Mutual of America Capital Management LLC Decreases Stock Holdings in Orthofix Medical Inc. (NASDAQ:OFIX)

Mutual of America Capital Management LLC lowered its holdings in Orthofix Medical Inc. (NASDAQ:OFIX) by 2.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 170,312 shares of the medical device company’s stock after selling 3,837 shares during the period. Mutual of America Capital Management LLC owned approximately 0.45% of Orthofix Medical worth $2,660,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in OFIX. nVerses Capital LLC acquired a new stake in Orthofix Medical in the 2nd quarter valued at $27,000. Quest Partners LLC acquired a new stake in shares of Orthofix Medical in the second quarter valued at about $64,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings 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 buying an additional 1,919 shares during the period. Arizona State Retirement System purchased a new stake in shares of Orthofix Medical during the 2nd quarter valued at about $139,000. Finally, XTX Topco Ltd acquired a new position in Orthofix Medical during the 2nd quarter worth approximately $175,000. Institutional investors and hedge funds own 89.76% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Roth Mkm reaffirmed a “buy” rating and issued a $22.00 price objective (up previously from $20.00) on shares of Orthofix Medical in a research report on Friday, November 8th. Stifel Nicolaus raised shares of Orthofix Medical from a “hold” rating to a “buy” rating and lifted their price target for the stock from $18.00 to $24.00 in a research note on Friday, November 8th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $23.00.

Orthofix Medical Price Performance

OFIX stock opened at $18.91 on Friday. The stock’s 50 day moving average is $16.63 and its two-hundred day moving average is $15.66. Orthofix Medical Inc. has a 52-week low of $10.28 and a 52-week high of $20.73. The company has a market capitalization of $722.63 million, a PE ratio of -6.04 and a beta of 1.05. The company has a quick ratio of 1.11, a current ratio of 2.39 and a debt-to-equity ratio of 0.25.

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.