Quest Partners LLC Buys 9,063 Shares of Orthofix Medical Inc. (NASDAQ:OFIX)

Quest Partners LLC grew its stake in shares of Orthofix Medical Inc. (NASDAQ:OFIX) by 187.1% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 13,908 shares of the medical device company’s stock after buying an additional 9,063 shares during the quarter. Quest Partners LLC’s holdings in Orthofix Medical were worth $217,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of OFIX. nVerses Capital LLC bought a new stake in shares of Orthofix Medical during the second quarter worth $27,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Orthofix Medical by 25.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,435 shares of the medical device company’s stock worth $125,000 after buying an additional 1,919 shares during the last quarter. Arizona State Retirement System bought a new stake in shares of Orthofix Medical during the second quarter worth $139,000. XTX Topco Ltd bought a new stake in shares of Orthofix Medical during the second quarter worth $175,000. Finally, State Board of Administration of Florida Retirement System grew its stake in shares of Orthofix Medical by 34.7% during the first quarter. State Board of Administration of Florida Retirement System now owns 13,562 shares of the medical device company’s stock worth $197,000 after buying an additional 3,490 shares during the last quarter. Institutional investors own 89.76% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Orthofix Medical Price Performance

Shares of NASDAQ:OFIX opened at $19.13 on Thursday. The firm has a market cap of $730.96 million, a PE ratio of -6.11 and a beta of 1.05. The firm’s fifty day moving average is $16.74 and its 200-day moving average is $15.73. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.11 and a current ratio of 2.39. Orthofix Medical Inc. has a 52 week low of $10.28 and a 52 week high of $20.73.

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.