Lazard Asset Management LLC Takes Position in Orthofix Medical Inc. (NASDAQ:OFIX)

Lazard Asset Management LLC bought a new stake in Orthofix Medical Inc. (NASDAQ:OFIX) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 2,596 shares of the medical device company’s stock, valued at approximately $45,000.

Other large investors also recently bought and sold shares of the company. R Squared Ltd bought a new position in Orthofix Medical during the fourth quarter valued at $50,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Orthofix Medical during the 4th quarter valued at about $112,000. Tower Research Capital LLC TRC lifted its holdings in shares of Orthofix Medical by 120.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 8,458 shares of the medical device company’s stock valued at $148,000 after acquiring an additional 4,627 shares during the last quarter. XTX Topco Ltd purchased a new position in Orthofix Medical in the fourth quarter worth about $234,000. Finally, Graham Capital Management L.P. grew its position in Orthofix Medical by 25.2% in the fourth quarter. Graham Capital Management L.P. now owns 15,510 shares of the medical device company’s stock worth $271,000 after acquiring an additional 3,124 shares in the last quarter. Institutional investors own 89.76% of the company’s stock.

Insiders Place Their Bets

In other news, insider Lucas Vitale sold 4,287 shares of the business’s stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $16.60, for a total transaction of $71,164.20. Following the completion of the sale, the insider now directly owns 135,317 shares of the company’s stock, valued at approximately $2,246,262.20. The trade was a 3.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jorge Andres Cedron sold 3,816 shares of the company’s stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $13.31, for a total transaction of $50,790.96. Following the completion of the transaction, the insider now owns 42,500 shares in the company, valued at approximately $565,675. The trade was a 8.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 8,475 shares of company stock valued at $128,065 over the last 90 days. Insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on OFIX shares. Canaccord Genuity Group restated a “buy” rating and set a $24.00 price objective on shares of Orthofix Medical in a research report on Wednesday, February 26th. Wall Street Zen downgraded Orthofix Medical from a “buy” rating to a “hold” rating in a research report on Wednesday, May 7th. Finally, Roth Mkm restated a “buy” rating and issued a $22.00 price target on shares of Orthofix Medical in a research report on Wednesday, February 26th.

Orthofix Medical Price Performance

OFIX stock opened at $11.10 on Tuesday. The stock has a market cap of $433.14 million, a PE ratio of -3.55 and a beta of 0.87. Orthofix Medical Inc. has a 12 month low of $10.50 and a 12 month high of $20.73. The company has a 50-day moving average price of $13.77 and a 200 day moving average price of $16.51. The company has a current ratio of 2.39, a quick ratio of 1.11 and a debt-to-equity ratio of 0.25.

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.