Renaissance Technologies LLC Decreases Stake in Orthofix Medical Inc. (NASDAQ:OFIX)

Renaissance Technologies LLC trimmed its position in Orthofix Medical Inc. (NASDAQ:OFIX - Free Report) by 52.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 56,071 shares of the medical device company's stock after selling 61,465 shares during the quarter. Renaissance Technologies LLC owned 0.15% of Orthofix Medical worth $744,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in OFIX. Boone Capital Management LLC purchased a new stake in shares of Orthofix Medical in the 4th quarter worth $6,740,000. Glenview Capital Management LLC purchased a new stake in shares of Orthofix Medical in the 4th quarter worth $6,740,000. BNP Paribas Financial Markets lifted its stake in shares of Orthofix Medical by 190.5% during the 1st quarter. BNP Paribas Financial Markets now owns 34,602 shares of the medical device company's stock worth $502,000 after purchasing an additional 22,690 shares during the last quarter. Mutual of America Capital Management LLC lifted its stake in shares of Orthofix Medical by 15.3% during the 1st quarter. Mutual of America Capital Management LLC now owns 175,671 shares of the medical device company's stock worth $2,551,000 after purchasing an additional 23,324 shares during the last quarter. Finally, GSA Capital Partners LLP purchased a new stake in shares of Orthofix Medical during the 1st quarter worth $921,000. 89.76% of the stock is currently owned by hedge funds and other institutional investors.

Orthofix Medical Stock Down 0.1 %

Shares of NASDAQ OFIX traded down $0.02 during mid-day trading on Wednesday, reaching $15.08. 225,051 shares of the company were exchanged, compared to its average volume of 334,861. The company has a quick ratio of 1.13, a current ratio of 2.48 and a debt-to-equity ratio of 0.24. The stock has a market cap of $575.60 million, a price-to-earnings ratio of -4.44 and a beta of 1.05. Orthofix Medical Inc. has a 1 year low of $9.57 and a 1 year high of $17.67. The firm has a 50-day moving average of $16.25 and a 200 day moving average of $14.85.

Orthofix Medical (NASDAQ:OFIX - Get Free Report) last issued its quarterly earnings data on Tuesday, August 6th. The medical device company reported ($0.88) earnings per share for the quarter, missing analysts' consensus estimates of ($0.30) by ($0.58). The company had revenue of $198.62 million for the quarter, compared to analysts' expectations of $195.75 million. Orthofix Medical had a negative return on equity of 20.68% and a negative net margin of 15.61%. On average, research analysts expect that Orthofix Medical Inc. will post -2.13 earnings per share for the current year.

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.