Orthofix Medical Inc. (NASDAQ:OFIX) Stake Boosted by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. grew its position in Orthofix Medical Inc. (NASDAQ:OFIX) by 60.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 55,472 shares of the medical device company’s stock after purchasing an additional 20,840 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Orthofix Medical were worth $969,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Inceptionr LLC purchased a new stake in shares of Orthofix Medical in the 4th quarter valued at approximately $279,000. Raymond James Financial Inc. acquired a new position in Orthofix Medical during the fourth quarter valued at $1,003,000. Victory Capital Management Inc. lifted its stake in Orthofix Medical by 2.9% in the 4th quarter. Victory Capital Management Inc. now owns 66,675 shares of the medical device company’s stock worth $1,164,000 after acquiring an additional 1,868 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Orthofix Medical by 4.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 339,531 shares of the medical device company’s stock worth $5,928,000 after acquiring an additional 14,724 shares during the period. Finally, Versor Investments LP purchased a new position in Orthofix Medical during the 4th quarter valued at about $499,000. 89.76% of the stock is owned by hedge funds and other institutional investors.

Orthofix Medical Price Performance

NASDAQ OFIX opened at $16.90 on Friday. The company has a quick ratio of 1.11, a current ratio of 2.39 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $659.47 million, a PE ratio of -5.40 and a beta of 1.06. The company has a 50 day moving average price of $17.78 and a two-hundred day moving average price of $17.37. Orthofix Medical Inc. has a 12-month low of $12.08 and a 12-month high of $20.73.

Insider Buying and Selling at Orthofix Medical

In other Orthofix Medical 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 $2,246,262.20. The trade was a 3.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Julie Andrews sold 4,655 shares of Orthofix Medical stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $17.89, for a total transaction of $83,277.95. Following the completion of the sale, the chief financial officer now owns 28,312 shares of the company’s stock, valued at $506,501.68. This trade represents a 14.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,999 shares of company stock worth $512,497 over the last ninety days. 2.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Canaccord Genuity Group reaffirmed a “buy” rating and set a $24.00 price objective on shares of Orthofix Medical in a research report on Wednesday, February 26th. StockNews.com raised shares of Orthofix Medical from a “hold” rating to a “buy” rating in a research report on Tuesday, February 25th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $22.00 price objective on shares of Orthofix Medical in a research report on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Orthofix Medical has a consensus rating of “Moderate Buy” and an average target price of $23.33.

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.