Raymond James Financial Inc. Makes New $1 Million Investment in Orthofix Medical Inc. (NASDAQ:OFIX)

Raymond James Financial Inc. purchased a new position in shares of Orthofix Medical Inc. (NASDAQ:OFIX - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 57,424 shares of the medical device company's stock, valued at approximately $1,003,000. Raymond James Financial Inc. owned 0.15% of Orthofix Medical as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the business. Franklin Resources Inc. boosted its stake in shares of Orthofix Medical by 37.4% during the 3rd quarter. Franklin Resources Inc. now owns 20,960 shares of the medical device company's stock worth $337,000 after acquiring an additional 5,702 shares during the period. 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 worth $5,073,000 after purchasing an additional 39,901 shares during the period. Barclays PLC increased its holdings in shares of Orthofix Medical by 38.8% in the third quarter. Barclays PLC now owns 122,472 shares of the medical device company's stock valued at $1,912,000 after purchasing an additional 34,210 shares during the last quarter. HighTower Advisors LLC increased its holdings in shares of Orthofix Medical by 114.9% in the third quarter. HighTower Advisors LLC now owns 89,183 shares of the medical device company's stock valued at $1,393,000 after purchasing an additional 47,680 shares during the last quarter. Finally, Kirr Marbach & Co. LLC IN bought a new position in shares of Orthofix Medical in the fourth quarter valued at about $532,000. Institutional investors and hedge funds own 89.76% of the company's stock.

Insider Buying and Selling

In other news, insider Lucas Vitale sold 4,287 shares of the company's stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $16.60, for a total transaction of $71,164.20. Following the transaction, the insider now owns 135,317 shares in the company, valued at approximately $2,246,262.20. This represents a 3.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Massimo Calafiore sold 10,078 shares of the company's stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $16.83, for a total value of $169,612.74. Following the transaction, the chief executive officer now directly owns 133,354 shares in the company, valued at approximately $2,244,347.82. This trade represents a 7.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,837 shares of company stock valued at $509,614 over the last 90 days. Company insiders own 2.60% of the company's stock.

Analyst Ratings Changes

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

Orthofix Medical Trading Down 2.8 %

Orthofix Medical stock traded down $0.40 during trading hours on Tuesday, reaching $13.96. 319,343 shares of the company's stock were exchanged, compared to its average volume of 259,540. The firm's 50 day simple moving average is $17.11 and its 200 day simple moving average is $17.28. Orthofix Medical Inc. has a twelve month low of $12.08 and a twelve 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 $544.75 million, a PE ratio of -4.46 and a beta of 0.99.

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.