Connor Clark & Lunn Investment Management Ltd. Acquires 5,039 Shares of Orthofix Medical Inc. (NASDAQ:OFIX)

Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Orthofix Medical Inc. (NASDAQ:OFIX) by 17.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 34,632 shares of the medical device company’s stock after acquiring an additional 5,039 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.09% of Orthofix Medical worth $541,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in OFIX. nVerses Capital LLC purchased a new stake in Orthofix Medical in the 2nd quarter worth approximately $27,000. Quest Partners LLC purchased a new stake in shares of Orthofix Medical in the second quarter worth $64,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Orthofix Medical by 25.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,435 shares of the medical device company’s stock valued at $125,000 after buying an additional 1,919 shares during the period. Arizona State Retirement System purchased a new position in Orthofix Medical during the second quarter worth about $139,000. Finally, XTX Topco Ltd bought a new position in Orthofix Medical in the 2nd quarter worth about $175,000. Hedge funds and other institutional investors own 89.76% of the company’s stock.

Wall Street Analysts Forecast Growth

OFIX has been the topic of a number of research reports. Roth Mkm restated a “buy” rating and set a $22.00 price target (up previously 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 upped their target price for the stock from $18.00 to $24.00 in a research note on Friday, November 8th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.00.

Orthofix Medical Price Performance

Shares of Orthofix Medical stock opened at $19.53 on Friday. The company’s fifty day simple moving average is $16.85 and its two-hundred day simple moving average is $15.78. Orthofix Medical Inc. has a 12-month low of $10.28 and a 12-month high of $20.73. The firm has a market cap of $746.24 million, a PE ratio of -6.11 and a beta of 1.05. The company has a quick ratio of 1.11, a current ratio of 2.39 and a debt-to-equity ratio of 0.25.

Orthofix Medical Company 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.