Orthofix Medical Inc. (NASDAQ:OFIX) Shares Bought by Gabelli Funds LLC

Gabelli Funds LLC raised its position in Orthofix Medical Inc. (NASDAQ:OFIX) by 4.7% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 146,000 shares of the medical device company’s stock after buying an additional 6,500 shares during the quarter. Gabelli Funds LLC owned about 0.39% of Orthofix Medical worth $2,120,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of OFIX. Vanguard Group Inc. increased its stake in Orthofix Medical by 3.3% in the 3rd quarter. Vanguard Group Inc. now owns 2,486,073 shares of the medical device company’s stock valued at $31,971,000 after buying an additional 79,793 shares during the period. Arizona State Retirement System purchased a new stake in shares of Orthofix Medical during the 4th quarter worth $138,000. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Orthofix Medical during the 4th quarter worth $474,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Orthofix Medical by 30.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,516 shares of the medical device company’s stock worth $101,000 after purchasing an additional 1,752 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its position in shares of Orthofix Medical by 102.2% during the 4th quarter. Russell Investments Group Ltd. now owns 233,979 shares of the medical device company’s stock worth $3,154,000 after purchasing an additional 118,269 shares in the last quarter. 89.76% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have commented on OFIX. Roth Mkm upgraded shares of Orthofix Medical from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $15.00 to $20.00 in a research report on Wednesday, May 8th. Roth Capital upgraded shares of Orthofix Medical from a “neutral” rating to a “buy” rating in a research report on Wednesday, May 8th. StockNews.com upgraded shares of Orthofix Medical from a “sell” rating to a “hold” rating in a research report on Wednesday, May 8th. Finally, JMP Securities reiterated a “market perform” rating on shares of Orthofix Medical in a research report on Monday, April 22nd. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Orthofix Medical currently has a consensus rating of “Hold” and a consensus price target of $18.00.

Orthofix Medical Price Performance

Shares of Orthofix Medical stock remained flat at $16.51 on Friday. 242,940 shares of the company traded hands, compared to its average volume of 273,062. Orthofix Medical Inc. has a 1-year low of $9.57 and a 1-year high of $21.60. The company has a quick ratio of 1.19, a current ratio of 2.65 and a debt-to-equity ratio of 0.23. The business has a 50-day moving average of $14.20 and a two-hundred day moving average of $13.99. The stock has a market cap of $619.62 million, a P/E ratio of -4.88 and a beta of 1.05.

Orthofix Medical (NASDAQ:OFIX) last released its quarterly earnings data on Tuesday, May 7th. The medical device company reported ($0.95) EPS for the quarter, missing the consensus estimate of ($0.54) by ($0.41). The business had revenue of $188.61 million during the quarter, compared to analysts’ expectations of $183.40 million. Orthofix Medical had a negative return on equity of 14.24% and a negative net margin of 16.64%. As a group, analysts expect that Orthofix Medical Inc. will post -1.72 earnings per share for the current year.

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.