Assenagon Asset Management S.A. Has $1.18 Million Stock Position in Orthofix Medical Inc. (NASDAQ:OFIX)

Assenagon Asset Management S.A. raised its position in shares of Orthofix Medical Inc. (NASDAQ:OFIX) by 421.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 72,226 shares of the medical device company’s stock after buying an additional 58,366 shares during the period. Assenagon Asset Management S.A. owned about 0.19% of Orthofix Medical worth $1,178,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of OFIX. Lazard Asset Management LLC bought a new stake in Orthofix Medical during the 4th quarter worth approximately $45,000. KLP Kapitalforvaltning AS bought a new position in Orthofix Medical in the 4th quarter valued at $112,000. Tower Research Capital LLC TRC boosted its stake in Orthofix Medical by 120.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 8,458 shares of the medical device company’s stock worth $148,000 after purchasing an additional 4,627 shares in the last quarter. State of Wyoming grew its holdings in shares of Orthofix Medical by 206.8% during the fourth quarter. State of Wyoming now owns 9,432 shares of the medical device company’s stock worth $165,000 after purchasing an additional 6,358 shares during the last quarter. Finally, XTX Topco Ltd bought a new stake in shares of Orthofix Medical during the fourth quarter worth $234,000. Institutional investors and hedge funds own 89.76% of the company’s stock.

Orthofix Medical Price Performance

Shares of OFIX stock opened at $10.52 on Wednesday. The firm has a market cap of $412.17 million, a price-to-earnings ratio of -2.85 and a beta of 0.80. Orthofix Medical Inc. has a 12 month low of $10.50 and a 12 month high of $20.73. The company has a quick ratio of 1.50, a current ratio of 2.71 and a debt-to-equity ratio of 0.38. The stock has a 50-day moving average price of $12.30 and a 200 day moving average price of $15.66.

Insider Buying and Selling at Orthofix Medical

In other news, insider Jorge Andres Cedron sold 3,816 shares of the business’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 directly owns 42,500 shares in the company, valued at approximately $565,675. The trade was a 8.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Engine Capital Management, Lp purchased 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 7th. The stock was purchased at an average price of $12.31 per share, for a total transaction of $1,231,000.00. Following the completion of the transaction, the insider now directly owns 3,544,807 shares in the company, valued at $43,636,574.17. This trade represents a 2.90% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 112,250 shares of company stock worth $1,380,970. Insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

OFIX has been the topic of a number of research analyst reports. Wall Street Zen raised shares of Orthofix Medical from a “sell” rating to a “hold” rating in a report on Saturday. Roth Mkm reissued a “buy” rating and set a $22.00 price target on shares of Orthofix Medical in a research note on Wednesday, February 26th. JMP Securities reissued a “market perform” rating on shares of Orthofix Medical in a report on Friday, June 6th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $24.00 price objective on shares of Orthofix Medical in a report on Wednesday, February 26th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $23.33.

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.