Russell Investments Group Ltd. Acquires 118,269 Shares of Orthofix Medical Inc. (NASDAQ:OFIX)

Russell Investments Group Ltd. lifted its holdings in Orthofix Medical Inc. (NASDAQ:OFIX - Free Report) by 102.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 233,979 shares of the medical device company's stock after purchasing an additional 118,269 shares during the quarter. Russell Investments Group Ltd. owned 0.64% of Orthofix Medical worth $3,154,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Orthofix Medical by 30.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,516 shares of the medical device company's stock valued at $101,000 after buying an additional 1,752 shares in the last quarter. State Board of Administration of Florida Retirement System bought a new position in Orthofix Medical during the 3rd quarter valued at $130,000. Teza Capital Management LLC bought a new stake in Orthofix Medical in the third quarter worth about $133,000. Arizona State Retirement System acquired a new stake in Orthofix Medical in the 4th quarter valued at about $138,000. Finally, Versor Investments LP bought a new position in shares of Orthofix Medical during the 3rd quarter valued at about $186,000. 89.76% of the stock is owned by institutional investors and hedge funds.

Orthofix Medical Stock Performance

NASDAQ OFIX traded up $0.44 during trading on Monday, reaching $15.08. 290,941 shares of the company's stock were exchanged, compared to its average volume of 405,795. The company has a current ratio of 2.65, a quick ratio of 1.19 and a debt-to-equity ratio of 0.23. Orthofix Medical Inc. has a fifty-two week low of $9.57 and a fifty-two week high of $21.60. The company's fifty day simple moving average is $13.73 and its 200-day simple moving average is $13.09.

Orthofix Medical (NASDAQ:OFIX - Get Free Report) last announced its quarterly earnings data on Tuesday, March 5th. The medical device company reported ($0.59) EPS for the quarter, beating analysts' consensus estimates of ($0.60) by $0.01. Orthofix Medical had a negative net margin of 16.64% and a negative return on equity of 14.24%. The firm had revenue of $200.42 million for the quarter. On average, research analysts expect that Orthofix Medical Inc. will post -1.43 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on OFIX. Roth Capital raised shares of Orthofix Medical from a "neutral" rating to a "buy" rating in a research note on Wednesday, May 8th. StockNews.com upgraded Orthofix Medical from a "sell" rating to a "hold" rating in a report on Wednesday, May 8th. Roth Mkm raised Orthofix Medical from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $15.00 to $20.00 in a research note on Wednesday, May 8th. Finally, JMP Securities reaffirmed a "market perform" rating on shares of Orthofix Medical in a research note on Monday, April 22nd. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $18.00.

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.