Algert Global LLC Boosts Stock Holdings in Orthofix Medical Inc. (NASDAQ:OFIX)

Algert Global LLC raised its stake in shares of Orthofix Medical Inc. (NASDAQ:OFIX - Free Report) by 25.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 214,445 shares of the medical device company's stock after acquiring an additional 43,753 shares during the quarter. Algert Global LLC owned approximately 0.56% of Orthofix Medical worth $3,350,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of OFIX. State Board of Administration of Florida Retirement System boosted its position in Orthofix Medical by 34.7% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 13,562 shares of the medical device company's stock valued at $197,000 after acquiring an additional 3,490 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Orthofix Medical by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 2,008,816 shares of the medical device company's stock worth $29,168,000 after purchasing an additional 9,150 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Orthofix Medical by 3.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 32,957 shares of the medical device company's stock worth $479,000 after purchasing an additional 1,236 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Orthofix Medical by 6.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 143,772 shares of the medical device company's stock worth $1,906,000 after purchasing an additional 9,118 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Orthofix Medical by 25.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,435 shares of the medical device company's stock worth $125,000 after purchasing an additional 1,919 shares in the last quarter. Institutional investors own 89.76% of the company's stock.

Orthofix Medical Stock Performance

OFIX traded up $0.30 on Tuesday, reaching $19.34. 260,502 shares of the stock were exchanged, compared to its average volume of 328,875. The company's 50-day moving average price is $16.68 and its 200 day moving average price is $15.70. Orthofix Medical Inc. has a fifty-two week low of $10.28 and a fifty-two week high of $20.73. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.39 and a quick ratio of 1.11. The firm has a market capitalization of $738.98 million, a PE ratio of -6.16 and a beta of 1.05.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on OFIX shares. Stifel Nicolaus raised Orthofix Medical from a "hold" rating to a "buy" rating and raised their price objective for the stock from $18.00 to $24.00 in a research report on Friday, November 8th. Roth Mkm reissued a "buy" rating and issued a $22.00 price objective (up previously from $20.00) on shares of Orthofix Medical in a research report on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Orthofix Medical presently has an average rating of "Moderate Buy" and a consensus target price of $23.00.

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.