Millennium Management LLC Sells 40,927 Shares of Orthofix Medical Inc. (NASDAQ:OFIX)

Millennium Management LLC lessened its stake in shares of Orthofix Medical Inc. (NASDAQ:OFIX) by 9.4% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 392,821 shares of the medical device company’s stock after selling 40,927 shares during the quarter. Millennium Management LLC owned about 1.05% of Orthofix Medical worth $5,209,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the business. AQR Capital Management LLC lifted its position in shares of Orthofix Medical by 4.4% during the 2nd quarter. AQR Capital Management LLC now owns 31,863 shares of the medical device company’s stock worth $423,000 after purchasing an additional 1,336 shares during the last quarter. Armistice Capital LLC lifted its position in shares of Orthofix Medical by 1.4% during the 2nd quarter. Armistice Capital LLC now owns 3,750,000 shares of the medical device company’s stock worth $49,725,000 after purchasing an additional 50,000 shares during the last quarter. AYAL Capital Advisors Ltd lifted its position in shares of Orthofix Medical by 10.2% during the 2nd quarter. AYAL Capital Advisors Ltd now owns 686,794 shares of the medical device company’s stock worth $9,107,000 after purchasing an additional 63,697 shares during the last quarter. Squarepoint Ops LLC acquired a new position in shares of Orthofix Medical during the 2nd quarter worth about $405,000. Finally, Engine Capital Management LP lifted its position in shares of Orthofix Medical by 11.0% during the 2nd quarter. Engine Capital Management LP now owns 3,368,665 shares of the medical device company’s stock worth $44,668,000 after purchasing an additional 333,364 shares during the last quarter. Institutional investors and hedge funds own 89.76% of the company’s stock.

Orthofix Medical Price Performance

NASDAQ OFIX opened at $15.58 on Friday. Orthofix Medical Inc. has a twelve month low of $9.57 and a twelve month high of $17.67. 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 stock has a market capitalization of $594.69 million, a PE ratio of -4.88 and a beta of 1.05. The stock has a 50-day simple moving average of $16.22 and a 200 day simple moving average of $14.87.

Orthofix Medical (NASDAQ:OFIX) last posted its quarterly earnings results on Tuesday, August 6th. The medical device company reported ($0.88) EPS for the quarter, missing the consensus estimate of ($0.30) by ($0.58). The firm had revenue of $198.62 million during the quarter, compared to analyst estimates of $195.75 million. Orthofix Medical had a negative net margin of 15.61% and a negative return on equity of 20.68%. Research analysts anticipate that Orthofix Medical Inc. will post -2.13 EPS for the current 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.