Inspire Investing LLC Decreases Stake in Orthofix Medical Inc. (NASDAQ:OFIX)

Inspire Investing LLC reduced its position in Orthofix Medical Inc. (NASDAQ:OFIX) by 14.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,783 shares of the medical device company’s stock after selling 3,904 shares during the period. Inspire Investing LLC’s holdings in Orthofix Medical were worth $398,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Orthofix Medical by 5.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,994 shares of the medical device company’s stock worth $156,000 after acquiring an additional 559 shares during the last quarter. XTX Topco Ltd purchased a new stake in shares of Orthofix Medical in the second quarter valued at approximately $175,000. Assenagon Asset Management S.A. purchased a new stake in shares of Orthofix Medical in the third quarter valued at approximately $216,000. Quest Partners LLC lifted its holdings in Orthofix Medical by 187.1% during the third quarter. Quest Partners LLC now owns 13,908 shares of the medical device company’s stock worth $217,000 after buying an additional 9,063 shares during the period. Finally, SG Americas Securities LLC lifted its holdings in Orthofix Medical by 74.0% during the third quarter. SG Americas Securities LLC now owns 17,117 shares of the medical device company’s stock worth $267,000 after buying an additional 7,278 shares during the period. 89.76% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on OFIX shares. Roth Mkm restated a “buy” rating and set a $22.00 target price (up previously from $20.00) on shares of Orthofix Medical in a report on Friday, November 8th. Stifel Nicolaus raised Orthofix Medical from a “hold” rating to a “buy” rating and upped their target price for the company from $18.00 to $24.00 in a research report on Friday, November 8th. Finally, Canaccord Genuity Group began coverage on Orthofix Medical in a research report on Wednesday, January 22nd. They set a “buy” rating and a $24.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Orthofix Medical has a consensus rating of “Moderate Buy” and a consensus target price of $23.33.

Orthofix Medical Price Performance

NASDAQ:OFIX opened at $18.59 on Wednesday. Orthofix Medical Inc. has a 52 week low of $12.08 and a 52 week high of $20.73. The company has a quick ratio of 1.11, a current ratio of 2.39 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $710.32 million, a PE ratio of -5.94 and a beta of 1.10. The stock’s 50-day moving average price is $18.08 and its 200-day moving average price is $17.03.

Orthofix Medical (NASDAQ:OFIX) last issued its quarterly earnings results on Thursday, November 7th. The medical device company reported ($0.71) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.57). The company had revenue of $196.61 million during the quarter, compared to analysts’ expectations of $196.60 million. Orthofix Medical had a negative net margin of 15.18% and a negative return on equity of 21.25%. During the same period in the prior year, the business posted ($0.77) earnings per share. As a group, equities analysts expect that Orthofix Medical Inc. will post -2.81 EPS for the current fiscal year.

Insider Activity at Orthofix Medical

In other Orthofix Medical news, CEO Massimo Calafiore sold 10,078 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $16.83, for a total value of $169,612.74. Following the transaction, the chief executive officer now directly owns 133,354 shares of the company’s stock, valued at $2,244,347.82. This trade represents a 7.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Julie Andrews sold 4,655 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $17.89, for a total transaction of $83,277.95. Following the sale, the chief financial officer now owns 28,312 shares of the company’s stock, valued at $506,501.68. This represents a 14.12 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,675 shares of company stock valued at $423,238. 2.60% of the stock is owned by corporate insiders.

Orthofix Medical 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.