JPMorgan Chase & Co. Increases Position in Orthofix Medical Inc. (NASDAQ:OFIX)

JPMorgan Chase & Co. raised its position in shares of Orthofix Medical Inc. (NASDAQ:OFIX - Free Report) by 244.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 290,351 shares of the medical device company's stock after acquiring an additional 205,972 shares during the period. JPMorgan Chase & Co. owned approximately 0.76% of Orthofix Medical worth $5,070,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in OFIX. R Squared Ltd purchased a new stake in Orthofix Medical in the 4th quarter worth about $50,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Orthofix Medical in the fourth quarter worth approximately $112,000. Inceptionr LLC bought a new stake in shares of Orthofix Medical during the 4th quarter worth approximately $279,000. Fox Run Management L.L.C. purchased a new position in Orthofix Medical during the 4th quarter valued at $327,000. Finally, Franklin Resources Inc. boosted its holdings 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 valued at $337,000 after acquiring an additional 5,702 shares during the period. Institutional investors own 89.76% of the company's stock.

Orthofix Medical Stock Up 1.5 %

NASDAQ:OFIX traded up $0.20 during mid-day trading on Wednesday, reaching $13.34. The company's stock had a trading volume of 62,956 shares, compared to its average volume of 257,318. The company has a quick ratio of 1.11, a current ratio of 2.39 and a debt-to-equity ratio of 0.25. Orthofix Medical Inc. has a 1 year low of $12.08 and a 1 year high of $20.73. The stock has a fifty day moving average of $16.04 and a 200-day moving average of $17.13. The firm has a market capitalization of $520.36 million, a PE ratio of -4.26 and a beta of 0.99.

Insider Activity

In other Orthofix Medical news, insider Jorge Andres Cedron sold 3,816 shares of Orthofix Medical stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $13.31, for a total value of $50,790.96. Following the transaction, the insider now owns 42,500 shares in the company, valued at $565,675. The trade was a 8.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Lucas Vitale sold 4,287 shares of the business's stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $16.60, for a total transaction of $71,164.20. Following the completion of the transaction, the insider now owns 135,317 shares of the company's stock, valued at $2,246,262.20. This represents a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 9,242 shares of company stock worth $141,710. Corporate insiders own 2.60% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on OFIX shares. Roth Mkm reissued a "buy" rating and set a $22.00 target price on shares of Orthofix Medical in a research note on Wednesday, February 26th. StockNews.com upgraded shares of Orthofix Medical from a "hold" rating to a "buy" rating in a research note on Tuesday, February 25th. Finally, Canaccord Genuity Group reaffirmed a "buy" rating and set a $24.00 target price on shares of Orthofix Medical in a research report on Wednesday, February 26th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, Orthofix Medical presently has an average rating of "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.