JPMorgan Chase & Co. Acquires 205,972 Shares of Orthofix Medical Inc. (NASDAQ:OFIX)

JPMorgan Chase & Co. grew its stake in shares of Orthofix Medical Inc. (NASDAQ:OFIX) by 244.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 290,351 shares of the medical device company’s stock after buying an additional 205,972 shares during the period. JPMorgan Chase & Co. owned 0.76% of Orthofix Medical worth $5,070,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of OFIX. Jane Street Group LLC grew its position in shares of Orthofix Medical by 10.7% during the third quarter. Jane Street Group LLC now owns 48,134 shares of the medical device company’s stock valued at $752,000 after purchasing an additional 4,647 shares in the last quarter. Barclays PLC increased its stake in Orthofix Medical by 38.8% in the 3rd quarter. Barclays PLC now owns 122,472 shares of the medical device company’s stock worth $1,912,000 after acquiring an additional 34,210 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Orthofix Medical by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 839,189 shares of the medical device company’s stock worth $13,111,000 after acquiring an additional 11,559 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of Orthofix Medical by 37.4% during the 3rd quarter. Franklin Resources Inc. now owns 20,960 shares of the medical device company’s stock valued at $337,000 after acquiring an additional 5,702 shares during the last quarter. Finally, SG Americas Securities LLC increased its position in Orthofix Medical by 24.3% in the fourth quarter. SG Americas Securities LLC now owns 21,279 shares of the medical device company’s stock worth $372,000 after purchasing an additional 4,162 shares during the last quarter. Hedge funds and other institutional investors own 89.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on OFIX. Canaccord Genuity Group reissued a “buy” rating and issued a $24.00 price objective on shares of Orthofix Medical in a research note on Wednesday, February 26th. Roth Mkm reissued a “buy” rating and set a $22.00 price objective on shares of Orthofix Medical in a research note on Wednesday, February 26th. Finally, StockNews.com raised Orthofix Medical from a “hold” rating to a “buy” rating in a research note on Tuesday, February 25th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $23.33.

Orthofix Medical Stock Up 0.5 %

Shares of NASDAQ OFIX opened at $13.03 on Friday. The stock has a 50 day moving average price of $16.25 and a 200 day moving average price of $17.15. The firm has a market capitalization of $508.46 million, a price-to-earnings ratio of -4.16 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 debt-to-equity ratio of 0.25, a quick ratio of 1.11 and a current ratio of 2.39.

Insider Buying and Selling

In related news, insider Jorge Andres Cedron sold 3,816 shares of the business’s stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $13.31, for a total value of $50,790.96. Following the completion of the sale, the insider now owns 42,500 shares of the company’s stock, valued at approximately $565,675. The trade was a 8.24 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Lucas Vitale sold 4,287 shares of Orthofix Medical stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $16.60, for a total value of $71,164.20. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,242 shares of company stock valued at $141,710 over the last three months. 2.60% of the stock is owned by company insiders.

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.