AREX Capital Management LP Reduces Position in Orthofix Medical Inc. $OFIX

AREX Capital Management LP trimmed its position in shares of Orthofix Medical Inc. (NASDAQ:OFIX) by 78.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,500 shares of the medical device company’s stock after selling 63,500 shares during the period. Orthofix Medical comprises 0.4% of AREX Capital Management LP’s holdings, making the stock its 16th biggest holding. AREX Capital Management LP’s holdings in Orthofix Medical were worth $195,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. US Bancorp DE boosted its position in shares of Orthofix Medical by 684.6% during the first quarter. US Bancorp DE now owns 5,673 shares of the medical device company’s stock valued at $93,000 after buying an additional 4,950 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Orthofix Medical during the 2nd quarter worth approximately $147,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in Orthofix Medical by 32.6% during the 2nd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 13,297 shares of the medical device company’s stock valued at $148,000 after acquiring an additional 3,271 shares during the period. Strs Ohio purchased a new position in Orthofix Medical during the 1st quarter valued at $150,000. Finally, The Manufacturers Life Insurance Company grew its position in Orthofix Medical by 21.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 14,867 shares of the medical device company’s stock valued at $166,000 after acquiring an additional 2,589 shares during the last quarter. Institutional investors own 89.76% of the company’s stock.

Orthofix Medical Price Performance

NASDAQ OFIX opened at $15.49 on Friday. The company has a market cap of $613.40 million, a PE ratio of -5.11 and a beta of 0.82. The firm’s 50 day moving average price is $15.31 and its 200-day moving average price is $13.54. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.38 and a current ratio of 2.47. Orthofix Medical Inc. has a 52-week low of $10.24 and a 52-week high of $20.48.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on OFIX shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Orthofix Medical in a research report on Wednesday, October 8th. Stifel Nicolaus began coverage on shares of Orthofix Medical in a report on Tuesday, October 28th. They set a “buy” rating and a $22.00 price objective for the company. Finally, Barrington Research boosted their price objective on shares of Orthofix Medical from $17.00 to $18.00 and gave the company an “outperform” rating in a research report on Wednesday, November 5th. Four 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’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price 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.