Renaissance Technologies LLC Trims Position in Orthofix Medical Inc. (NASDAQ:OFIX)

Renaissance Technologies LLC decreased its holdings in shares of Orthofix Medical Inc. (NASDAQ:OFIX) by 52.3% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 56,071 shares of the medical device company’s stock after selling 61,465 shares during the quarter. Renaissance Technologies LLC owned about 0.15% of Orthofix Medical worth $744,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. American Century Companies Inc. lifted its position in Orthofix Medical by 15.7% during the second quarter. American Century Companies Inc. now owns 54,964 shares of the medical device company’s stock worth $729,000 after buying an additional 7,475 shares during the period. Quest Partners LLC purchased a new position in shares of Orthofix Medical during the 2nd quarter worth about $64,000. Great Lakes Advisors LLC boosted its position in shares of Orthofix Medical by 15.1% in the second quarter. Great Lakes Advisors LLC now owns 259,750 shares of the medical device company’s stock worth $3,444,000 after acquiring an additional 34,114 shares during the last quarter. Arizona State Retirement System purchased a new stake in Orthofix Medical in the second quarter valued at approximately $139,000. Finally, Victory Capital Management Inc. acquired a new position in Orthofix Medical during the second quarter worth approximately $832,000. Hedge funds and other institutional investors own 89.76% of the company’s stock.

Orthofix Medical Stock Performance

NASDAQ:OFIX opened at $15.10 on Wednesday. The company has a market cap of $576.37 million, a P/E ratio of -4.47 and a beta of 1.05. The firm’s 50 day moving average is $16.25 and its two-hundred day moving average is $14.85. Orthofix Medical Inc. has a fifty-two week low of $9.57 and a fifty-two week high of $17.67. The company has a quick ratio of 1.13, a current ratio of 2.48 and a debt-to-equity ratio of 0.24.

Orthofix Medical (NASDAQ:OFIX) last issued its earnings results on Tuesday, August 6th. The medical device company reported ($0.88) earnings per share for the quarter, missing the consensus estimate of ($0.30) by ($0.58). Orthofix Medical had a negative return on equity of 20.68% and a negative net margin of 15.61%. The firm had revenue of $198.62 million during the quarter, compared to analysts’ expectations of $195.75 million. Analysts expect that Orthofix Medical Inc. will post -2.13 EPS for the current year.

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.