Nuveen Asset Management LLC Cuts Holdings in Orthofix Medical Inc. (NASDAQ:OFIX)

Nuveen Asset Management LLC lessened its stake in Orthofix Medical Inc. (NASDAQ:OFIX) by 29.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 88,620 shares of the medical device company’s stock after selling 36,392 shares during the period. Nuveen Asset Management LLC owned approximately 0.23% of Orthofix Medical worth $1,547,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of OFIX. Juniper Investment Company LLC grew its stake in Orthofix Medical by 123.5% in the 4th quarter. Juniper Investment Company LLC now owns 1,937,249 shares of the medical device company’s stock worth $33,824,000 after buying an additional 1,070,656 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Orthofix Medical by 244.1% in the 4th quarter. JPMorgan Chase & Co. now owns 290,351 shares of the medical device company’s stock worth $5,070,000 after buying an additional 205,972 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Orthofix Medical by 31.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 659,475 shares of the medical device company’s stock worth $11,515,000 after buying an additional 159,177 shares in the last quarter. Emerald Mutual Fund Advisers Trust boosted its stake in shares of Orthofix Medical by 35.4% in the 4th quarter. Emerald Mutual Fund Advisers Trust now owns 503,802 shares of the medical device company’s stock valued at $8,796,000 after purchasing an additional 131,653 shares in the last quarter. Finally, Boone Capital Management LLC boosted its stake in shares of Orthofix Medical by 13.6% in the 4th quarter. Boone Capital Management LLC now owns 1,057,313 shares of the medical device company’s stock valued at $18,461,000 after purchasing an additional 126,806 shares in the last quarter. Hedge funds and other institutional investors own 89.76% of the company’s stock.

Insider Activity at Orthofix Medical

In other news, insider Jorge Andres Cedron sold 3,816 shares of the firm’s 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 owns 42,500 shares of the company’s stock, valued at $565,675. This trade represents a 8.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Engine Capital Management, Lp purchased 100,000 shares of the company’s stock in a transaction dated Wednesday, May 7th. The shares were bought at an average cost of $12.31 per share, for a total transaction of $1,231,000.00. Following the acquisition, the insider now owns 3,544,807 shares in the company, valued at approximately $43,636,574.17. The trade was a 2.90% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 8,475 shares of company stock valued at $128,065. 1.30% of the stock is owned by insiders.

Orthofix Medical Stock Up 1.8%

Shares of Orthofix Medical stock opened at $11.03 on Wednesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.39 and a quick ratio of 1.11. The company has a 50-day moving average of $13.13 and a 200 day moving average of $16.21. The firm has a market cap of $432.17 million, a price-to-earnings ratio of -3.52 and a beta of 0.87. Orthofix Medical Inc. has a 1 year low of $10.50 and a 1 year high of $20.73.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on OFIX. Canaccord Genuity Group reaffirmed 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 restated a “buy” rating and issued a $22.00 price objective on shares of Orthofix Medical in a report on Wednesday, February 26th. Finally, Wall Street Zen lowered shares of Orthofix Medical from a “buy” rating to a “hold” rating in a report on Wednesday, May 7th.

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.