Cubist Systematic Strategies LLC raised its stake in shares of Orthofix Medical Inc (NASDAQ:OFIX) by 21.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,149 shares of the medical device company’s stock after buying an additional 1,085 shares during the period. Cubist Systematic Strategies LLC’s holdings in Orthofix Medical were worth $325,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Marshall Wace North America L.P. bought a new position in Orthofix Medical during the first quarter valued at about $25,000. Tower Research Capital LLC TRC bought a new position in Orthofix Medical during the second quarter valued at about $54,000. Quantamental Technologies LLC raised its holdings in Orthofix Medical by 14,277.8% during the second quarter. Quantamental Technologies LLC now owns 1,294 shares of the medical device company’s stock valued at $68,000 after buying an additional 1,285 shares in the last quarter. Congress Asset Management Co. MA bought a new position in Orthofix Medical during the second quarter valued at about $234,000. Finally, Paloma Partners Management Co bought a new position in Orthofix Medical during the second quarter valued at about $244,000. Institutional investors own 94.80% of the company’s stock.
Several equities research analysts have recently issued reports on OFIX shares. Zacks Investment Research downgraded Orthofix Medical from a “buy” rating to a “hold” rating in a research report on Friday, August 9th. BidaskClub downgraded Orthofix Medical from a “hold” rating to a “sell” rating in a research report on Friday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $59.50.
Shares of NASDAQ:OFIX opened at $52.08 on Friday. The company has a market cap of $992.96 million, a P/E ratio of 26.57, a P/E/G ratio of 2.84 and a beta of 0.41. The stock’s 50-day moving average is $51.42 and its 200-day moving average is $52.41. Orthofix Medical Inc has a 52-week low of $47.79 and a 52-week high of $74.44. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.26 and a current ratio of 3.42.
Orthofix Medical (NASDAQ:OFIX) last issued its quarterly earnings results on Monday, August 5th. The medical device company reported $0.28 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by ($0.12). The business had revenue of $115.85 million during the quarter, compared to analyst estimates of $115.17 million. Orthofix Medical had a net margin of 1.75% and a return on equity of 9.50%. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.42 earnings per share. As a group, equities analysts predict that Orthofix Medical Inc will post 1.77 EPS for the current year.
Orthofix Medical Company Profile
Orthofix Medical Inc, a medical device company, provides musculoskeletal healing products and therapies worldwide. It operates through four segments: Bone Growth Therapies, Spinal Implants, Biologics, and Orthofix Extremities. The Bone Growth Therapies 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-spinal appendicular fractures.
Further Reading: Holder of Record
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