Great West Life Assurance Co. Can raised its position in Orthofix Medical Inc (NASDAQ:OFIX) by 5.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,347 shares of the medical device company’s stock after buying an additional 1,300 shares during the quarter. Great West Life Assurance Co. Can’s holdings in Orthofix Medical were worth $1,427,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. PNC Financial Services Group Inc. raised its stake in shares of Orthofix Medical by 40.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 598 shares of the medical device company’s stock valued at $31,000 after purchasing an additional 172 shares during the period. Financial Gravity Companies Inc. bought a new stake in shares of Orthofix Medical during the 4th quarter valued at $43,000. Exane Derivatives raised its stake in shares of Orthofix Medical by 92.9% during the 1st quarter. Exane Derivatives now owns 1,395 shares of the medical device company’s stock valued at $79,000 after purchasing an additional 672 shares during the period. Everence Capital Management Inc. bought a new stake in shares of Orthofix Medical during the 1st quarter valued at $206,000. Finally, BNP Paribas Arbitrage SA raised its stake in shares of Orthofix Medical by 185.5% during the 1st quarter. BNP Paribas Arbitrage SA now owns 4,576 shares of the medical device company’s stock valued at $258,000 after purchasing an additional 2,973 shares during the period. Hedge funds and other institutional investors own 94.39% of the company’s stock.
In other news, CEO Brad Mason sold 10,668 shares of the company’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $53.71, for a total value of $572,978.28. Following the completion of the transaction, the chief executive officer now directly owns 165,120 shares in the company, valued at approximately $8,868,595.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 5.60% of the stock is currently owned by corporate insiders.
Orthofix Medical (NASDAQ:OFIX) last announced its earnings results on Monday, May 6th. The medical device company reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.13). The business had revenue of $109.10 million during the quarter, compared to the consensus estimate of $110.59 million. Orthofix Medical had a return on equity of 10.45% and a net margin of 2.09%. Orthofix Medical’s revenue was up .4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.39 earnings per share. As a group, research analysts anticipate that Orthofix Medical Inc will post 1.77 EPS for the current fiscal year.
OFIX has been the topic of a number of research analyst reports. BidaskClub lowered Orthofix Medical from a “buy” rating to a “hold” rating in a research note on Monday, May 20th. Zacks Investment Research upgraded Orthofix Medical from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a research note on Saturday, May 18th. ValuEngine lowered Orthofix Medical from a “buy” rating to a “hold” rating in a research note on Saturday, May 18th. Finally, TheStreet lowered Orthofix Medical from a “b+” rating to a “c+” rating in a research note on Thursday, May 9th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $60.00.
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About Orthofix Medical
Orthofix Medical Inc, a medical device company, provides musculoskeletal healing products and therapies worldwide. It operates through four segments: Bone Growth Therapies, Spinal Implants, Biologics, and Orthofix Extremities. The Bone Growth Therapies segment manufactures, distributes, and provides support services for bone growth stimulator devices that enhance bone fusion and are indicated as treatment to enhance fusion success rates in cervical and lumbar spine, as well as a therapeutic treatment for non-spinal appendicular fractures.
Further Reading: Return On Assets
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