Emerald Mutual Fund Advisers Trust Reduces Holdings in Orthofix Medical Inc. (NASDAQ:OFIX)

Emerald Mutual Fund Advisers Trust reduced its stake in Orthofix Medical Inc. (NASDAQ:OFIX) by 5.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 372,149 shares of the medical device company’s stock after selling 22,513 shares during the period. Emerald Mutual Fund Advisers Trust owned about 0.97% of Orthofix Medical worth $5,813,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of OFIX. Armistice Capital LLC raised its holdings in Orthofix Medical by 1.4% during the 2nd quarter. Armistice Capital LLC now owns 3,750,000 shares of the medical device company’s stock valued at $49,725,000 after buying an additional 50,000 shares during the last quarter. Rubric Capital Management LP increased its position in shares of Orthofix Medical by 0.8% in the second quarter. Rubric Capital Management LP now owns 3,694,946 shares of the medical device company’s stock valued at $48,995,000 after acquiring an additional 29,946 shares during the period. Engine Capital Management LP raised its stake in shares of Orthofix Medical by 11.0% during the second quarter. Engine Capital Management LP now owns 3,368,665 shares of the medical device company’s stock valued at $44,668,000 after acquiring an additional 333,364 shares during the last quarter. Paradigm Capital Management Inc. NY boosted its holdings in shares of Orthofix Medical by 31.3% during the second quarter. Paradigm Capital Management Inc. NY now owns 2,556,100 shares of the medical device company’s stock worth $33,894,000 after purchasing an additional 609,137 shares during the period. Finally, Vanguard Group Inc. grew its stake in shares of Orthofix Medical by 0.5% in the first quarter. Vanguard Group Inc. now owns 2,008,816 shares of the medical device company’s stock worth $29,168,000 after purchasing an additional 9,150 shares during the last quarter. Institutional investors own 89.76% of the company’s stock.

Orthofix Medical Stock Up 4.8 %

Shares of NASDAQ:OFIX opened at $16.96 on Friday. The stock’s 50-day moving average is $16.15 and its 200 day moving average is $15.10. The company has a market cap of $647.45 million, a PE ratio of -5.32 and a beta of 1.05. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.48 and a quick ratio of 1.13. Orthofix Medical Inc. has a 1 year low of $9.57 and a 1 year high of $17.67.

Orthofix Medical (NASDAQ:OFIX) last posted its earnings results on Tuesday, August 6th. The medical device company reported ($0.88) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.30) by ($0.58). Orthofix Medical had a negative net margin of 15.61% and a negative return on equity of 20.68%. The business had revenue of $198.62 million for the quarter, compared to analysts’ expectations of $195.75 million. Sell-side analysts anticipate that Orthofix Medical Inc. will post -2.13 EPS for the current year.

About Orthofix Medical

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.