UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 8,690 Shares of Orthofix Medical Inc. (NASDAQ:OFIX)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its holdings in shares of Orthofix Medical Inc. (NASDAQ:OFIX) by 12.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 62,599 shares of the medical device company’s stock after selling 8,690 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.16% of Orthofix Medical worth $978,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of OFIX. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Orthofix Medical by 5.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,994 shares of the medical device company’s stock worth $156,000 after acquiring an additional 559 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Orthofix Medical by 4.4% during the 2nd quarter. AQR Capital Management LLC now owns 31,863 shares of the medical device company’s stock worth $423,000 after purchasing an additional 1,336 shares during the last quarter. nVerses Capital LLC acquired a new position in shares of Orthofix Medical during the 2nd quarter worth approximately $27,000. Victory Capital Management Inc. raised its stake in shares of Orthofix Medical by 3.3% during the 3rd quarter. Victory Capital Management Inc. now owns 64,807 shares of the medical device company’s stock worth $1,012,000 after purchasing an additional 2,074 shares in the last quarter. Finally, Quest Partners LLC acquired a new stake in shares of Orthofix Medical in the 2nd quarter valued at approximately $64,000. Institutional investors own 89.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on OFIX shares. Roth Mkm restated a “buy” rating and set a $22.00 target price (up from $20.00) on shares of Orthofix Medical in a report on Friday, November 8th. Stifel Nicolaus raised shares of Orthofix Medical from a “hold” rating to a “buy” rating and lifted their price objective for the company from $18.00 to $24.00 in a research report on Friday, November 8th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $23.00.

Orthofix Medical Stock Performance

OFIX opened at $17.53 on Thursday. The company has a quick ratio of 1.11, a current ratio of 2.39 and a debt-to-equity ratio of 0.25. Orthofix Medical Inc. has a 12-month low of $12.08 and a 12-month high of $20.73. The business has a 50 day moving average of $17.71 and a 200-day moving average of $16.15. The stock has a market cap of $669.89 million, a price-to-earnings ratio of -5.60 and a beta of 1.09.

About Orthofix Medical

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.