Arrowstreet Capital Limited Partnership Invests $1.29 Million in Orthofix Medical Inc. (NASDAQ:OFIX)

Arrowstreet Capital Limited Partnership purchased a new position in shares of Orthofix Medical Inc. (NASDAQ:OFIX - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 73,640 shares of the medical device company's stock, valued at approximately $1,286,000. Arrowstreet Capital Limited Partnership owned 0.19% of Orthofix Medical at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the business. Charles Schwab Investment Management Inc. lifted its stake in 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 valued at $5,073,000 after buying an additional 39,901 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in Orthofix Medical by 37.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 34,758 shares of the medical device company's stock worth $543,000 after purchasing an additional 9,456 shares during the period. HighTower Advisors LLC increased its holdings in Orthofix Medical by 114.9% during the 3rd 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 in the last quarter. Jane Street Group LLC raised its stake in shares of Orthofix Medical by 10.7% in the 3rd quarter. Jane Street Group LLC now owns 48,134 shares of the medical device company's stock valued at $752,000 after purchasing an additional 4,647 shares during the period. Finally, Barclays PLC lifted its holdings in shares of Orthofix Medical by 38.8% in the third quarter. Barclays PLC now owns 122,472 shares of the medical device company's stock valued at $1,912,000 after purchasing an additional 34,210 shares in the last quarter. Institutional investors own 89.76% of the company's stock.

Insider Activity at Orthofix Medical

In other news, insider Lucas Vitale sold 4,287 shares of the firm'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 directly owns 135,317 shares of the company's stock, valued at $2,246,262.20. This trade represents a 3.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In the last ninety days, insiders sold 5,426 shares of company stock worth $90,919. Insiders own 2.60% of the company's stock.

Orthofix Medical Stock Performance

Shares of OFIX traded down $0.06 during midday trading on Thursday, reaching $12.90. The stock had a trading volume of 31,351 shares, compared to its average volume of 259,027. The firm has a market cap of $503.38 million, a PE ratio of -4.14 and a beta of 0.99. The firm has a 50 day simple moving average of $16.45 and a 200-day simple moving average of $17.18. Orthofix Medical Inc. has a one year low of $12.08 and a one year 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.

Analyst Ratings Changes

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

Orthofix Medical Company 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.