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

Inspire Investing LLC acquired a new position in Orthofix Medical Inc. (NASDAQ:OFIX) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 26,687 shares of the medical device company’s stock, valued at approximately $417,000. Inspire Investing LLC owned approximately 0.07% of Orthofix Medical as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently bought and sold shares of OFIX. Armistice Capital LLC grew its stake in shares of Orthofix Medical by 1.4% during the 2nd quarter. Armistice Capital LLC now owns 3,750,000 shares of the medical device company’s stock worth $49,725,000 after purchasing an additional 50,000 shares during the period. Rubric Capital Management LP grew its position in Orthofix Medical by 0.8% during the second quarter. Rubric Capital Management LP now owns 3,694,946 shares of the medical device company’s stock worth $48,995,000 after buying an additional 29,946 shares during the period. Engine Capital Management LP increased its holdings in Orthofix Medical by 11.0% in the second quarter. Engine Capital Management LP now owns 3,368,665 shares of the medical device company’s stock valued at $44,668,000 after buying an additional 333,364 shares in the last quarter. Paradigm Capital Management Inc. NY lifted its position in shares of Orthofix Medical by 31.3% during the 2nd quarter. Paradigm Capital Management Inc. NY now owns 2,556,100 shares of the medical device company’s stock valued at $33,894,000 after acquiring an additional 609,137 shares during the period. Finally, Vanguard Group Inc. boosted its stake in shares of Orthofix Medical by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 2,008,816 shares of the medical device company’s stock worth $29,168,000 after acquiring an additional 9,150 shares in the last quarter. Institutional investors and hedge funds own 89.76% of the company’s stock.

Orthofix Medical Stock Performance

OFIX opened at $15.66 on Wednesday. Orthofix Medical Inc. has a 1-year low of $9.57 and a 1-year high of $17.67. The stock has a market cap of $587.70 million, a P/E ratio of -4.63 and a beta of 1.05. The stock’s 50 day simple moving average is $16.22 and its 200 day simple moving average is $14.90. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.48 and a quick ratio of 1.13.

Orthofix Medical (NASDAQ:OFIX) last posted 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 net margin of 15.61% and a negative return on equity of 20.68%. The firm had revenue of $198.62 million during the quarter, compared to analyst estimates of $195.75 million. As a group, equities analysts anticipate that Orthofix Medical Inc. will post -2.13 EPS for the current fiscal year.

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.