Orthofix Medical Inc. (NASDAQ:OFIX) Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas cut its stake in Orthofix Medical Inc. (NASDAQ:OFIX) by 39.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 81,455 shares of the medical device company’s stock after selling 53,554 shares during the period. Teacher Retirement System of Texas owned approximately 0.21% of Orthofix Medical worth $1,329,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of OFIX. Lazard Asset Management LLC acquired a new stake in shares of Orthofix Medical in the fourth quarter worth approximately $45,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Orthofix Medical in the fourth quarter worth approximately $112,000. Tower Research Capital LLC TRC boosted its position in shares of 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 acquiring an additional 4,627 shares during the last quarter. State of Wyoming boosted its position in shares of Orthofix Medical by 206.8% in the fourth quarter. State of Wyoming now owns 9,432 shares of the medical device company’s stock worth $165,000 after acquiring an additional 6,358 shares during the last quarter. Finally, XTX Topco Ltd acquired a new stake in shares of Orthofix Medical in the fourth quarter worth approximately $234,000. 89.76% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, major shareholder Engine Capital Management, Lp purchased 100,000 shares of Orthofix Medical stock in a transaction dated Wednesday, May 7th. The stock was bought at an average price of $12.31 per share, with a total value of $1,231,000.00. Following the completion of the acquisition, the insider owned 3,544,807 shares in the company, valued at $43,636,574.17. The trade was a 2.90% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jorge Andres Cedron sold 3,816 shares of the company’s stock in a transaction that occurred on 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 sale, the insider directly owned 42,500 shares of the company’s stock, valued at approximately $565,675. This represents a 8.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders acquired 113,500 shares of company stock valued at $1,394,858. 1.30% of the stock is currently owned by company insiders.

Orthofix Medical Trading Down 2.7%

NASDAQ OFIX opened at $11.05 on Friday. The company’s fifty day simple moving average is $11.34 and its 200-day simple moving average is $14.77. Orthofix Medical Inc. has a 52 week low of $10.24 and a 52 week high of $20.73. The company has a current ratio of 2.71, a quick ratio of 1.50 and a debt-to-equity ratio of 0.38. The stock has a market cap of $432.94 million, a P/E ratio of -2.99 and a beta of 0.80.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on OFIX. Wall Street Zen cut shares of Orthofix Medical from a “hold” rating to a “sell” rating in a research report on Friday, June 27th. JMP Securities reaffirmed a “market perform” rating on shares of Orthofix Medical in a research report on Friday, June 6th. Finally, Barrington Research raised shares of Orthofix Medical to a “strong-buy” rating and set a $16.00 price target on the stock in a research report on Monday, June 23rd. One research analyst has rated the stock with a sell rating, one has given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $21.50.

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.