Orthofix Medical Inc. (NASDAQ:OFIX) Position Raised by Engine Capital Management LP

Engine Capital Management LP grew its holdings in shares of Orthofix Medical Inc. (NASDAQ:OFIX) by 11.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 3,368,665 shares of the medical device company’s stock after purchasing an additional 333,364 shares during the period. Orthofix Medical makes up approximately 8.4% of Engine Capital Management LP’s holdings, making the stock its 2nd largest position. Engine Capital Management LP owned approximately 0.09% of Orthofix Medical worth $44,668,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in OFIX. nVerses Capital LLC bought a new position in Orthofix Medical during the 2nd quarter valued at approximately $27,000. Quest Partners LLC bought a new stake in Orthofix Medical in the second quarter worth $64,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Orthofix Medical by 25.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,435 shares of the medical device company’s stock worth $125,000 after acquiring an additional 1,919 shares during the last quarter. Arizona State Retirement System purchased a new position in shares of Orthofix Medical in the 2nd quarter worth about $139,000. Finally, XTX Topco Ltd purchased a new position in Orthofix Medical in the second quarter worth about $175,000. 89.76% of the stock is owned by institutional investors.

Orthofix Medical Stock Down 1.9 %

OFIX opened at $15.91 on Tuesday. Orthofix Medical Inc. has a twelve month low of $9.57 and a twelve month high of $17.67. The company has a quick ratio of 1.13, a current ratio of 2.48 and a debt-to-equity ratio of 0.24. The firm has a 50 day moving average price of $16.43 and a 200-day moving average price of $14.74. The stock has a market capitalization of $597.09 million, a price-to-earnings ratio of -4.71 and a beta of 1.05.

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

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.