Renaissance Technologies LLC Has $38.50 Million Stake in Orthofix Medical Inc (OFIX)
Renaissance Technologies LLC raised its holdings in shares of Orthofix Medical Inc (NASDAQ:OFIX) by 3.2% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 677,500 shares of the medical device company’s stock after acquiring an additional 21,021 shares during the quarter. Renaissance Technologies LLC owned approximately 3.61% of Orthofix Medical worth $38,496,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in the company. BlackRock Inc. boosted its position in shares of Orthofix Medical by 4.3% in the 2nd quarter. BlackRock Inc. now owns 2,766,105 shares of the medical device company’s stock valued at $157,170,000 after purchasing an additional 112,878 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Orthofix Medical by 0.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 884,685 shares of the medical device company’s stock valued at $50,268,000 after purchasing an additional 7,436 shares during the period. Acadian Asset Management LLC boosted its position in shares of Orthofix Medical by 7.2% in the 2nd quarter. Acadian Asset Management LLC now owns 354,315 shares of the medical device company’s stock valued at $20,132,000 after purchasing an additional 23,923 shares during the period. Oakview Capital Management L.P. boosted its position in shares of Orthofix Medical by 6.9% in the 1st quarter. Oakview Capital Management L.P. now owns 314,040 shares of the medical device company’s stock valued at $18,459,000 after purchasing an additional 20,183 shares during the period. Finally, Paradice Investment Management LLC boosted its position in shares of Orthofix Medical by 20.5% in the 2nd quarter. Paradice Investment Management LLC now owns 298,119 shares of the medical device company’s stock valued at $16,939,000 after purchasing an additional 50,780 shares during the period. 93.48% of the stock is owned by institutional investors and hedge funds.
In related news, insider Davide Bianchi sold 14,762 shares of the firm’s stock in a transaction that occurred on Tuesday, June 19th. The stock was sold at an average price of $60.00, for a total value of $885,720.00. Following the completion of the transaction, the insider now directly owns 41,260 shares of the company’s stock, valued at approximately $2,475,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brad Mason sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, September 5th. The shares were sold at an average price of $53.02, for a total value of $132,550.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 33,512 shares of company stock valued at $1,939,470. Company insiders own 5.60% of the company’s stock.
Shares of OFIX stock opened at $53.81 on Monday. The company has a market cap of $992.59 million, a PE ratio of 33.22, a price-to-earnings-growth ratio of 3.24 and a beta of 0.33. Orthofix Medical Inc has a 12-month low of $47.16 and a 12-month high of $61.98.
Orthofix Medical (NASDAQ:OFIX) last issued its earnings results on Monday, August 6th. The medical device company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.06. The business had revenue of $111.50 million during the quarter, compared to the consensus estimate of $114.62 million. Orthofix Medical had a return on equity of 10.74% and a net margin of 2.53%. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.42 EPS. research analysts anticipate that Orthofix Medical Inc will post 1.68 earnings per share for the current year.
About Orthofix Medical
Orthofix Medical Inc, a medical device company, provides musculoskeletal healing products and value-added services worldwide. It operates through four segments: BioStim, Extremity Fixation, Spine Fixation, and Biologics. The BioStim segment manufactures, distributes, and provides support services for bone growth stimulator devices that enhance bone fusion and are indicated as treatment to enhance fusion success rates in cervical and lumbar spine, as well as a therapeutic treatment for non-spine fractures.
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