Teacher Retirement System of Texas Grows Position in Orthofix Medical Inc. (NASDAQ:OFIX)

Teacher Retirement System of Texas grew its holdings in Orthofix Medical Inc. (NASDAQ:OFIX - Free Report) by 90.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 135,009 shares of the medical device company's stock after purchasing an additional 63,939 shares during the quarter. Teacher Retirement System of Texas owned approximately 0.35% of Orthofix Medical worth $2,357,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of OFIX. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Orthofix Medical by 5.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,994 shares of the medical device company's stock worth $156,000 after buying an additional 559 shares in the last quarter. Rhumbline Advisers increased its holdings in shares of Orthofix Medical by 1.2% in the 4th quarter. Rhumbline Advisers now owns 54,989 shares of the medical device company's stock valued at $960,000 after acquiring an additional 661 shares during the period. Swiss National Bank lifted its stake in shares of Orthofix Medical by 2.6% during the 4th quarter. Swiss National Bank now owns 67,600 shares of the medical device company's stock worth $1,180,000 after purchasing an additional 1,700 shares during the last quarter. Victory Capital Management Inc. boosted its position in Orthofix Medical by 2.9% during the fourth quarter. Victory Capital Management Inc. now owns 66,675 shares of the medical device company's stock valued at $1,164,000 after purchasing an additional 1,868 shares in the last quarter. Finally, R Squared Ltd purchased a new position in Orthofix Medical in the fourth quarter valued at about $50,000. Hedge funds and other institutional investors own 89.76% of the company's stock.

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Insider Buying and Selling

In other news, CFO Julie Andrews sold 4,655 shares of the business's stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $17.89, for a total transaction 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. The trade was a 14.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Lucas Vitale sold 4,287 shares of the firm's stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $16.60, for a total transaction of $71,164.20. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,999 shares of company stock worth $512,497. 2.60% of the stock is owned by insiders.

Orthofix Medical Price Performance

OFIX traded down $0.10 on Friday, hitting $16.06. 150,950 shares of the company's stock were exchanged, compared to its average volume of 258,356. Orthofix Medical Inc. has a fifty-two week low of $12.08 and a fifty-two week high of $20.73. The stock has a market cap of $626.69 million, a price-to-earnings ratio of -5.13 and a beta of 1.06. The firm has a 50-day moving average price of $17.63 and a 200-day moving average price of $17.37. 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 Analysts Forecast Growth

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

Orthofix Medical 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.