Meeder Asset Management Inc. lessened its stake in shares of Orthofix Medical Inc (NASDAQ:OFIX) by 37.6% during the 3rd quarter, Holdings Channel reports. The firm owned 8,373 shares of the medical device company’s stock after selling 5,047 shares during the quarter. Meeder Asset Management Inc.’s holdings in Orthofix Medical were worth $485,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently added to or reduced their stakes in the company. First Quadrant L P CA purchased a new stake in Orthofix Medical during the 3rd quarter worth approximately $122,000. Itau Unibanco Holding S.A. purchased a new stake in Orthofix Medical during the 2nd quarter worth approximately $224,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in Orthofix Medical during the 2nd quarter worth approximately $227,000. Hartford Investment Management Co. purchased a new stake in shares of Orthofix Medical in the 2nd quarter valued at $269,000. Finally, United Services Automobile Association boosted its holdings in shares of Orthofix Medical by 37.9% in the 2nd quarter. United Services Automobile Association now owns 5,908 shares of the medical device company’s stock valued at $336,000 after acquiring an additional 1,623 shares during the last quarter. 92.64% of the stock is currently owned by institutional investors.
In related news, CEO Brad Mason sold 2,500 shares of the stock in a transaction on Wednesday, September 5th. The shares were sold at an average price of $53.02, for a total transaction of $132,550.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Luke T. Faulstick sold 8,450 shares of the stock in a transaction on Friday, November 2nd. The stock was sold at an average price of $61.05, for a total transaction of $515,872.50. Following the sale, the director now directly owns 7,129 shares in the company, valued at $435,225.45. The disclosure for this sale can be found here. Insiders sold a total of 28,343 shares of company stock worth $1,690,376 over the last ninety days. Insiders own 5.60% of the company’s stock.
OFIX stock opened at $61.68 on Friday. The firm has a market capitalization of $1.18 billion, a PE ratio of 34.08, a price-to-earnings-growth ratio of 3.67 and a beta of 0.30. Orthofix Medical Inc has a 12 month low of $50.41 and a 12 month high of $63.57.
Orthofix Medical (NASDAQ:OFIX) last released its quarterly earnings data on Monday, October 29th. The medical device company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.34 by $0.09. The business had revenue of $111.70 million for the quarter, compared to the consensus estimate of $110.65 million. Orthofix Medical had a net margin of 1.45% and a return on equity of 10.97%. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.42 EPS. As a group, sell-side analysts predict that Orthofix Medical Inc will post 1.75 earnings per share for the current fiscal year.
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Orthofix Medical Company Profile
Orthofix Medical Inc, a medical device company, provides musculoskeletal healing products and value-added services worldwide. It operates through four segments: BioStim, Extremity Fixation, Spine Fixation, and Biologics. The BioStim segment manufactures, distributes, and provides support services for bone growth stimulator devices that enhance bone fusion and are indicated as treatment to enhance fusion success rates in cervical and lumbar spine, as well as a therapeutic treatment for non-spine fractures.
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