Orthofix Medical Inc. (NASDAQ:OFIX) Shares Acquired by Gamco Investors INC. ET AL

Gamco Investors INC. ET AL lifted its holdings in shares of Orthofix Medical Inc. (NASDAQ:OFIX) by 21.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 149,200 shares of the medical device company’s stock after acquiring an additional 25,900 shares during the period. Gamco Investors INC. ET AL owned 0.40% of Orthofix Medical worth $2,166,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Engine Capital Management LP purchased a new position in shares of Orthofix Medical during the fourth quarter worth about $40,916,000. Armistice Capital LLC increased its position in Orthofix Medical by 21.5% during the fourth quarter. Armistice Capital LLC now owns 3,600,000 shares of the medical device company’s stock worth $48,528,000 after buying an additional 636,000 shares during the period. Boone Capital Management LLC purchased a new stake in Orthofix Medical in the fourth quarter valued at approximately $6,740,000. Glenview Capital Management LLC acquired a new stake in shares of Orthofix Medical in the fourth quarter valued at approximately $6,740,000. Finally, Rubric Capital Management LP grew its position in shares of Orthofix Medical by 6.7% during the fourth quarter. Rubric Capital Management LP now owns 3,665,000 shares of the medical device company’s stock worth $49,404,000 after acquiring an additional 230,335 shares during the last quarter. Hedge funds and other institutional investors own 89.76% of the company’s stock.

Orthofix Medical Stock Performance

Shares of Orthofix Medical stock remained flat at $16.51 on Friday. 242,940 shares of the stock were exchanged, compared to its average volume of 273,062. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.65 and a quick ratio of 1.19. The firm has a market capitalization of $619.62 million, a price-to-earnings ratio of -4.88 and a beta of 1.05. Orthofix Medical Inc. has a twelve month low of $9.57 and a twelve month high of $21.60. The stock’s fifty day simple moving average is $14.20 and its two-hundred day simple moving average is $13.99.

Orthofix Medical (NASDAQ:OFIX) last released its earnings results on Tuesday, May 7th. The medical device company reported ($0.95) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.54) by ($0.41). The business had revenue of $188.61 million for the quarter, compared to analyst estimates of $183.40 million. Orthofix Medical had a negative return on equity of 14.24% and a negative net margin of 16.64%. Research analysts expect that Orthofix Medical Inc. will post -1.72 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. JMP Securities reiterated a “market perform” rating on shares of Orthofix Medical in a research note on Monday, April 22nd. Roth Mkm raised Orthofix Medical from a “neutral” rating to a “buy” rating and raised their price target for the stock from $15.00 to $20.00 in a report on Wednesday, May 8th. Roth Capital raised Orthofix Medical from a “neutral” rating to a “buy” rating in a research note on Wednesday, May 8th. Finally, StockNews.com upgraded Orthofix Medical from a “sell” rating to a “hold” rating in a research note on Wednesday, May 8th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $18.00.

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.