Orthofix Medical Inc. (NASDAQ:OFIX) Stake Boosted by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Orthofix Medical Inc. (NASDAQ:OFIX) by 60.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 55,472 shares of the medical device company’s stock after purchasing an additional 20,840 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.15% of Orthofix Medical worth $969,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. R Squared Ltd bought a new position in Orthofix Medical during the fourth quarter worth $50,000. Zurcher Kantonalbank Zurich Cantonalbank lifted 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 purchasing an additional 559 shares during the last quarter. Quest Partners LLC lifted its stake 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 purchasing an additional 9,063 shares during the last quarter. Inceptionr LLC bought a new position in Orthofix Medical during the fourth quarter worth $279,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Orthofix Medical in the third quarter valued at $270,000. 89.76% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. StockNews.com upgraded Orthofix Medical from a “hold” rating to a “buy” rating in a research note on Tuesday, February 25th. Roth Mkm reiterated a “buy” rating and issued a $22.00 target price on shares of Orthofix Medical in a research note on Wednesday, February 26th. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $24.00 target price on shares of Orthofix Medical in a research note on Wednesday, February 26th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $23.33.

Insider Activity

In related news, CEO Massimo Calafiore sold 10,078 shares of Orthofix Medical stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $16.83, for a total transaction 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. The trade was a 7.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Lucas Vitale sold 4,287 shares of Orthofix Medical stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $16.60, for a total value of $71,164.20. Following the transaction, the insider now directly owns 135,317 shares in the company, valued at approximately $2,246,262.20. The trade was a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 29,999 shares of company stock valued at $512,497. Company insiders own 2.60% of the company’s stock.

Orthofix Medical Price Performance

Shares of OFIX opened at $16.90 on Friday. The firm has a market capitalization of $659.47 million, a price-to-earnings ratio of -5.40 and a beta of 1.06. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.11 and a current ratio of 2.39. Orthofix Medical Inc. has a one year low of $12.08 and a one year high of $20.73. The stock’s fifty day moving average is $17.78 and its 200-day moving average is $17.37.

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.