JPMorgan Chase & Co. Has $1.32 Million Holdings in Orthofix Medical Inc. (NASDAQ:OFIX)

JPMorgan Chase & Co. grew its stake in Orthofix Medical Inc. (NASDAQ:OFIX - Free Report) by 480.7% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 84,379 shares of the medical device company's stock after buying an additional 69,848 shares during the quarter. JPMorgan Chase & Co. owned 0.22% of Orthofix Medical worth $1,318,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. 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 valued at $156,000 after acquiring an additional 559 shares in the last quarter. XTX Topco Ltd bought a new stake in shares of Orthofix Medical in the second quarter worth $175,000. Assenagon Asset Management S.A. acquired a new position in Orthofix Medical during the third quarter worth $216,000. Quest Partners LLC boosted its holdings 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 purchasing an additional 9,063 shares during the last quarter. Finally, SG Americas Securities LLC grew its position in Orthofix Medical by 74.0% in the third quarter. SG Americas Securities LLC now owns 17,117 shares of the medical device company's stock valued at $267,000 after purchasing an additional 7,278 shares in the last quarter. Institutional investors own 89.76% of the company's stock.

Insiders Place Their Bets

In other news, CFO Julie Andrews sold 4,655 shares of the company's stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $17.89, for a total value of $83,277.95. Following the transaction, the chief financial officer now owns 28,312 shares of the company's stock, valued at approximately $506,501.68. This represents a 14.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Massimo Calafiore sold 9,203 shares of Orthofix Medical stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $17.14, for a total value of $157,739.42. Following the sale, the chief executive officer now directly owns 124,151 shares of the company's stock, valued at approximately $2,127,948.14. The trade was a 6.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 24,675 shares of company stock valued at $423,238 over the last ninety days. 2.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

OFIX has been the subject of a number of recent research reports. Stifel Nicolaus upgraded shares of Orthofix Medical from a "hold" rating to a "buy" rating and increased their price objective for the stock from $18.00 to $24.00 in a research note on Friday, November 8th. Roth Mkm reiterated a "buy" rating and set a $22.00 target price (up previously from $20.00) on shares of Orthofix Medical in a report on Friday, November 8th. Finally, Canaccord Genuity Group began coverage on Orthofix Medical in a research note on Wednesday. They issued a "buy" rating and a $24.00 price target for the company. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $23.33.

Orthofix Medical Stock Performance

Shares of OFIX stock traded up $0.07 on Friday, reaching $18.35. The stock had a trading volume of 164,555 shares, compared to its average volume of 182,493. Orthofix Medical Inc. has a 12 month low of $12.08 and a 12 month high of $20.73. The company has a quick ratio of 1.11, a current ratio of 2.39 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $701.15 million, a price-to-earnings ratio of -5.86 and a beta of 1.10. The firm's 50-day moving average is $18.08 and its two-hundred day moving average is $16.96.

Orthofix Medical (NASDAQ:OFIX - Get Free Report) last released its quarterly earnings data on Thursday, November 7th. The medical device company reported ($0.71) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.14) by ($0.57). The business had revenue of $196.61 million during the quarter, compared to analyst estimates of $196.60 million. Orthofix Medical had a negative net margin of 15.18% and a negative return on equity of 21.25%. During the same period in the previous year, the business earned ($0.77) earnings per share. On average, research analysts expect that Orthofix Medical Inc. will post -2.81 EPS for the current fiscal year.

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.