Jupiter Asset Management Ltd. Sells 44,034 Shares of Orthofix Medical Inc. (NASDAQ:OFIX)

Jupiter Asset Management Ltd. reduced its stake in Orthofix Medical Inc. (NASDAQ:OFIX) by 17.1% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 213,503 shares of the medical device company’s stock after selling 44,034 shares during the quarter. Jupiter Asset Management Ltd.’s holdings in Orthofix Medical were worth $2,831,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. GSA Capital Partners LLP bought a new stake in shares of Orthofix Medical during the 1st quarter valued at $921,000. Engine Capital Management LP bought a new stake in Orthofix Medical during the fourth quarter worth about $40,916,000. Boone Capital Management LLC bought a new stake in Orthofix Medical during the fourth quarter worth about $6,740,000. Charles Schwab Investment Management Inc. grew its stake in Orthofix Medical by 7.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 461,885 shares of the medical device company’s stock worth $6,226,000 after buying an additional 32,400 shares in the last quarter. Finally, Great Lakes Advisors LLC increased its holdings in Orthofix Medical by 15.1% in the 2nd quarter. Great Lakes Advisors LLC now owns 259,750 shares of the medical device company’s stock valued at $3,444,000 after buying an additional 34,114 shares during the period. Institutional investors and hedge funds own 89.76% of the company’s stock.

Orthofix Medical Stock Performance

Shares of Orthofix Medical stock opened at $16.76 on Friday. The company has a current ratio of 2.48, a quick ratio of 1.13 and a debt-to-equity ratio of 0.24. The company has a market cap of $639.73 million, a PE ratio of -4.96 and a beta of 1.05. The company has a 50 day moving average of $16.30 and a 200-day moving average of $14.61. Orthofix Medical Inc. has a 1-year low of $9.57 and a 1-year high of $17.67.

Orthofix Medical (NASDAQ:OFIX) last released its earnings results on Tuesday, August 6th. The medical device company reported ($0.88) earnings per share for the quarter, missing the consensus estimate of ($0.30) by ($0.58). Orthofix Medical had a negative return on equity of 20.68% and a negative net margin of 15.61%. The business had revenue of $198.62 million for the quarter, compared to the consensus estimate of $195.75 million. As a group, equities research analysts forecast that Orthofix Medical Inc. will post -2.13 earnings per share 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.