6,400 Shares in Orthofix Medical Inc. (NASDAQ:OFIX) Acquired by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS acquired a new stake in Orthofix Medical Inc. (NASDAQ:OFIX) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 6,400 shares of the medical device company’s stock, valued at approximately $112,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Charles Schwab Investment Management Inc. raised its position in Orthofix Medical by 14.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 324,807 shares of the medical device company’s stock valued at $5,073,000 after purchasing an additional 39,901 shares in the last quarter. BNP Paribas Financial Markets increased its stake in shares of Orthofix Medical by 37.4% during the third quarter. BNP Paribas Financial Markets now owns 34,758 shares of the medical device company’s stock valued at $543,000 after buying an additional 9,456 shares during the period. Verition Fund Management LLC raised its holdings in shares of Orthofix Medical by 14.9% in the third quarter. Verition Fund Management LLC now owns 31,704 shares of the medical device company’s stock valued at $495,000 after acquiring an additional 4,112 shares in the last quarter. HighTower Advisors LLC lifted its stake in Orthofix Medical by 114.9% in the third quarter. HighTower Advisors LLC now owns 89,183 shares of the medical device company’s stock worth $1,393,000 after acquiring an additional 47,680 shares during the period. Finally, Jane Street Group LLC grew its holdings in Orthofix Medical by 10.7% during the 3rd quarter. Jane Street Group LLC now owns 48,134 shares of the medical device company’s stock worth $752,000 after acquiring an additional 4,647 shares in the last quarter. Hedge funds and other institutional investors own 89.76% of the company’s stock.

Insider Activity

In related news, CEO Massimo Calafiore sold 9,203 shares of the firm’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $17.14, for a total value of $157,739.42. Following the completion of the transaction, the chief executive officer now owns 124,151 shares in the company, valued at $2,127,948.14. This trade represents a 6.90 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Lucas Vitale sold 4,287 shares of the business’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $16.60, for a total value of $71,164.20. Following the sale, the insider now owns 135,317 shares in the company, valued at approximately $2,246,262.20. The trade was a 3.07 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,511 shares of company stock worth $335,827. Insiders own 2.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Roth Mkm reaffirmed a “buy” rating and issued a $22.00 price target on shares of Orthofix Medical in a research report on Wednesday, February 26th. StockNews.com upgraded Orthofix Medical from a “hold” rating to a “buy” rating in a report on Tuesday, February 25th. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $24.00 price target on shares of Orthofix Medical in a report on Wednesday, February 26th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Orthofix Medical currently has a consensus rating of “Moderate Buy” and an average target price of $23.33.

Orthofix Medical Trading Down 5.4 %

NASDAQ:OFIX opened at $13.92 on Friday. The stock has a market capitalization of $543.19 million, a price-to-earnings ratio of -4.45 and a beta of 0.99. Orthofix Medical Inc. has a 52 week low of $12.08 and a 52 week high of $20.73. The company has a quick ratio of 1.11, a current ratio of 2.39 and a debt-to-equity ratio of 0.25. The firm has a 50 day moving average of $16.87 and a 200 day moving average of $17.25.

Orthofix Medical 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.