Arizona State Retirement System Invests $138,000 in Orthofix Medical Inc. (NASDAQ:OFIX)

Arizona State Retirement System bought a new position in Orthofix Medical Inc. (NASDAQ:OFIX) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 10,271 shares of the medical device company’s stock, valued at approximately $138,000.

A number of other large investors have also bought and sold shares of OFIX. Rubric Capital Management LP increased its position in Orthofix Medical by 43.6% in the 3rd quarter. Rubric Capital Management LP now owns 3,434,665 shares of the medical device company’s stock valued at $44,170,000 after acquiring an additional 1,042,253 shares in the last quarter. Armistice Capital LLC increased its holdings in shares of Orthofix Medical by 21.7% in the third quarter. Armistice Capital LLC now owns 2,964,000 shares of the medical device company’s stock valued at $38,117,000 after purchasing an additional 528,000 shares in the last quarter. Assenagon Asset Management S.A. raised its position in Orthofix Medical by 358.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 568,531 shares of the medical device company’s stock worth $7,311,000 after purchasing an additional 444,573 shares during the last quarter. Paradigm Capital Management Inc. NY acquired a new position in Orthofix Medical during the 3rd quarter worth $3,736,000. Finally, AWM Investment Company Inc. boosted its position in Orthofix Medical by 77.4% in the 3rd quarter. AWM Investment Company Inc. now owns 598,463 shares of the medical device company’s stock valued at $7,696,000 after buying an additional 261,081 shares during the last quarter. 89.76% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

OFIX has been the topic of several research reports. JMP Securities reaffirmed a “market perform” rating on shares of Orthofix Medical in a research note on Monday. Roth Mkm raised their target price on shares of Orthofix Medical from $12.00 to $15.00 and gave the company a “neutral” rating in a research note on Thursday, March 7th. Finally, StockNews.com cut shares of Orthofix Medical from a “hold” rating to a “sell” rating in a research report on Wednesday, March 6th. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $15.50.

Orthofix Medical Stock Down 0.2 %

NASDAQ:OFIX opened at $13.08 on Tuesday. The company has a quick ratio of 1.20, a current ratio of 2.54 and a debt-to-equity ratio of 0.19. Orthofix Medical Inc. has a 12-month low of $9.57 and a 12-month high of $21.60. The stock’s fifty day simple moving average is $13.72 and its 200-day simple moving average is $12.91. The firm has a market capitalization of $489.28 million, a P/E ratio of -3.16 and a beta of 1.04.

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