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

Teacher Retirement System of Texas raised its position in Orthofix Medical Inc. (NASDAQ:OFIX) by 90.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 135,009 shares of the medical device company’s stock after acquiring an additional 63,939 shares during the period. Teacher Retirement System of Texas’ holdings in Orthofix Medical were worth $2,357,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. HighVista Strategies LLC purchased a new position in Orthofix Medical during the 3rd quarter worth $1,689,000. JPMorgan Chase & Co. grew its stake in shares of Orthofix Medical by 480.7% during the third quarter. JPMorgan Chase & Co. now owns 84,379 shares of the medical device company’s stock worth $1,318,000 after acquiring an additional 69,848 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Orthofix Medical in the 4th quarter valued at approximately $1,003,000. HighTower Advisors LLC boosted its stake in Orthofix Medical by 114.9% in the 3rd quarter. HighTower Advisors LLC now owns 89,183 shares of the medical device company’s stock worth $1,393,000 after purchasing an additional 47,680 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Orthofix Medical by 14.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 324,807 shares of the medical device company’s stock worth $5,073,000 after purchasing an additional 39,901 shares in the last quarter. 89.76% of the stock is owned by hedge funds and other institutional investors.

Orthofix Medical Price Performance

NASDAQ:OFIX opened at $16.28 on Thursday. The firm’s fifty day moving average is $17.71 and its two-hundred day moving average is $17.37. The firm has a market cap of $635.28 million, a price-to-earnings ratio of -5.20 and a beta of 1.06. 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 one year low of $12.08 and a one year high of $20.73.

Insider Transactions at Orthofix Medical

In other Orthofix Medical news, CEO Massimo Calafiore sold 10,078 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $16.83, for a total value of $169,612.74. Following the sale, the chief executive officer now owns 133,354 shares in the company, valued at approximately $2,244,347.82. This represents a 7.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, 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 transaction of $71,164.20. Following the transaction, the insider now directly owns 135,317 shares of the company’s stock, valued at approximately $2,246,262.20. This trade represents a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,999 shares of company stock worth $512,497 over the last quarter. 2.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. 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 reiterated a “buy” rating and set a $24.00 price target on shares of Orthofix Medical in a research note on Wednesday, February 26th. Finally, Roth Mkm restated a “buy” rating and issued a $22.00 price objective 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 assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $23.33.

Orthofix Medical Company 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.