.

Orthofix Medical (NASDAQ:OFIX - Get Free Report) last issued its quarterly earnings results on Tuesday, March 5th. The medical device company reported ($0.59) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.60) by $0.01. Orthofix Medical had a negative return on equity of 10.63% and a negative net margin of 20.28%. The business had revenue of $200.42 million for the quarter. Equities analysts expect that Orthofix Medical Inc. will post -1.51 earnings per share for the current fiscal year.

Analyst Ratings Changes

OFIX has been the topic of a number of recent analyst reports. StockNews.com lowered Orthofix Medical from a "hold" rating to a "sell" rating in a research note on Wednesday, March 6th. Roth Mkm boosted their price objective on Orthofix Medical from $12.00 to $15.00 and gave the stock a "neutral" rating in a research note on Thursday, March 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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