HighVista Strategies LLC Buys New Holdings in Orthofix Medical Inc. (NASDAQ:OFIX)

HighVista Strategies LLC acquired a new stake in Orthofix Medical Inc. (NASDAQ:OFIX) during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 108,100 shares of the medical device company’s stock, valued at approximately $1,689,000.

A number of other large investors also recently modified their holdings of OFIX. Paradigm Capital Management Inc. NY increased its holdings in Orthofix Medical by 31.3% in the second quarter. Paradigm Capital Management Inc. NY now owns 2,556,100 shares of the medical device company’s stock valued at $33,894,000 after buying an additional 609,137 shares during the last quarter. Engine Capital Management LP raised its position in shares of Orthofix Medical by 11.0% during the 2nd quarter. Engine Capital Management LP now owns 3,368,665 shares of the medical device company’s stock worth $44,668,000 after acquiring an additional 333,364 shares in the last quarter. Marshall Wace LLP purchased a new stake in Orthofix Medical during the second quarter worth approximately $2,193,000. AYAL Capital Advisors Ltd boosted its holdings in Orthofix Medical by 10.2% in the second quarter. AYAL Capital Advisors Ltd now owns 686,794 shares of the medical device company’s stock valued at $9,107,000 after purchasing an additional 63,697 shares in the last quarter. Finally, Victory Capital Management Inc. purchased a new stake in shares of Orthofix Medical during the 2nd quarter worth approximately $832,000. 89.76% of the stock is owned by hedge funds and other institutional investors.

Orthofix Medical Price Performance

NASDAQ OFIX opened at $19.31 on Tuesday. The firm’s fifty day moving average is $16.92 and its two-hundred day moving average is $15.82. Orthofix Medical Inc. has a one year low of $10.28 and a one year high of $20.73. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.11 and a current ratio of 2.39.

Analyst Ratings Changes

OFIX has been the topic of several research analyst reports. Roth Mkm reiterated a “buy” rating and set a $22.00 price target (up from $20.00) on shares of Orthofix Medical in a research note on Friday, November 8th. Stifel Nicolaus raised Orthofix Medical from a “hold” rating to a “buy” rating and upped their target price for the company from $18.00 to $24.00 in a research report on Friday, November 8th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Orthofix Medical has a consensus rating of “Moderate Buy” and a consensus price target of $23.00.

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.