Magnetar Financial LLC Buys New Shares in Orthofix Medical Inc. (NASDAQ:OFIX)

Magnetar Financial LLC bought a new stake in Orthofix Medical Inc. (NASDAQ:OFIX) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 24,469 shares of the medical device company’s stock, valued at approximately $427,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank increased 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 valued at $156,000 after purchasing an additional 559 shares during the last quarter. Rhumbline Advisers increased its stake in Orthofix Medical by 1.2% in the fourth quarter. Rhumbline Advisers now owns 54,989 shares of the medical device company’s stock valued at $960,000 after purchasing an additional 661 shares during the last quarter. Swiss National Bank increased its stake in Orthofix Medical by 2.6% in the fourth quarter. Swiss National Bank now owns 67,600 shares of the medical device company’s stock valued at $1,180,000 after purchasing an additional 1,700 shares during the last quarter. Victory Capital Management Inc. increased its stake in Orthofix Medical by 2.9% in 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 during the last quarter. Finally, R Squared Ltd acquired a new position in Orthofix Medical in the fourth quarter valued at $50,000. 89.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Insider Activity

In other news, insider Lucas Vitale sold 4,287 shares of the stock in a transaction dated Tuesday, March 18th. The stock was 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 owns 135,317 shares in the company, valued at approximately $2,246,262.20. This trade represents a 3.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Massimo Calafiore sold 9,203 shares of the stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $17.14, for a total value of $157,739.42. Following the completion of the sale, the chief executive officer now owns 124,151 shares of the company’s stock, valued at approximately $2,127,948.14. This trade represents a 6.90 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,999 shares of company stock worth $512,497. 2.60% of the stock is currently owned by corporate insiders.

Orthofix Medical Price Performance

OFIX stock opened at $16.63 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.11 and a current ratio of 2.39. Orthofix Medical Inc. has a 1 year low of $12.08 and a 1 year high of $20.73. The firm has a market cap of $648.94 million, a P/E ratio of -5.31 and a beta of 1.06. The stock has a 50-day simple moving average of $17.77 and a 200-day simple moving average of $17.37.

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.