Russell Investments Group Ltd. Buys 4,329 Shares of Orthofix Medical Inc. (NASDAQ:OFIX)

Russell Investments Group Ltd. lifted its stake in shares of Orthofix Medical Inc. (NASDAQ:OFIX) by 2.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 170,573 shares of the medical device company’s stock after purchasing an additional 4,329 shares during the quarter. Russell Investments Group Ltd.’s holdings in Orthofix Medical were worth $2,978,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Wells Fargo & Company MN increased its position in shares of Orthofix Medical by 22.8% during the fourth quarter. Wells Fargo & Company MN now owns 24,007 shares of the medical device company’s stock valued at $419,000 after buying an additional 4,462 shares during the period. Trexquant Investment LP grew its stake in Orthofix Medical by 75.3% during the fourth quarter. Trexquant Investment LP now owns 55,680 shares of the medical device company’s stock valued at $972,000 after acquiring an additional 23,912 shares in the last quarter. Geode Capital Management LLC increased its holdings in Orthofix Medical by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 841,637 shares of the medical device company’s stock worth $14,699,000 after acquiring an additional 2,448 shares during the period. Arrowstreet Capital Limited Partnership purchased a new stake in Orthofix Medical in the 4th quarter worth approximately $1,286,000. Finally, JPMorgan Chase & Co. boosted its holdings in Orthofix Medical by 244.1% in the 4th quarter. JPMorgan Chase & Co. now owns 290,351 shares of the medical device company’s stock valued at $5,070,000 after purchasing an additional 205,972 shares during the period. Hedge funds and other institutional investors own 89.76% of the company’s stock.

Analyst Upgrades and Downgrades

OFIX has been the topic of several research analyst reports. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $24.00 price target on shares of Orthofix Medical in a report on Wednesday, February 26th. StockNews.com upgraded Orthofix Medical from a “hold” rating to a “buy” rating in a research note on Tuesday, February 25th. Finally, Roth Mkm reiterated a “buy” rating and set a $22.00 price target 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 given a buy rating to the company. According to MarketBeat.com, Orthofix Medical currently has an average rating of “Moderate Buy” and a consensus target price of $23.33.

Insiders Place Their Bets

In related news, insider Lucas Vitale sold 4,287 shares of the business’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $16.60, for a total value of $71,164.20. Following the completion of the sale, the insider now owns 135,317 shares in the company, valued at $2,246,262.20. The trade was a 3.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders sold a total of 5,426 shares of company stock valued at $90,919 over the last 90 days. Insiders own 2.60% of the company’s stock.

Orthofix Medical Stock Up 0.5 %

Shares of NASDAQ:OFIX opened at $13.03 on Friday. The firm has a market capitalization of $508.46 million, a PE ratio of -4.16 and a beta of 0.99. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.11 and a current ratio of 2.39. Orthofix Medical Inc. has a 52-week low of $12.08 and a 52-week high of $20.73. The firm has a fifty day moving average of $16.35 and a 200 day moving average of $17.16.

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.