Emerald Advisers LLC Reduces Stake in Orthofix Medical Inc. (NASDAQ:OFIX)

Emerald Advisers LLC reduced its position in Orthofix Medical Inc. (NASDAQ:OFIX) by 0.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 732,660 shares of the medical device company’s stock after selling 1,339 shares during the period. Emerald Advisers LLC owned approximately 1.92% of Orthofix Medical worth $11,444,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Assenagon Asset Management S.A. purchased a new position in shares of Orthofix Medical in the 3rd quarter worth $216,000. Inspire Investing LLC purchased a new position in shares of Orthofix Medical in the 3rd quarter worth $417,000. SG Americas Securities LLC boosted its stake 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 worth $267,000 after buying an additional 7,278 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of Orthofix Medical by 4.4% in the 2nd quarter. AQR Capital Management LLC now owns 31,863 shares of the medical device company’s stock worth $423,000 after buying an additional 1,336 shares during the last quarter. Finally, Armistice Capital LLC boosted its stake in shares of Orthofix Medical by 1.4% in the 2nd quarter. Armistice Capital LLC now owns 3,750,000 shares of the medical device company’s stock worth $49,725,000 after buying an additional 50,000 shares during the last quarter. 89.76% of the stock is currently owned by hedge funds and other institutional investors.

Orthofix Medical Stock Performance

Shares of OFIX stock traded up $0.77 on Friday, reaching $16.96. The stock had a trading volume of 213,514 shares, compared to its average volume of 193,933. Orthofix Medical Inc. has a 1 year low of $9.57 and a 1 year high of $17.67. The company has a 50 day simple moving average of $16.15 and a 200 day simple moving average of $15.10. The stock has a market cap of $647.45 million, a P/E ratio of -5.32 and a beta of 1.05. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.13 and a current ratio of 2.48.

Orthofix Medical (NASDAQ:OFIX) last announced its earnings results on Tuesday, August 6th. The medical device company reported ($0.88) EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $198.62 million during the quarter, compared to the consensus estimate of $195.75 million. Equities research 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.