Trexquant Investment LP Purchases 23,912 Shares of Orthofix Medical Inc. (NASDAQ:OFIX)

Trexquant Investment LP boosted its holdings in shares of Orthofix Medical Inc. (NASDAQ:OFIX - Free Report) by 75.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,680 shares of the medical device company's stock after buying an additional 23,912 shares during the period. Trexquant Investment LP owned about 0.15% of Orthofix Medical worth $972,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the business. R Squared Ltd acquired a new stake in Orthofix Medical during the fourth quarter valued at approximately $50,000. KLP Kapitalforvaltning AS bought a new stake in shares of Orthofix Medical during the fourth quarter valued at approximately $112,000. Inceptionr LLC bought a new position in Orthofix Medical in the 4th quarter worth approximately $279,000. Fox Run Management L.L.C. acquired a new position in Orthofix Medical in the fourth quarter valued at approximately $327,000. Finally, Franklin Resources Inc. lifted its stake in shares of Orthofix Medical by 37.4% in the 3rd quarter. Franklin Resources Inc. now owns 20,960 shares of the medical device company's stock valued at $337,000 after purchasing an additional 5,702 shares during the period. 89.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Insider Activity

In other news, insider Lucas Vitale sold 4,287 shares of Orthofix Medical stock in a transaction that occurred 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 sale, the insider now directly owns 135,317 shares in the company, valued at approximately $2,246,262.20. The trade was a 3.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Julie Andrews sold 4,655 shares of the stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $17.89, for a total transaction of $83,277.95. Following the sale, the chief financial officer now owns 28,312 shares in the company, valued at $506,501.68. This represents a 14.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 10,081 shares of company stock valued at $174,197 over the last three months. Insiders own 2.60% of the company's stock.

Orthofix Medical Stock Performance

Shares of OFIX traded down $0.05 during midday trading on Wednesday, reaching $13.37. The stock had a trading volume of 28,242 shares, compared to its average volume of 259,317. The company has a current ratio of 2.39, a quick ratio of 1.11 and a debt-to-equity ratio of 0.25. The firm has a 50 day simple moving average of $16.56 and a 200-day simple moving average of $17.21. The firm has a market cap of $521.53 million, a PE ratio of -4.26 and a beta of 0.99. Orthofix Medical Inc. has a one year low of $10.50 and a one year high of $20.73.

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.