Public Employees Retirement System of Ohio Makes New Investment in Orthofix Medical Inc. $OFIX

Public Employees Retirement System of Ohio acquired a new position in shares of Orthofix Medical Inc. (NASDAQ:OFIX) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 29,114 shares of the medical device company’s stock, valued at approximately $325,000. Public Employees Retirement System of Ohio owned 0.07% of Orthofix Medical as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Engine Capital Management LP raised its position in shares of Orthofix Medical by 8.4% in the first quarter. Engine Capital Management LP now owns 3,741,390 shares of the medical device company’s stock valued at $61,022,000 after buying an additional 290,646 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Orthofix Medical by 2.6% in the first quarter. Vanguard Group Inc. now owns 2,181,313 shares of the medical device company’s stock valued at $35,577,000 after buying an additional 54,528 shares during the last quarter. Juniper Investment Company LLC raised its position in shares of Orthofix Medical by 10.3% in the first quarter. Juniper Investment Company LLC now owns 2,137,374 shares of the medical device company’s stock valued at $34,861,000 after buying an additional 200,125 shares during the last quarter. Emerald Mutual Fund Advisers Trust raised its position in shares of Orthofix Medical by 2.1% in the first quarter. Emerald Mutual Fund Advisers Trust now owns 514,524 shares of the medical device company’s stock valued at $8,392,000 after buying an additional 10,722 shares during the last quarter. Finally, Philosophy Capital Management LLC acquired a new stake in shares of Orthofix Medical in the first quarter valued at about $6,047,000. 89.76% of the stock is currently owned by institutional investors and hedge funds.

Orthofix Medical Trading Down 3.0%

Shares of OFIX stock opened at $14.17 on Tuesday. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.67 and a quick ratio of 1.50. The firm has a market cap of $559.57 million, a PE ratio of -4.47 and a beta of 0.89. The company has a 50-day moving average of $14.05 and a two-hundred day moving average of $12.96. Orthofix Medical Inc. has a 1-year low of $10.24 and a 1-year high of $20.73.

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

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on OFIX. Barrington Research reiterated an “outperform” rating and issued a $17.00 target price on shares of Orthofix Medical in a research report on Tuesday, September 23rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Orthofix Medical in a research report on Saturday, September 27th. Finally, Wall Street Zen upgraded shares of Orthofix Medical from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $21.75.

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.