Quest Partners LLC Purchases Shares of 4,845 Orthofix Medical Inc. (NASDAQ:OFIX)

Quest Partners LLC acquired a new position in Orthofix Medical Inc. (NASDAQ:OFIX) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 4,845 shares of the medical device company’s stock, valued at approximately $64,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD raised its position in shares of Orthofix Medical by 3.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 32,957 shares of the medical device company’s stock valued at $479,000 after buying an additional 1,236 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Orthofix Medical by 25.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,435 shares of the medical device company’s stock worth $125,000 after acquiring an additional 1,919 shares in the last quarter. nVerses Capital LLC bought a new position in Orthofix Medical in the second quarter valued at $27,000. State Board of Administration of Florida Retirement System raised its position in Orthofix Medical by 34.7% during the first quarter. State Board of Administration of Florida Retirement System now owns 13,562 shares of the medical device company’s stock valued at $197,000 after purchasing an additional 3,490 shares in the last quarter. Finally, Gabelli Funds LLC lifted its stake in Orthofix Medical by 3.3% during the fourth quarter. Gabelli Funds LLC now owns 139,500 shares of the medical device company’s stock worth $1,880,000 after purchasing an additional 4,500 shares during the last quarter. 89.76% of the stock is currently owned by hedge funds and other institutional investors.

Orthofix Medical Price Performance

Shares of Orthofix Medical stock opened at $16.14 on Thursday. The firm has a market capitalization of $605.72 million, a PE ratio of -4.78 and a beta of 1.05. The company has a current ratio of 2.48, a quick ratio of 1.13 and a debt-to-equity ratio of 0.24. Orthofix Medical Inc. has a 12 month low of $9.57 and a 12 month high of $17.67. The business’s 50-day moving average price is $16.38 and its 200-day moving average price is $14.67.

Orthofix Medical (NASDAQ:OFIX) last issued its quarterly earnings results on Tuesday, August 6th. The medical device company reported ($0.88) EPS for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.58). The business had revenue of $198.62 million for the quarter, compared to the consensus estimate of $195.75 million. Orthofix Medical had a negative net margin of 15.61% and a negative return on equity of 20.68%. Sell-side analysts forecast that Orthofix Medical Inc. will post -2.13 EPS for the current fiscal year.

About Orthofix Medical

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.