Gladius Capital Management LP Raises Stake in Orthofix Medical Inc. (NASDAQ:OFIX)

Gladius Capital Management LP lifted its position in shares of Orthofix Medical Inc. (NASDAQ:OFIX) by 55.2% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 2,841 shares of the medical device company’s stock after buying an additional 1,010 shares during the period. Gladius Capital Management LP’s holdings in Orthofix Medical were worth $38,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its stake in shares of Orthofix Medical by 7.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 461,885 shares of the medical device company’s stock worth $6,226,000 after purchasing an additional 32,400 shares during the period. Russell Investments Group Ltd. lifted its position in Orthofix Medical by 102.2% during the fourth quarter. Russell Investments Group Ltd. now owns 233,979 shares of the medical device company’s stock worth $3,154,000 after buying an additional 118,269 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Orthofix Medical by 30.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,516 shares of the medical device company’s stock worth $101,000 after buying an additional 1,752 shares during the last quarter. Turtle Creek Wealth Advisors LLC purchased a new stake in Orthofix Medical in the 4th quarter valued at about $474,000. Finally, Arizona State Retirement System acquired a new position in shares of Orthofix Medical during the 4th quarter valued at about $138,000. Institutional investors and hedge funds own 89.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Roth Mkm upgraded shares of Orthofix Medical from a “neutral” rating to a “buy” rating and boosted their target price for the company from $15.00 to $20.00 in a report on Wednesday. Roth Capital raised shares of Orthofix Medical from a “neutral” rating to a “buy” rating in a research note on Wednesday. StockNews.com upgraded Orthofix Medical from a “sell” rating to a “hold” rating in a report on Wednesday. Finally, JMP Securities reiterated a “market perform” rating on shares of Orthofix Medical in a report on Monday, April 22nd. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $18.00.

Orthofix Medical Trading Down 2.8 %

OFIX stock traded down $0.41 during midday trading on Thursday, reaching $14.49. 380,003 shares of the company’s stock traded hands, compared to its average volume of 409,470. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.54 and a quick ratio of 1.20. Orthofix Medical Inc. has a fifty-two week low of $9.57 and a fifty-two week high of $21.60. The business has a 50-day moving average price of $13.69 and a two-hundred day moving average price of $13.04. The company has a market capitalization of $542.07 million, a P/E ratio of -3.50 and a beta of 1.06.

Orthofix Medical (NASDAQ:OFIX) last posted its earnings results on Tuesday, March 5th. The medical device company reported ($0.59) earnings per share for the quarter, beating the consensus estimate of ($0.60) by $0.01. Orthofix Medical had a negative net margin of 20.28% and a negative return on equity of 10.63%. The business had revenue of $200.42 million for the quarter. Equities research analysts forecast that Orthofix Medical Inc. will post -1.51 EPS for the current fiscal 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.