Corebridge Financial Inc. Reduces Stock Position in Orthofix Medical Inc. (NASDAQ:OFIX)

Corebridge Financial Inc. trimmed its holdings in shares of Orthofix Medical Inc. (NASDAQ:OFIX) by 5.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,047 shares of the medical device company’s stock after selling 976 shares during the period. Corebridge Financial Inc.’s holdings in Orthofix Medical were worth $298,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in the business. Emerald Advisers LLC boosted its holdings in Orthofix Medical by 12.2% in the fourth quarter. Emerald Advisers LLC now owns 822,377 shares of the medical device company’s stock valued at $14,359,000 after purchasing an additional 89,717 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Orthofix Medical by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 2,126,785 shares of the medical device company’s stock worth $37,134,000 after buying an additional 12,286 shares during the last quarter. Fox Run Management L.L.C. acquired a new position in shares of Orthofix Medical in the 4th quarter valued at $327,000. KLP Kapitalforvaltning AS purchased a new position in shares of Orthofix Medical in the 4th quarter valued at $112,000. Finally, American Century Companies Inc. grew its position in shares of Orthofix Medical by 11.8% in the 4th quarter. American Century Companies Inc. now owns 72,422 shares of the medical device company’s stock valued at $1,264,000 after buying an additional 7,619 shares during the last quarter. Hedge funds and other institutional investors own 89.76% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on OFIX. Canaccord Genuity Group restated a “buy” rating and issued a $24.00 price objective on shares of Orthofix Medical in a research note on Wednesday, February 26th. StockNews.com raised Orthofix Medical from a “hold” rating to a “buy” rating in a research report on Tuesday, February 25th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $22.00 price target on shares of Orthofix Medical in a research report on Wednesday, February 26th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average 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 firm’s fifty day moving average is $16.87 and its two-hundred day moving average is $17.25. Orthofix Medical Inc. has a one year low of $12.08 and a one year high of $20.73. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.11 and a current ratio of 2.39. The firm has a market cap of $543.19 million, a PE ratio of -4.45 and a beta of 0.99.

Insider Activity at Orthofix Medical

In other Orthofix Medical news, CEO Massimo Calafiore sold 9,203 shares of Orthofix Medical stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 124,151 shares in the company, valued at approximately $2,127,948.14. This trade represents a 6.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Julie Andrews sold 4,655 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $17.89, for a total value of $83,277.95. Following the sale, the chief financial officer now owns 28,312 shares of the company’s stock, valued at $506,501.68. This trade represents a 14.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,511 shares of company stock worth $335,827 in the last quarter. Company insiders own 2.60% of the company’s stock.

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.