SG Americas Securities LLC Reduces Stake in Orthofix Medical Inc. (NASDAQ:OFIX)

SG Americas Securities LLC decreased its position in Orthofix Medical Inc. (NASDAQ:OFIX) by 42.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 9,839 shares of the medical device company’s stock after selling 7,273 shares during the period. SG Americas Securities LLC’s holdings in Orthofix Medical were worth $130,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in OFIX. Gladius Capital Management LP raised its stake in Orthofix Medical by 55.2% in the 4th quarter. Gladius Capital Management LP now owns 2,841 shares of the medical device company’s stock valued at $38,000 after purchasing an additional 1,010 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Orthofix Medical by 3.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 32,957 shares of the medical device company’s stock valued at $479,000 after acquiring an additional 1,236 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Orthofix Medical by 30.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,516 shares of the medical device company’s stock worth $101,000 after purchasing an additional 1,752 shares during the last quarter. State Board of Administration of Florida Retirement System grew its position in shares of Orthofix Medical by 34.7% in the first quarter. State Board of Administration of Florida Retirement System now owns 13,562 shares of the medical device company’s stock valued at $197,000 after purchasing an additional 3,490 shares during the period. Finally, Gabelli Funds LLC increased its stake in Orthofix Medical by 3.3% in the fourth quarter. Gabelli Funds LLC now owns 139,500 shares of the medical device company’s stock valued at $1,880,000 after purchasing an additional 4,500 shares during the last quarter. Hedge funds and other institutional investors own 89.76% of the company’s stock.

Orthofix Medical Price Performance

OFIX stock opened at $17.29 on Monday. The firm has a market cap of $659.96 million, a P/E ratio of -5.12 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 Inc. has a 1 year low of $9.57 and a 1 year high of $21.60. The stock has a 50-day simple moving average of $15.14 and a 200-day simple moving average of $14.29.

Orthofix Medical (NASDAQ:OFIX) last issued its quarterly earnings data on Tuesday, August 6th. The medical device company reported ($0.88) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.30) by ($0.58). Orthofix Medical had a negative net margin of 15.61% and a negative return on equity of 20.68%. The firm had revenue of $198.62 million during the quarter, compared to analyst estimates of $195.75 million. On average, equities analysts predict that Orthofix Medical Inc. will post -2.13 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

OFIX has been the subject of several recent analyst reports. StockNews.com upgraded Orthofix Medical from a “sell” rating to a “hold” rating in a report on Wednesday, May 8th. Roth Mkm raised shares of Orthofix Medical from a “neutral” rating to a “buy” rating and upped their price target for the stock from $15.00 to $20.00 in a research report on Wednesday, May 8th. Finally, Roth Capital upgraded Orthofix Medical from a “neutral” rating to a “buy” rating in a report on Wednesday, May 8th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Orthofix Medical has an average rating of “Hold” and an average price target of $18.00.

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.