Russell Investments Group Ltd. Has $2.91 Million Stock Holdings in Orthofix Medical Inc. $OFIX

Russell Investments Group Ltd. grew its holdings in Orthofix Medical Inc. (NASDAQ:OFIX) by 4.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 178,213 shares of the medical device company’s stock after purchasing an additional 7,640 shares during the quarter. Russell Investments Group Ltd. owned about 0.46% of Orthofix Medical worth $2,907,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in OFIX. Wells Fargo & Company MN increased its position in Orthofix Medical by 22.8% in the 4th quarter. Wells Fargo & Company MN now owns 24,007 shares of the medical device company’s stock valued at $419,000 after buying an additional 4,462 shares in the last quarter. Invesco Ltd. increased its position in Orthofix Medical by 1.0% in the 4th quarter. Invesco Ltd. now owns 74,977 shares of the medical device company’s stock valued at $1,309,000 after buying an additional 767 shares in the last quarter. Renaissance Technologies LLC increased its position in Orthofix Medical by 166.9% in the 4th quarter. Renaissance Technologies LLC now owns 82,190 shares of the medical device company’s stock valued at $1,435,000 after buying an additional 51,399 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Orthofix Medical in the 4th quarter valued at about $1,003,000. Finally, XTX Topco Ltd bought a new stake in Orthofix Medical in the 4th quarter valued at about $234,000. 89.76% of the stock is owned by institutional investors.

Insider Buying and Selling at Orthofix Medical

In other news, insider Aviva Mcpherron sold 3,728 shares of the business’s stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $10.51, for a total value of $39,181.28. Following the transaction, the insider owned 46,322 shares in the company, valued at $486,844.22. The trade was a 7.45% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on OFIX. Wall Street Zen raised Orthofix Medical from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. JMP Securities reissued a “market perform” rating on shares of Orthofix Medical in a report on Friday, June 6th. Finally, Barrington Research raised Orthofix Medical to a “strong-buy” rating and set a $16.00 price objective for the company in a report on Monday, June 23rd. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Orthofix Medical has an average rating of “Buy” and an average target price of $21.50.

Orthofix Medical Stock Performance

Shares of OFIX opened at $14.55 on Monday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.50 and a current ratio of 2.67. The stock has a 50 day moving average price of $11.74 and a two-hundred day moving average price of $13.56. The firm has a market capitalization of $574.58 million, a P/E ratio of -4.59 and a beta of 0.82. Orthofix Medical Inc. has a 52 week low of $10.24 and a 52 week high of $20.73.

Orthofix Medical (NASDAQ:OFIX) last issued its quarterly earnings data on Tuesday, August 5th. The medical device company reported ($0.36) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.40). Orthofix Medical had a negative return on equity of 25.43% and a negative net margin of 15.29%.The company had revenue of $203.12 million for the quarter, compared to the consensus estimate of $196.89 million. Orthofix Medical has set its FY 2025 guidance at EPS. Equities analysts forecast that Orthofix Medical Inc. will post -2.81 earnings per share for the current fiscal year.

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.