Moore Capital Management LP Buys New Stake in Orthofix Medical Inc. $OFIX

Moore Capital Management LP bought a new stake in shares of Orthofix Medical Inc. (NASDAQ:OFIX) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 85,421 shares of the medical device company’s stock, valued at approximately $781,000. Moore Capital Management LP owned approximately 0.21% of Orthofix Medical at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the business. Engine Capital Management LP increased its holdings in shares of Orthofix Medical by 3.2% during the first quarter. Engine Capital Management LP now owns 4,390,779 shares of the medical device company’s stock valued at $50,362,000 after purchasing an additional 137,858 shares during the period. Rubric Capital Management LP raised its stake in shares of Orthofix Medical by 0.7% during the second quarter. Rubric Capital Management LP now owns 3,721,715 shares of the medical device company’s stock valued at $41,497,000 after purchasing an additional 26,769 shares in the last quarter. Juniper Investment Company LLC lifted its holdings in Orthofix Medical by 23.3% in the fourth quarter. Juniper Investment Company LLC now owns 3,510,333 shares of the medical device company’s stock worth $53,217,000 after purchasing an additional 663,278 shares during the period. Paradigm Capital Management Inc. NY lifted its holdings in Orthofix Medical by 34.6% in the second quarter. Paradigm Capital Management Inc. NY now owns 3,340,600 shares of the medical device company’s stock worth $37,248,000 after purchasing an additional 858,900 shares during the period. Finally, BlackRock Inc. acquired a new stake in Orthofix Medical in the second quarter worth about $30,405,000. Institutional investors and hedge funds own 89.76% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on OFIX. TD Cowen reissued a “hold” rating on shares of Orthofix Medical in a research note on Thursday, May 21st. Stifel Nicolaus reduced their price target on shares of Orthofix Medical from $18.00 to $15.00 and set a “buy” rating for the company in a research note on Friday, May 22nd. Weiss Ratings cut shares of Orthofix Medical from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, August 26th. Canaccord Genuity Group lowered their price objective on shares of Orthofix Medical from $18.00 to $13.00 and set a “buy” rating on the stock in a research note on Monday, August 10th. Finally, Barrington Research boosted their target price on Orthofix Medical from $15.00 to $17.00 and gave the stock an “outperform” rating in a report on Monday, July 6th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Orthofix Medical has an average rating of “Hold” and a consensus target price of $14.75.

Orthofix Medical Price Performance

Shares of Orthofix Medical stock opened at $9.43 on Wednesday. Orthofix Medical Inc. has a 52 week low of $8.85 and a 52 week high of $16.99. The company has a current ratio of 2.84, a quick ratio of 1.67 and a debt-to-equity ratio of 0.55. The stock has a market cap of $384.08 million, a PE ratio of -6.12 and a beta of 0.65. The company’s 50-day moving average price is $10.67 and its two-hundred day moving average price is $11.30.

Orthofix Medical (NASDAQ:OFIX) last announced its quarterly earnings data on Wednesday, August 5th. The medical device company reported ($0.39) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.41) by $0.02. Orthofix Medical had a negative net margin of 7.41% and a negative return on equity of 14.05%. The company had revenue of $210.93 million for the quarter, compared to analysts’ expectations of $209.28 million. As a group, sell-side analysts anticipate that Orthofix Medical Inc. will post -1.29 EPS for the current fiscal year.

Insiders Place Their Bets

In other Orthofix Medical news, insider Aviva Mcpherron sold 3,670 shares of Orthofix Medical stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $9.38, for a total value of $34,424.60. Following the transaction, the insider owned 66,330 shares in the company, valued at approximately $622,175.40. The trade was a 5.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 2.70% of the company’s stock.

Orthofix Medical Profile

Orthofix Medical Inc (NASDAQ: OFIX) is a global medical device company focused on the design and development of innovative orthopedic and spinal solutions. The company’s core business is divided into two segments: spine and orthopedics. In the spine segment, Orthofix offers a range of titanium implants, biologics and portable bone growth stimulation devices designed to support spinal fusion, deformity correction and minimally invasive procedures. Its orthopedic segment encompasses products for fracture fixation, external fixation systems, trauma care and sports medicine, providing surgeons with implantable devices and instruments for complex bone reconstruction and healing.

Orthofix’s product portfolio includes strut systems, bone growth stimulators, interbody fusion devices and fixation hardware that address various indications such as degenerative disc disease, spinal deformities, non-unions and long-bone fractures.