Orthofix Medical Inc. (NASDAQ:OFIX) Shares Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. boosted its position in shares of Orthofix Medical Inc. (NASDAQ:OFIX) by 480.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 84,379 shares of the medical device company’s stock after purchasing an additional 69,848 shares during the period. JPMorgan Chase & Co. owned approximately 0.22% of Orthofix Medical worth $1,318,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Orthofix Medical by 5.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,994 shares of the medical device company’s stock valued at $156,000 after acquiring an additional 559 shares in the last quarter. XTX Topco Ltd purchased a new position in Orthofix Medical in the second quarter valued at about $175,000. Assenagon Asset Management S.A. acquired a new stake in Orthofix Medical during the 3rd quarter valued at approximately $216,000. Quest Partners LLC increased its holdings in Orthofix Medical by 187.1% during the 3rd quarter. Quest Partners LLC now owns 13,908 shares of the medical device company’s stock worth $217,000 after purchasing an additional 9,063 shares during the last quarter. Finally, SG Americas Securities LLC raised its position in shares of Orthofix Medical by 74.0% in the 3rd quarter. SG Americas Securities LLC now owns 17,117 shares of the medical device company’s stock valued at $267,000 after purchasing an additional 7,278 shares in the last quarter. Hedge funds and other institutional investors own 89.76% of the company’s stock.

Insider Transactions at Orthofix Medical

In other news, CEO Massimo Calafiore sold 10,078 shares of the company’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $16.83, for a total transaction of $169,612.74. Following the completion of the transaction, the chief executive officer now owns 133,354 shares in the company, valued at approximately $2,244,347.82. This represents a 7.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Julie Andrews sold 4,655 shares of the stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $17.89, for a total transaction of $83,277.95. Following the completion of the sale, the chief financial officer now directly owns 28,312 shares in the company, valued at approximately $506,501.68. This trade represents a 14.12 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 24,675 shares of company stock worth $423,238. 2.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

OFIX has been the subject of a number of recent analyst reports. Stifel Nicolaus raised shares of Orthofix Medical from a “hold” rating to a “buy” rating and raised their price target for the stock from $18.00 to $24.00 in a research report on Friday, November 8th. Canaccord Genuity Group started coverage on shares of Orthofix Medical in a research report on Wednesday. They issued a “buy” rating and a $24.00 target price for the company. Finally, Roth Mkm reaffirmed a “buy” rating and set a $22.00 price target (up previously from $20.00) on shares of Orthofix Medical in a research report on Friday, November 8th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $23.33.

Orthofix Medical Stock Performance

Orthofix Medical stock opened at $18.35 on Friday. The company has a market cap of $701.15 million, a PE ratio of -5.86 and a beta of 1.10. Orthofix Medical Inc. has a 12 month low of $12.08 and a 12 month high of $20.73. The company has a fifty day moving average price of $18.08 and a two-hundred day moving average price of $16.96. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.39 and a quick ratio of 1.11.

Orthofix Medical (NASDAQ:OFIX) last announced its quarterly earnings data on Thursday, November 7th. The medical device company reported ($0.71) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.57). Orthofix Medical had a negative net margin of 15.18% and a negative return on equity of 21.25%. The business had revenue of $196.61 million for the quarter, compared to the consensus estimate of $196.60 million. During the same period in the prior year, the company earned ($0.77) EPS. Research analysts expect that Orthofix Medical Inc. will post -2.81 earnings per share 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.