Balyasny Asset Management L.P. Acquires 22,471 Shares of Orthofix Medical Inc. (NASDAQ:OFIX)

Balyasny Asset Management L.P. lifted its stake in shares of Orthofix Medical Inc. (NASDAQ:OFIX - Free Report) by 139.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 38,623 shares of the medical device company's stock after acquiring an additional 22,471 shares during the period. Balyasny Asset Management L.P. owned 0.10% of Orthofix Medical worth $674,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. R Squared Ltd purchased a new position in Orthofix Medical in the fourth quarter valued at about $50,000. KLP Kapitalforvaltning AS bought a new position in Orthofix Medical during the 4th quarter valued at $112,000. Tower Research Capital LLC TRC grew its holdings in Orthofix Medical by 120.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 8,458 shares of the medical device company's stock worth $148,000 after acquiring an additional 4,627 shares in the last quarter. XTX Topco Ltd bought a new stake in shares of Orthofix Medical in the 4th quarter worth about $234,000. Finally, Inceptionr LLC acquired a new stake in shares of Orthofix Medical in the 4th quarter valued at about $279,000. 89.76% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Roth Mkm reissued a "buy" rating and issued a $22.00 price objective on shares of Orthofix Medical in a report on Wednesday, February 26th. Canaccord Genuity Group reissued a "buy" rating and set a $24.00 price target on shares of Orthofix Medical in a research report on Wednesday, February 26th. Finally, StockNews.com lowered shares of Orthofix Medical from a "buy" rating to a "hold" rating in a research note on Wednesday, May 7th.

Insider Buying and Selling

In related news, major shareholder Engine Capital Management, Lp acquired 100,000 shares of the business's stock in a transaction dated Wednesday, May 7th. The stock was acquired at an average price of $12.31 per share, with a total value of $1,231,000.00. Following the completion of the transaction, the insider now owns 3,544,807 shares of the company's stock, valued at approximately $43,636,574.17. This represents a 2.90% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jorge Andres Cedron sold 3,816 shares of the business's stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $13.31, for a total value of $50,790.96. Following the transaction, the insider now owns 42,500 shares in the company, valued at $565,675. This represents a 8.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 8,475 shares of company stock valued at $128,065. Company insiders own 1.30% of the company's stock.

Orthofix Medical Stock Down 0.7%

Shares of NASDAQ:OFIX traded down $0.08 during trading on Monday, reaching $12.06. 334,389 shares of the company traded hands, compared to its average volume of 262,195. The firm has a fifty day simple moving average of $14.39 and a 200 day simple moving average of $16.78. The company has a quick ratio of 1.11, a current ratio of 2.39 and a debt-to-equity ratio of 0.25. Orthofix Medical Inc. has a 1-year low of $10.50 and a 1-year high of $20.73. The firm has a market cap of $470.61 million, a P/E ratio of -3.85 and a beta of 0.87.

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.