Barclays PLC Acquires 34,210 Shares of Orthofix Medical Inc. (NASDAQ:OFIX)

Barclays PLC grew its holdings in Orthofix Medical Inc. (NASDAQ:OFIX) by 38.8% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 122,472 shares of the medical device company’s stock after buying an additional 34,210 shares during the quarter. Barclays PLC’s holdings in Orthofix Medical were worth $1,912,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. nVerses Capital LLC bought a new stake in Orthofix Medical during the 2nd quarter valued at $27,000. Quest Partners LLC purchased a new position in shares of Orthofix Medical in the second quarter valued at $64,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake 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 purchasing an additional 1,919 shares during the period. Arizona State Retirement System bought a new stake in shares of Orthofix Medical during the 2nd quarter valued at $139,000. Finally, XTX Topco Ltd purchased a new stake in Orthofix Medical during the 2nd quarter worth about $175,000. 89.76% of the stock is currently owned by hedge funds and other institutional investors.

Orthofix Medical Price Performance

Shares of NASDAQ OFIX opened at $17.83 on Friday. The stock’s 50-day simple moving average is $17.92 and its two-hundred day simple moving average is $16.29. Orthofix Medical Inc. has a twelve month low of $12.08 and a twelve month high of $20.73. The firm has a market capitalization of $681.36 million, a P/E ratio of -5.70 and a beta of 1.09. The company has a quick ratio of 1.11, a current ratio of 2.39 and a debt-to-equity ratio of 0.25.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Stifel Nicolaus upgraded Orthofix Medical from a “hold” rating to a “buy” rating and upped their price target for the company from $18.00 to $24.00 in a research report on Friday, November 8th. Roth Mkm reaffirmed a “buy” rating and set a $22.00 target price (up previously from $20.00) on shares of Orthofix Medical in a report on Friday, November 8th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $23.00.

Orthofix Medical Company 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.