Barclays PLC Raises Holdings in Orthofix Medical Inc. (NASDAQ:OFIX)

Barclays PLC grew its stake in shares of Orthofix Medical Inc. (NASDAQ:OFIX - Free Report) by 38.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 122,472 shares of the medical device company's stock after buying an additional 34,210 shares during the period. Barclays PLC owned 0.32% of Orthofix Medical worth $1,912,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of OFIX. Victory Capital Management Inc. bought a new stake in shares of Orthofix Medical during the 2nd quarter valued at about $832,000. Charles Schwab Investment Management Inc. lifted its position in Orthofix Medical by 14.0% during 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 purchasing an additional 39,901 shares during the last quarter. AYAL Capital Advisors Ltd grew its stake in Orthofix Medical by 10.2% in the 2nd quarter. AYAL Capital Advisors Ltd now owns 686,794 shares of the medical device company's stock worth $9,107,000 after buying an additional 63,697 shares in the last quarter. Paradigm Capital Management Inc. NY grew its stake in Orthofix Medical by 31.3% in the 2nd quarter. Paradigm Capital Management Inc. NY now owns 2,556,100 shares of the medical device company's stock worth $33,894,000 after buying an additional 609,137 shares in the last quarter. Finally, HighTower Advisors LLC increased its holdings in shares of Orthofix Medical by 114.9% in the 3rd quarter. HighTower Advisors LLC now owns 89,183 shares of the medical device company's stock worth $1,393,000 after buying an additional 47,680 shares during the last quarter. 89.76% of the stock is owned by hedge funds and other institutional investors.

Orthofix Medical Price Performance

Shares of OFIX stock traded down $0.30 during trading hours on Friday, hitting $17.53. 154,513 shares of the company's stock were exchanged, compared to its average volume of 318,257. Orthofix Medical Inc. has a 12-month low of $12.08 and a 12-month high of $20.73. The company has a market capitalization of $669.89 million, a PE ratio of -5.60 and a beta of 1.09. The business's 50 day simple moving average is $17.92 and its 200-day simple moving average is $16.29. The company has a current ratio of 2.39, a quick ratio of 1.11 and a debt-to-equity ratio of 0.25.

Analysts Set New Price Targets

OFIX has been the subject of a number of research analyst reports. Roth Mkm reaffirmed a "buy" rating and set a $22.00 price objective (up from $20.00) on shares of Orthofix Medical in a report on Friday, November 8th. Stifel Nicolaus raised Orthofix Medical from a "hold" rating to a "buy" rating and lifted their price target for the stock from $18.00 to $24.00 in a research note on Friday, November 8th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $23.00.

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.