Synovus Financial Corp Acquires 711 Shares of Orthofix Medical Inc. (NASDAQ:OFIX)

Synovus Financial Corp grew its holdings in Orthofix Medical Inc. (NASDAQ:OFIX) by 4.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,738 shares of the medical device company’s stock after acquiring an additional 711 shares during the period. Synovus Financial Corp owned 0.09% of Orthofix Medical worth $730,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of OFIX. Norges Bank bought a new stake in Orthofix Medical in the fourth quarter worth approximately $12,155,000. BlackRock Inc. boosted its holdings in shares of Orthofix Medical by 5.6% during the 1st quarter. BlackRock Inc. now owns 3,261,145 shares of the medical device company’s stock worth $141,371,000 after buying an additional 172,290 shares during the period. Royce & Associates LP boosted its holdings in shares of Orthofix Medical by 42.7% during the 1st quarter. Royce & Associates LP now owns 573,671 shares of the medical device company’s stock worth $24,869,000 after buying an additional 171,618 shares during the period. Victory Capital Management Inc. bought a new stake in shares of Orthofix Medical during the 1st quarter worth $5,110,000. Finally, Heartland Advisors Inc. bought a new stake in shares of Orthofix Medical during the 4th quarter worth $4,298,000.

Separately, Zacks Investment Research downgraded shares of Orthofix Medical from a “hold” rating to a “sell” rating in a report on Thursday, April 29th.

NASDAQ OFIX opened at $42.22 on Friday. The company has a current ratio of 2.66, a quick ratio of 1.81 and a debt-to-equity ratio of 0.06. The business’s fifty day moving average price is $42.50. The company has a market cap of $825.78 million, a P/E ratio of -28.15, a P/E/G ratio of 33.88 and a beta of 1.15. Orthofix Medical Inc. has a 1 year low of $28.03 and a 1 year high of $48.50.

Orthofix Medical (NASDAQ:OFIX) last released its earnings results on Friday, April 30th. The medical device company reported $0.17 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.07 by $0.10. The firm had revenue of $105.59 million during the quarter, compared to analysts’ expectations of $95.40 million. Orthofix Medical had a negative net margin of 7.11% and a positive return on equity of 1.93%. As a group, sell-side analysts anticipate that Orthofix Medical Inc. will post 0.55 earnings per share for the current fiscal year.

Orthofix Medical Company Profile

Orthofix Medical Inc operates as a medical device and biologics company in the United States, Italy, Germany, the United Kingdom, Brazil, and internationally. It operates through two segments, Global Spine and Global Extremities. The Global Spine segment manufactures, distributes, and provides support services for bone growth stimulator devices that enhance bone fusion, as well as used as a therapeutic treatment for non-spinal and appendicular fractures.

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Institutional Ownership by Quarter for Orthofix Medical (NASDAQ:OFIX)

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