Millrace Asset Group Inc. Invests $906,000 in Orthofix Medical Inc. (NASDAQ:OFIX)

Millrace Asset Group Inc. acquired a new position in shares of Orthofix Medical Inc. (NASDAQ:OFIX - Free Report) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 58,027 shares of the medical device company's stock, valued at approximately $906,000. Millrace Asset Group Inc. owned approximately 0.15% of Orthofix Medical at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of OFIX. nVerses Capital LLC bought a new stake in Orthofix Medical in the second quarter worth $27,000. Quest Partners LLC purchased a new position in shares of Orthofix Medical in the 2nd quarter worth $64,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings 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 buying an additional 1,919 shares during the last quarter. Arizona State Retirement System purchased a new stake in shares of Orthofix Medical during the 2nd quarter valued at about $139,000. Finally, XTX Topco Ltd bought a new position in shares of Orthofix Medical in the 2nd quarter valued at about $175,000. 89.76% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Orthofix Medical Trading Up 1.6 %

Shares of NASDAQ:OFIX traded up $0.30 during trading hours on Tuesday, hitting $19.34. 260,502 shares of the company's stock traded hands, compared to its average volume of 329,143. The firm has a market capitalization of $738.98 million, a P/E ratio of -6.16 and a beta of 1.05. The business has a fifty day moving average price of $16.68 and a 200-day moving average price of $15.70. Orthofix Medical Inc. has a 1 year low of $10.28 and a 1 year 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.

About Orthofix Medical

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.