Bank of New York Mellon Corp Has $1.91 Million Stock Position in Orthofix Medical Inc. (NASDAQ:OFIX)

Bank of New York Mellon Corp grew its position in Orthofix Medical Inc. (NASDAQ:OFIX) by 6.8% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 143,772 shares of the medical device company’s stock after buying an additional 9,118 shares during the period. Bank of New York Mellon Corp owned 0.38% of Orthofix Medical worth $1,906,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in OFIX. Engine Capital Management LP acquired a new stake in shares of Orthofix Medical in the 4th quarter valued at $40,916,000. Armistice Capital LLC lifted its holdings in shares of Orthofix Medical by 21.5% in the fourth quarter. Armistice Capital LLC now owns 3,600,000 shares of the medical device company’s stock valued at $48,528,000 after purchasing an additional 636,000 shares in the last quarter. Glenview Capital Management LLC bought a new stake in shares of Orthofix Medical in the fourth quarter valued at about $6,740,000. Boone Capital Management LLC bought a new stake in shares of Orthofix Medical in the fourth quarter valued at about $6,740,000. Finally, Rubric Capital Management LP lifted its holdings in shares of Orthofix Medical by 6.7% in the fourth quarter. Rubric Capital Management LP now owns 3,665,000 shares of the medical device company’s stock valued at $49,404,000 after purchasing an additional 230,335 shares in the last quarter. 89.76% of the stock is owned by institutional investors and hedge funds.

Orthofix Medical Stock Performance

OFIX opened at $16.22 on Wednesday. Orthofix Medical Inc. has a 52-week low of $9.57 and a 52-week high of $17.67. The firm has a market capitalization of $608.72 million, a PE ratio of -4.91 and a beta of 1.05. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.13 and a current ratio of 2.48. The business’s 50-day simple moving average is $16.35 and its 200 day simple moving average is $14.65.

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

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.