Orthofix Medical Inc. (NASDAQ:OFIX) Shares Bought by HighTower Advisors LLC

HighTower Advisors LLC lifted its position in shares of Orthofix Medical Inc. (NASDAQ:OFIX) by 114.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 89,183 shares of the medical device company’s stock after purchasing an additional 47,680 shares during the quarter. HighTower Advisors LLC owned 0.23% of Orthofix Medical worth $1,393,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in OFIX. HighVista Strategies LLC purchased a new stake in Orthofix Medical in the 3rd quarter worth $1,689,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Orthofix Medical in the third quarter valued at about $270,000. Verition Fund Management LLC increased its stake in shares of Orthofix Medical by 14.9% during the third quarter. Verition Fund Management LLC now owns 31,704 shares of the medical device company’s stock worth $495,000 after purchasing an additional 4,112 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Orthofix Medical by 5.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,994 shares of the medical device company’s stock worth $156,000 after purchasing an additional 559 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its stake in Orthofix Medical by 37.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 34,758 shares of the medical device company’s stock valued at $543,000 after buying an additional 9,456 shares in the last quarter. Hedge funds and other institutional investors own 89.76% of the company’s stock.

Orthofix Medical Stock Down 0.7 %

Shares of NASDAQ OFIX opened at $17.96 on Monday. Orthofix Medical Inc. has a 52-week low of $11.86 and a 52-week high of $20.73. The business’s 50 day moving average is $17.55 and its two-hundred day moving average is $16.09. The firm has a market cap of $686.32 million, a price-to-earnings ratio of -5.74 and a beta of 1.09. The company has a quick ratio of 1.11, a current ratio of 2.39 and a debt-to-equity ratio of 0.25.

Wall Street Analyst Weigh In

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

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.