Vanguard Group Inc. Has $31.97 Million Stock Holdings in Orthofix Medical Inc. (NASDAQ:OFIX)

Vanguard Group Inc. grew its holdings in Orthofix Medical Inc. (NASDAQ:OFIX - Free Report) by 3.3% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 2,486,073 shares of the medical device company's stock after acquiring an additional 79,793 shares during the quarter. Vanguard Group Inc. owned about 6.76% of Orthofix Medical worth $31,971,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in OFIX. BlackRock Inc. grew its stake in Orthofix Medical by 55.5% during the 1st quarter. BlackRock Inc. now owns 6,006,860 shares of the medical device company's stock worth $100,615,000 after buying an additional 2,144,154 shares during the last quarter. Rubric Capital Management LP lifted its position in Orthofix Medical by 43.6% during the 3rd quarter. Rubric Capital Management LP now owns 3,434,665 shares of the medical device company's stock worth $44,170,000 after acquiring an additional 1,042,253 shares during the period. State Street Corp lifted its position in Orthofix Medical by 78.9% during the 1st quarter. State Street Corp now owns 1,565,916 shares of the medical device company's stock worth $26,229,000 after acquiring an additional 690,819 shares during the period. Dimensional Fund Advisors LP lifted its position in Orthofix Medical by 87.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,150,041 shares of the medical device company's stock worth $19,262,000 after acquiring an additional 537,596 shares during the period. Finally, Armistice Capital LLC lifted its position in Orthofix Medical by 21.7% during the 3rd quarter. Armistice Capital LLC now owns 2,964,000 shares of the medical device company's stock worth $38,117,000 after acquiring an additional 528,000 shares during the period. Hedge funds and other institutional investors own 89.76% of the company's stock.

Wall Street Analysts Forecast Growth

OFIX has been the subject of a number of recent research reports. StockNews.com cut Orthofix Medical from a "hold" rating to a "sell" rating in a research report on Wednesday, March 6th. Roth Mkm raised their price target on Orthofix Medical from $12.00 to $15.00 and gave the company a "neutral" rating in a report on Thursday, March 7th.

Orthofix Medical Price Performance

NASDAQ OFIX traded down $0.63 during mid-day trading on Friday, hitting $13.32. The stock had a trading volume of 309,399 shares, compared to its average volume of 413,882. Orthofix Medical Inc. has a 52-week low of $9.57 and a 52-week high of $21.60. The company has a market cap of $498.26 million, a price-to-earnings ratio of -3.22 and a beta of 1.04. The company has a 50 day simple moving average of $13.88 and a 200 day simple moving average of $12.88. The company has a quick ratio of 1.20, a current ratio of 2.54 and a debt-to-equity ratio of 0.19.

Orthofix Medical (NASDAQ:OFIX - Get Free Report) last released its quarterly earnings data on Tuesday, March 5th. The medical device company reported ($0.59) earnings per share 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 firm had revenue of $200.42 million during the quarter. Equities analysts forecast that Orthofix Medical Inc. will post -1.51 EPS for the current fiscal year.

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.