Squarepoint Ops LLC Purchases 98,552 Shares of Orthofix Medical Inc. $OFIX

Squarepoint Ops LLC increased its position in Orthofix Medical Inc. (NASDAQ:OFIX) by 515.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 117,666 shares of the medical device company’s stock after purchasing an additional 98,552 shares during the period. Squarepoint Ops LLC owned approximately 0.30% of Orthofix Medical worth $1,312,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of OFIX. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Orthofix Medical in the second quarter valued at $147,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its holdings in shares of Orthofix Medical by 32.6% in 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 worth $148,000 after acquiring an additional 3,271 shares during the last quarter. Strs Ohio bought a new position in Orthofix Medical in the 1st quarter valued at about $150,000. The Manufacturers Life Insurance Company boosted its stake in Orthofix Medical by 21.1% during 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 purchasing an additional 2,589 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in Orthofix Medical by 32.6% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 17,550 shares of the medical device company’s stock worth $196,000 after purchasing an additional 4,314 shares in the last quarter. Institutional investors own 89.76% of the company’s stock.

Orthofix Medical Price Performance

OFIX opened at $15.46 on Friday. Orthofix Medical Inc. has a fifty-two week low of $10.24 and a fifty-two week high of $20.48. The firm has a 50-day moving average of $15.44 and a 200 day moving average of $13.70. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.38 and a current ratio of 2.47. The firm has a market cap of $612.22 million, a P/E ratio of -5.10 and a beta of 0.82.

Analysts Set New Price Targets

Several research analysts recently issued reports on OFIX shares. Stifel Nicolaus started coverage on Orthofix Medical in a research report on Tuesday, October 28th. They set a “buy” rating and a $22.00 target price on the stock. Barrington Research lifted their price objective on shares of Orthofix Medical from $17.00 to $18.00 and gave the stock an “outperform” rating in a report on Wednesday, November 5th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Orthofix Medical in a research note on Wednesday, October 8th. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Orthofix Medical currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.50.

Orthofix Medical Company Profile

Orthofix Medical Inc (NASDAQ: OFIX) is a global medical device company focused on the design and development of innovative orthopedic and spinal solutions. The company’s core business is divided into two segments: spine and orthopedics. In the spine segment, Orthofix offers a range of titanium implants, biologics and portable bone growth stimulation devices designed to support spinal fusion, deformity correction and minimally invasive procedures. Its orthopedic segment encompasses products for fracture fixation, external fixation systems, trauma care and sports medicine, providing surgeons with implantable devices and instruments for complex bone reconstruction and healing.

Orthofix’s product portfolio includes strut systems, bone growth stimulators, interbody fusion devices and fixation hardware that address various indications such as degenerative disc disease, spinal deformities, non-unions and long-bone fractures.