Connor Clark & Lunn Investment Management Ltd. Has $969,000 Stock Holdings in Orthofix Medical Inc. (NASDAQ:OFIX)

Connor Clark & Lunn Investment Management Ltd. lifted its stake in Orthofix Medical Inc. (NASDAQ:OFIX - Free Report) by 60.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 55,472 shares of the medical device company's stock after purchasing an additional 20,840 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.15% of Orthofix Medical worth $969,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in OFIX. GSA Capital Partners LLP purchased a new stake in Orthofix Medical in the 3rd quarter worth approximately $312,000. Victory Capital Management Inc. raised its holdings in shares of Orthofix Medical by 3.3% during the third quarter. Victory Capital Management Inc. now owns 64,807 shares of the medical device company's stock worth $1,012,000 after acquiring an additional 2,074 shares in the last quarter. Quest Partners LLC raised its holdings in shares of 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 acquiring an additional 9,063 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Orthofix Medical by 14.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 324,807 shares of the medical device company's stock valued at $5,073,000 after purchasing an additional 39,901 shares during the last quarter. Finally, Algert Global LLC grew its stake in Orthofix Medical by 25.6% in the third quarter. Algert Global LLC now owns 214,445 shares of the medical device company's stock valued at $3,350,000 after purchasing an additional 43,753 shares in the last quarter. 89.76% of the stock is currently owned by institutional investors and hedge funds.

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Orthofix Medical Price Performance

OFIX stock traded up $0.11 during trading on Monday, hitting $16.74. The company had a trading volume of 304,594 shares, compared to its average volume of 255,195. The company has a fifty day moving average price of $17.77 and a two-hundred day moving average price of $17.37. 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 $653.23 million, a P/E ratio of -5.35 and a beta of 1.06. The company has a current ratio of 2.39, a quick ratio of 1.11 and a debt-to-equity ratio of 0.25.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on OFIX shares. Canaccord Genuity Group reiterated a "buy" rating and set a $24.00 price target on shares of Orthofix Medical in a report on Wednesday, February 26th. Roth Mkm reiterated a "buy" rating and issued a $22.00 target price on shares of Orthofix Medical in a research note on Wednesday, February 26th. Finally, StockNews.com upgraded shares of Orthofix Medical from a "hold" rating to a "buy" rating in a research note on Tuesday, February 25th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $23.33.

Insider Transactions at Orthofix Medical

In related news, CEO Massimo Calafiore sold 10,078 shares of the firm's stock in a transaction on Friday, January 10th. The stock was sold at an average price of $16.83, for a total transaction of $169,612.74. Following the completion of the sale, the chief executive officer now directly owns 133,354 shares of the company's stock, valued at $2,244,347.82. This trade represents a 7.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Lucas Vitale sold 4,287 shares of Orthofix Medical stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $16.60, for a total value of $71,164.20. Following the completion of the transaction, the insider now owns 135,317 shares of the company's stock, valued at approximately $2,246,262.20. The trade was a 3.07 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,999 shares of company stock valued at $512,497. Corporate insiders own 2.60% of the company's stock.

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.