Millennium Management LLC Reduces Position in Orthofix Medical Inc. (NASDAQ:OFIX)

Millennium Management LLC decreased its position in shares of Orthofix Medical Inc. (NASDAQ:OFIX - Free Report) by 9.4% during the second quarter, according to its most recent filing with the SEC. The firm owned 392,821 shares of the medical device company's stock after selling 40,927 shares during the period. Millennium Management LLC owned about 1.05% of Orthofix Medical worth $5,209,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in OFIX. nVerses Capital LLC bought a new position in Orthofix Medical in the second quarter worth $27,000. Quest Partners LLC bought a new position in shares of Orthofix Medical in the 2nd quarter worth about $64,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Orthofix Medical by 25.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,435 shares of the medical device company's stock valued at $125,000 after acquiring an additional 1,919 shares during the period. Arizona State Retirement System bought a new stake in Orthofix Medical during the second quarter worth about $139,000. Finally, XTX Topco Ltd purchased a new stake in Orthofix Medical in the second quarter worth about $175,000. Institutional investors own 89.76% of the company's stock.

Orthofix Medical Stock Up 3.9 %

Shares of NASDAQ OFIX traded up $0.58 on Friday, reaching $15.58. 153,067 shares of the company's stock traded hands, compared to its average volume of 333,282. The business's 50 day simple moving average is $16.22 and its two-hundred day simple moving average is $14.88. Orthofix Medical Inc. has a 12 month low of $9.57 and a 12 month high of $17.67. The company has a market cap of $594.69 million, a price-to-earnings ratio of -4.88 and a beta of 1.05. The company has a quick ratio of 1.13, a current ratio of 2.48 and a debt-to-equity ratio of 0.24.

Orthofix Medical (NASDAQ:OFIX - Get Free Report) last posted 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). Orthofix Medical had a negative net margin of 15.61% and a negative return on equity of 20.68%. The company had revenue of $198.62 million for the quarter, compared to the consensus estimate of $195.75 million. As a group, equities research analysts forecast that Orthofix Medical Inc. will post -2.13 EPS for the current fiscal 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.