24,469 Shares in Orthofix Medical Inc. (NASDAQ:OFIX) Acquired by Magnetar Financial LLC

Magnetar Financial LLC bought a new stake in Orthofix Medical Inc. (NASDAQ:OFIX - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 24,469 shares of the medical device company's stock, valued at approximately $427,000. Magnetar Financial LLC owned 0.06% of Orthofix Medical as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of OFIX. R Squared Ltd acquired a new stake in Orthofix Medical in the 4th quarter worth about $50,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Orthofix Medical by 5.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,994 shares of the medical device company's stock worth $156,000 after purchasing an additional 559 shares in the last quarter. Quest Partners LLC lifted its position in Orthofix Medical by 187.1% during the third quarter. Quest Partners LLC now owns 13,908 shares of the medical device company's stock worth $217,000 after buying an additional 9,063 shares in the last quarter. Inceptionr LLC acquired a new position in shares of Orthofix Medical during the 4th quarter valued at about $279,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Orthofix Medical in the 3rd quarter valued at approximately $270,000. Institutional investors and hedge funds own 89.76% of the company's stock.

Orthofix Medical Stock Down 0.7 %

Shares of OFIX traded down $0.12 during mid-day trading on Thursday, hitting $16.16. 141,486 shares of the company's stock were exchanged, compared to its average volume of 253,795. The stock's 50-day moving average is $17.71 and its 200-day moving average is $17.37. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.11 and a current ratio of 2.39. Orthofix Medical Inc. has a fifty-two week low of $12.08 and a fifty-two week high of $20.73. The company has a market cap of $630.60 million, a price-to-earnings ratio of -5.16 and a beta of 1.06.

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Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Canaccord Genuity Group restated a "buy" rating and issued a $24.00 target price on shares of Orthofix Medical in a research report on Wednesday, February 26th. StockNews.com upgraded shares of Orthofix Medical from a "hold" rating to a "buy" rating in a research report on Tuesday, February 25th. Finally, Roth Mkm restated a "buy" rating and issued a $22.00 price objective on shares of Orthofix Medical in a report on Wednesday, February 26th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $23.33.

Insiders Place Their Bets

In other news, CFO Julie Andrews sold 4,655 shares of the business's stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $17.89, for a total transaction of $83,277.95. Following the completion of the transaction, the chief financial officer now directly owns 28,312 shares of the company's stock, valued at approximately $506,501.68. The trade was a 14.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Lucas Vitale sold 4,287 shares of the firm's stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $16.60, for a total transaction of $71,164.20. Following the completion of 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 29,999 shares of company stock worth $512,497 in the last ninety days. 2.60% of the stock is owned by corporate insiders.

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.