Invesco Ltd. Buys 767 Shares of Orthofix Medical Inc. (NASDAQ:OFIX)

Invesco Ltd. increased its stake in shares of Orthofix Medical Inc. (NASDAQ:OFIX) by 1.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 74,977 shares of the medical device company’s stock after acquiring an additional 767 shares during the quarter. Invesco Ltd. owned approximately 0.20% of Orthofix Medical worth $1,309,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of OFIX. JPMorgan Chase & Co. grew its position in Orthofix Medical by 244.1% during the 4th quarter. JPMorgan Chase & Co. now owns 290,351 shares of the medical device company’s stock worth $5,070,000 after acquiring an additional 205,972 shares during the last quarter. Emerald Advisers LLC grew its position in Orthofix Medical by 12.2% during the 4th quarter. Emerald Advisers LLC now owns 822,377 shares of the medical device company’s stock worth $14,359,000 after acquiring an additional 89,717 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in shares of Orthofix Medical in the 4th quarter worth approximately $1,286,000. Teacher Retirement System of Texas grew its position in shares of Orthofix Medical by 90.0% in the 4th quarter. Teacher Retirement System of Texas now owns 135,009 shares of the medical device company’s stock worth $2,357,000 after buying an additional 63,939 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Orthofix Medical in the 4th quarter worth approximately $1,003,000. 89.76% of the stock is currently owned by institutional investors.

Orthofix Medical Price Performance

Shares of OFIX stock opened at $13.91 on Thursday. The stock has a market cap of $542.80 million, a price-to-earnings ratio of -4.44 and a beta of 0.99. The business’s fifty day moving average is $15.51 and its 200 day moving average is $17.06. Orthofix Medical Inc. has a twelve month low of $12.08 and a twelve month 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.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on OFIX. Roth Mkm reiterated a “buy” rating and issued a $22.00 price objective 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 research report on Tuesday, February 25th. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $24.00 price objective on shares of Orthofix Medical in a research report on Wednesday, February 26th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, Orthofix Medical has an average rating of “Buy” and a consensus price target of $23.33.

Insider Buying and Selling

In related news, insider Jorge Andres Cedron sold 3,816 shares of the stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $13.31, for a total transaction of $50,790.96. Following the sale, the insider now directly owns 42,500 shares of the company’s stock, valued at approximately $565,675. This represents a 8.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Lucas Vitale sold 4,287 shares of the firm’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $16.60, for a total transaction of $71,164.20. Following the sale, the insider now directly 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. Insiders have sold a total of 9,242 shares of company stock valued at $141,710 over the last ninety days. Company insiders own 2.60% of the company’s stock.

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.