Engine Capital Management LP increased its stake in Orthofix Medical Inc. (NASDAQ:OFIX – Free Report) by 11.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,368,665 shares of the medical device company’s stock after acquiring an additional 333,364 shares during the period. Orthofix Medical comprises about 8.4% of Engine Capital Management LP’s holdings, making the stock its 2nd largest holding. Engine Capital Management LP owned approximately 8.98% of Orthofix Medical worth $44,668,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also bought and sold shares of the stock. nVerses Capital LLC purchased a new stake in shares of Orthofix Medical during the second quarter worth about $27,000. Quest Partners LLC purchased a new stake in Orthofix Medical in the second quarter worth $64,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Orthofix Medical by 25.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,435 shares of the medical device company’s stock worth $125,000 after purchasing an additional 1,919 shares during the period. Arizona State Retirement System bought a new stake in shares of Orthofix Medical during the 2nd quarter valued at about $139,000. Finally, XTX Topco Ltd purchased a new position in shares of Orthofix Medical during the second quarter valued at about $175,000. 89.76% of the stock is owned by hedge funds and other institutional investors.
Orthofix Medical Price Performance
OFIX stock opened at $15.91 on Tuesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.48 and a quick ratio of 1.13. Orthofix Medical Inc. has a 1 year low of $9.57 and a 1 year high of $17.67. The firm has a 50-day moving average of $16.43 and a 200 day moving average of $14.74. The company has a market cap of $597.09 million, a P/E ratio of -4.71 and a beta of 1.05.
Orthofix Medical 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.
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