Orthofix Medical Inc (NASDAQ:OFIX) was the target of a large decrease in short interest during the month of January. As of January 31st, there was short interest totalling 316,400 shares, a decrease of 14.9% from the January 15th total of 371,800 shares. Based on an average daily trading volume, of 146,900 shares, the days-to-cover ratio is presently 2.2 days. Approximately 1.7% of the company’s stock are short sold.
A number of large investors have recently made changes to their positions in the business. California State Teachers Retirement System grew its stake in Orthofix Medical by 1.2% in the 3rd quarter. California State Teachers Retirement System now owns 28,159 shares of the medical device company’s stock valued at $1,493,000 after purchasing an additional 336 shares during the period. Point72 Hong Kong Ltd grew its stake in Orthofix Medical by 246.0% in the 4th quarter. Point72 Hong Kong Ltd now owns 557 shares of the medical device company’s stock valued at $26,000 after purchasing an additional 396 shares during the period. Marshall Wace North America L.P. bought a new position in Orthofix Medical in the 1st quarter valued at $25,000. Principal Financial Group Inc. grew its stake in Orthofix Medical by 0.3% in the 4th quarter. Principal Financial Group Inc. now owns 150,544 shares of the medical device company’s stock valued at $6,952,000 after purchasing an additional 439 shares during the period. Finally, California Public Employees Retirement System grew its stake in Orthofix Medical by 1.2% in the 4th quarter. California Public Employees Retirement System now owns 42,113 shares of the medical device company’s stock valued at $1,945,000 after purchasing an additional 500 shares during the period. Hedge funds and other institutional investors own 94.56% of the company’s stock.
NASDAQ:OFIX traded up $0.16 during trading on Friday, reaching $43.86. The company’s stock had a trading volume of 117,220 shares, compared to its average volume of 95,662. The firm has a market cap of $832.70 million, a price-to-earnings ratio of -26.42, a price-to-earnings-growth ratio of 2.51 and a beta of 0.46. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.77 and a current ratio of 2.69. The firm has a 50 day moving average of $45.38 and a 200-day moving average of $48.17. Orthofix Medical has a 12 month low of $39.75 and a 12 month high of $74.44.
A number of research firms recently commented on OFIX. Cantor Fitzgerald lowered Orthofix Medical from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $71.00 to $48.00 in a research report on Tuesday, October 29th. BidaskClub lowered Orthofix Medical from a “sell” rating to a “strong sell” rating in a research report on Tuesday. Finally, Zacks Investment Research raised Orthofix Medical from a “strong sell” rating to a “hold” rating in a research report on Wednesday, January 1st. One analyst has rated the stock with a sell rating and four have given a hold rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $53.50.
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.
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