Orthofix Medical Inc. (NASDAQ:OFIX) Shares Acquired by Renaissance Technologies LLC

Renaissance Technologies LLC lifted its position in shares of Orthofix Medical Inc. (NASDAQ:OFIX - Free Report) by 166.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 82,190 shares of the medical device company's stock after purchasing an additional 51,399 shares during the quarter. Renaissance Technologies LLC owned about 0.22% of Orthofix Medical worth $1,435,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Franklin Resources Inc. grew its stake in Orthofix Medical by 37.4% during the third quarter. Franklin Resources Inc. now owns 20,960 shares of the medical device company's stock worth $337,000 after buying an additional 5,702 shares during the period. Barclays PLC lifted its position in shares of Orthofix Medical by 38.8% during the third quarter. Barclays PLC now owns 122,472 shares of the medical device company's stock worth $1,912,000 after purchasing an additional 34,210 shares in the last quarter. Kirr Marbach & Co. LLC IN purchased a new position in shares of Orthofix Medical in the fourth quarter valued at $532,000. JPMorgan Chase & Co. grew its holdings in Orthofix Medical by 480.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 84,379 shares of the medical device company's stock valued at $1,318,000 after purchasing an additional 69,848 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Orthofix Medical during the 4th quarter worth $1,003,000. Institutional investors and hedge funds own 89.76% of the company's stock.

Orthofix Medical Stock Up 1.8 %

Shares of OFIX stock traded up $0.24 during trading hours on Friday, hitting $13.79. 160,277 shares of the company were exchanged, compared to its average volume of 254,725. 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 stock has a market capitalization of $538.11 million, a price-to-earnings ratio of -4.41 and a beta of 0.99. Orthofix Medical Inc. has a one year low of $12.08 and a one year high of $20.73. The business's 50-day simple moving average is $15.34 and its two-hundred day simple moving average is $17.04.

Insiders Place Their Bets

In related news, insider Lucas Vitale sold 4,287 shares of the company's stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $16.60, for a total transaction of $71,164.20. Following the sale, the insider now directly owns 135,317 shares of the company's stock, valued at approximately $2,246,262.20. This represents a 3.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jorge Andres Cedron sold 3,816 shares of Orthofix Medical stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $13.31, for a total transaction of $50,790.96. Following the completion of the transaction, the insider now directly owns 42,500 shares of the company's stock, valued at approximately $565,675. This represents a 8.24 % 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 valued at $141,710 in the last quarter. Insiders own 2.60% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on OFIX shares. Canaccord Genuity Group reissued a "buy" rating and issued a $24.00 price objective on shares of Orthofix Medical in a research report on Wednesday, February 26th. Roth Mkm restated a "buy" rating and set a $22.00 price objective on shares of Orthofix Medical in a research note on Wednesday, February 26th. Finally, StockNews.com raised Orthofix Medical from a "hold" rating to a "buy" rating in a research report on Tuesday, February 25th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $23.33.

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.