Franklin Resources Inc. Purchases 5,702 Shares of Orthofix Medical Inc. (NASDAQ:OFIX)

Franklin Resources Inc. grew its position in Orthofix Medical Inc. (NASDAQ:OFIX) by 37.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,960 shares of the medical device company’s stock after buying an additional 5,702 shares during the quarter. Franklin Resources Inc. owned 0.05% of Orthofix Medical worth $337,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Paradigm Capital Management Inc. NY raised its position in Orthofix Medical by 31.3% during the second 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 purchasing an additional 609,137 shares in the last quarter. Engine Capital Management LP increased its stake 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 purchasing an additional 333,364 shares during the last quarter. Marshall Wace LLP acquired a new position in shares of Orthofix Medical during the 2nd quarter worth $2,193,000. HighVista Strategies LLC bought a new stake in shares of Orthofix Medical during the 3rd quarter worth $1,689,000. Finally, AYAL Capital Advisors Ltd boosted its stake in Orthofix Medical by 10.2% in the second quarter. AYAL Capital Advisors Ltd now owns 686,794 shares of the medical device company’s stock valued at $9,107,000 after buying an additional 63,697 shares in the last quarter. Institutional investors own 89.76% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on OFIX. Roth Mkm reissued a “buy” rating and set a $22.00 target price (up previously from $20.00) on shares of Orthofix Medical in a research note on Friday, November 8th. Stifel Nicolaus upgraded shares of Orthofix Medical from a “hold” rating to a “buy” rating and upped their price objective for the stock 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 issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $23.00.

Orthofix Medical Price Performance

Shares of OFIX opened at $17.46 on Wednesday. The business has a 50-day simple moving average of $18.00 and a two-hundred day simple moving average of $16.44. Orthofix Medical Inc. has a 12-month low of $12.08 and a 12-month high of $20.73. The stock has a market cap of $667.22 million, a PE ratio of -5.58 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.

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.