Sei Investments Co. Sells 11,225 Shares of Orthofix Medical Inc. (NASDAQ:OFIX)

Sei Investments Co. lowered its position in shares of Orthofix Medical Inc. (NASDAQ:OFIX) by 25.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 33,326 shares of the medical device company’s stock after selling 11,225 shares during the period. Sei Investments Co.’s holdings in Orthofix Medical were worth $582,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. JPMorgan Chase & Co. raised its stake in Orthofix Medical by 480.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 84,379 shares of the medical device company’s stock valued at $1,318,000 after purchasing an additional 69,848 shares during the period. Teacher Retirement System of Texas grew its holdings in Orthofix Medical by 90.0% during the 4th quarter. Teacher Retirement System of Texas now owns 135,009 shares of the medical device company’s stock valued at $2,357,000 after buying an additional 63,939 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Orthofix Medical during the fourth quarter valued at approximately $1,003,000. HighTower Advisors LLC raised its position in shares of Orthofix Medical by 114.9% during the third quarter. HighTower Advisors LLC now owns 89,183 shares of the medical device company’s stock valued at $1,393,000 after buying an additional 47,680 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Orthofix Medical by 14.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 324,807 shares of the medical device company’s stock worth $5,073,000 after buying an additional 39,901 shares in the last quarter. 89.76% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. StockNews.com upgraded shares of Orthofix Medical from a “hold” rating to a “buy” rating in a report on Tuesday, February 25th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $24.00 target price on shares of Orthofix Medical in a report on Wednesday, February 26th. Finally, Roth Mkm reiterated a “buy” rating and issued a $22.00 target price on shares of Orthofix Medical in a research report on Wednesday, February 26th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $23.33.

Orthofix Medical Stock Up 5.4 %

Shares of NASDAQ:OFIX opened at $14.72 on Thursday. The company has a market cap of $574.40 million, a price-to-earnings ratio of -4.70 and a beta of 0.99. Orthofix Medical Inc. has a 12 month low of $12.08 and a 12 month high of $20.73. The company has a current ratio of 2.39, a quick ratio of 1.11 and a debt-to-equity ratio of 0.25. The company has a 50-day moving average price of $16.96 and a 200 day moving average price of $17.26.

Insider Activity

In other news, CFO Julie Andrews sold 4,655 shares of the stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $17.89, for a total value of $83,277.95. Following the sale, the chief financial officer now owns 28,312 shares of the company’s stock, valued at approximately $506,501.68. This represents a 14.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Lucas Vitale sold 4,287 shares of Orthofix Medical stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $16.60, for a total transaction of $71,164.20. Following the transaction, the insider now directly owns 135,317 shares of the company’s stock, valued at approximately $2,246,262.20. This represents a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,837 shares of company stock valued at $509,614. 2.60% of the stock is currently owned by insiders.

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.