Global Strategic Investment Solutions LLC Sells 7,691 Shares of Orthofix Medical Inc. (NASDAQ:OFIX)

Global Strategic Investment Solutions LLC lowered its stake in Orthofix Medical Inc. (NASDAQ:OFIX) by 13.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 50,000 shares of the medical device company’s stock after selling 7,691 shares during the quarter. Global Strategic Investment Solutions LLC owned approximately 0.13% of Orthofix Medical worth $781,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in OFIX. nVerses Capital LLC purchased a new stake in shares of Orthofix Medical in the second quarter worth $27,000. Quest Partners LLC purchased a new stake in shares of Orthofix Medical in the 2nd quarter valued at about $64,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Orthofix Medical by 25.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,435 shares of the medical device company’s stock valued at $125,000 after acquiring an additional 1,919 shares during the last quarter. Arizona State Retirement System purchased a new position in shares of Orthofix Medical during the second quarter worth about $139,000. Finally, XTX Topco Ltd bought a new position in shares of Orthofix Medical in the second quarter worth approximately $175,000. Hedge funds and other institutional investors own 89.76% of the company’s stock.

Orthofix Medical Price Performance

OFIX stock traded up $0.55 during mid-day trading on Thursday, hitting $18.95. 80,538 shares of the stock were exchanged, compared to its average volume of 323,087. The stock has a market capitalization of $723.42 million, a price-to-earnings ratio of -5.77 and a beta of 1.05. The business has a fifty day moving average price of $16.18 and a 200 day moving average price of $15.20. 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 12 month low of $9.57 and a 12 month high of $19.47.

Orthofix Medical (NASDAQ:OFIX) last announced its quarterly earnings data on Tuesday, August 6th. The medical device company reported ($0.88) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $195.75 million. On average, sell-side analysts anticipate that Orthofix Medical Inc. will post -2.13 EPS for the current year.

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.