State Street Corp Decreases Stock Position in Orthofix Medical Inc. (NASDAQ:OFIX)

State Street Corp decreased its position in shares of Orthofix Medical Inc. (NASDAQ:OFIX) by 3.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 879,530 shares of the medical device company’s stock after selling 28,162 shares during the period. State Street Corp owned approximately 2.30% of Orthofix Medical worth $13,738,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Armistice Capital LLC lifted its position in Orthofix Medical by 1.4% during the second quarter. Armistice Capital LLC now owns 3,750,000 shares of the medical device company’s stock valued at $49,725,000 after purchasing an additional 50,000 shares during the last quarter. Rubric Capital Management LP lifted its holdings in shares of Orthofix Medical by 0.8% in the 2nd quarter. Rubric Capital Management LP now owns 3,694,946 shares of the medical device company’s stock valued at $48,995,000 after acquiring an additional 29,946 shares during the last quarter. Engine Capital Management LP lifted its holdings in shares of Orthofix Medical by 11.0% in the 2nd quarter. Engine Capital Management LP now owns 3,368,665 shares of the medical device company’s stock valued at $44,668,000 after acquiring an additional 333,364 shares during the last quarter. Paradigm Capital Management Inc. NY grew its position in Orthofix Medical by 31.3% in the second quarter. Paradigm Capital Management Inc. NY now owns 2,556,100 shares of the medical device company’s stock worth $33,894,000 after acquiring an additional 609,137 shares in the last quarter. Finally, AYAL Capital Advisors Ltd increased its stake in Orthofix Medical by 10.2% during the second quarter. AYAL Capital Advisors Ltd now owns 686,794 shares of the medical device company’s stock worth $9,107,000 after acquiring an additional 63,697 shares during the last quarter. 89.76% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Stifel Nicolaus upgraded Orthofix Medical from a “hold” rating to a “buy” rating and lifted their target price for the stock from $18.00 to $24.00 in a report on Friday, November 8th. Roth Mkm reaffirmed a “buy” rating and set a $22.00 price objective (up from $20.00) on shares of Orthofix Medical in a research note on Friday, November 8th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.00.

Orthofix Medical Stock Performance

Shares of Orthofix Medical stock opened at $17.34 on Thursday. The company has a quick ratio of 1.11, a current ratio of 2.39 and a debt-to-equity ratio of 0.25. The stock’s fifty day moving average is $17.88 and its two-hundred day moving average is $16.28. Orthofix Medical Inc. has a 52 week low of $12.08 and a 52 week high of $20.73. The company has a market capitalization of $662.63 million, a PE ratio of -5.54 and a beta of 1.09.

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.