Charles Schwab Investment Management Inc. Buys 14,724 Shares of Orthofix Medical Inc. (NASDAQ:OFIX)

Charles Schwab Investment Management Inc. grew its stake in shares of Orthofix Medical Inc. (NASDAQ:OFIX) by 4.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 339,531 shares of the medical device company’s stock after purchasing an additional 14,724 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Orthofix Medical were worth $5,928,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in OFIX. Franklin Resources Inc. raised its stake in Orthofix Medical by 37.4% during the 3rd quarter. Franklin Resources Inc. now owns 20,960 shares of the medical device company’s stock worth $337,000 after buying an additional 5,702 shares during the period. Barclays PLC increased its holdings in shares of Orthofix Medical by 38.8% during the third quarter. Barclays PLC now owns 122,472 shares of the medical device company’s stock valued at $1,912,000 after acquiring an additional 34,210 shares in the last quarter. 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 worth $1,393,000 after purchasing an additional 47,680 shares during the period. Kirr Marbach & Co. LLC IN bought a new position in shares of Orthofix Medical in the 4th quarter worth $532,000. Finally, JPMorgan Chase & Co. grew its position in Orthofix Medical by 480.7% in 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. Institutional investors own 89.76% of the company’s stock.

Insider Buying and Selling

In related news, insider Lucas Vitale sold 4,287 shares of Orthofix Medical stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $16.60, for a total transaction of $71,164.20. Following the sale, the insider now directly owns 135,317 shares in the company, valued at approximately $2,246,262.20. This trade represents a 3.07 % 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, CEO Massimo Calafiore sold 9,203 shares of the business’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $17.14, for a total value of $157,739.42. Following the completion of the transaction, the chief executive officer now directly owns 124,151 shares in the company, valued at approximately $2,127,948.14. This represents a 6.90 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 29,999 shares of company stock worth $512,497. 2.60% of the stock is owned by insiders.

Orthofix Medical Stock Performance

NASDAQ OFIX opened at $16.74 on Tuesday. The company has a fifty day moving average price of $17.76 and a 200-day moving average price of $17.37. The firm has a market cap of $653.23 million, a price-to-earnings ratio of -5.35 and a beta of 1.06. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.39 and a quick ratio of 1.11. Orthofix Medical Inc. has a 1 year low of $12.08 and a 1 year high of $20.73.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Canaccord Genuity Group restated a “buy” rating and set a $24.00 price objective on shares of Orthofix Medical in a report on Wednesday, February 26th. StockNews.com upgraded shares of Orthofix Medical from a “hold” rating to a “buy” rating in a report 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 note on Wednesday, February 26th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Orthofix Medical currently has a consensus rating of “Moderate Buy” and an average price target of $23.33.

Orthofix Medical 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.