Algert Global LLC Increases Position in Orthofix Medical Inc. (NASDAQ:OFIX)

Algert Global LLC increased its position in shares of Orthofix Medical Inc. (NASDAQ:OFIX) by 25.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 214,445 shares of the medical device company’s stock after purchasing an additional 43,753 shares during the period. Algert Global LLC’s holdings in Orthofix Medical were worth $3,350,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of OFIX. Paradigm Capital Management Inc. NY increased its holdings in shares of Orthofix Medical by 31.3% in 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 last quarter. Engine Capital Management LP increased its stake 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 purchasing an additional 333,364 shares during the last quarter. Marshall Wace LLP acquired a new stake in Orthofix Medical during the second quarter worth approximately $2,193,000. AYAL Capital Advisors Ltd lifted its position in shares of Orthofix Medical by 10.2% during the 2nd quarter. AYAL Capital Advisors Ltd now owns 686,794 shares of the medical device company’s stock worth $9,107,000 after buying an additional 63,697 shares during the last quarter. Finally, Victory Capital Management Inc. purchased a new stake in shares of Orthofix Medical during the 2nd quarter worth approximately $832,000. Hedge funds and other institutional investors own 89.76% of the company’s stock.

Orthofix Medical Stock Up 0.7 %

Shares of NASDAQ:OFIX opened at $19.04 on Tuesday. Orthofix Medical Inc. has a 1-year low of $10.28 and a 1-year high of $20.73. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.39 and a quick ratio of 1.11. The stock has a market cap of $727.52 million, a P/E ratio of -6.08 and a beta of 1.05. The firm has a fifty day moving average price of $16.68 and a 200 day moving average price of $15.70.

Analysts Set New Price Targets

A number of brokerages recently weighed in on OFIX. Roth Mkm reissued a “buy” rating and issued a $22.00 price target (up from $20.00) on shares of Orthofix Medical in a research report on Friday, November 8th. Stifel Nicolaus raised Orthofix Medical from a “hold” rating to a “buy” rating and boosted their target price for the company from $18.00 to $24.00 in a report on Friday, November 8th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Orthofix Medical has a consensus rating of “Moderate Buy” and a consensus target price of $23.00.

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.