Armistice Capital LLC, a prominent investment firm, has recently increased its stake in Orthofix Medical Inc. to 50,000 shares. This move signifies the firm’s growing confidence in the medical device company, as disclosed in its most recent 13F filing with the Securities & Exchange Commission.
The decision to boost its stake by 1.4% during the second quarter demonstrates Armistice Capital LLC’s commitment to Orthofix Medical’s potential for growth and success in the market. With a total of 3,750,000 shares now under its ownership, the firm has solidified its position as a significant investor in the company. Orthofix Medical accounts for approximately 0.6% of Armistice Capital LLC’s holdings, making it the 22nd largest position in its portfolio.
As of the most recent filing with the Securities & Exchange Commission, Armistice Capital LLC’s stake in Orthofix Medical is valued at $49,725,000. This substantial investment reflects the firm’s belief in the long-term prospects of the medical device company and its ability to deliver value to shareholders.
In addition to Armistice Capital LLC’s increased stake, several other large investors have also made adjustments to their holdings of Orthofix Medical stock. nVerses Capital LLC, Quest Partners LLC, Zurcher Kantonalbank Zurich Cantonalbank, Arizona State Retirement System, and XTX Topco Ltd are among the institutions that have recently acquired positions in the company.
These investments highlight the growing interest in Orthofix Medical and its potential for future growth and profitability. With a significant portion of the company’s stock now owned by hedge funds and institutional investors, Orthofix Medical is poised for continued success in the medical device industry.
### Orthofix Medical Stock Performance
Despite the positive developments in terms of investor interest, Orthofix Medical stock experienced a slight decline of 0.1% during recent trading sessions. The stock traded at $15.38, with 154,388 shares changing hands compared to the average volume of 339,896 shares.
Orthofix Medical Inc. has shown resilience in the market, with a twelve-month low of $9.57 and a high of $17.67. The stock’s 50-day simple moving average is $16.40, while the 200-day simple moving average stands at $14.76. The company has a market capitalization of $587.05 million, a PE ratio of -4.54, and a beta of 1.05.
Despite the recent fluctuations in the stock price, Orthofix Medical remains a strong player in the medical device industry, with a focus on spine and orthopedic products. The company’s commitment to innovation and quality has positioned it as a leader in the market, attracting the attention of both investors and analysts.
### Orthofix Medical’s Financial Performance
In its most recent quarterly earnings report, Orthofix Medical reported an EPS of ($0.88), falling short of analysts’ consensus estimates of ($0.30) by a significant margin. The company also recorded a negative return on equity of 20.68% and a negative net margin of 15.61%.
Despite these challenges, Orthofix Medical generated revenue of $198.62 million for the quarter, surpassing the consensus estimate of $195.75 million. Analysts anticipate that the company will post earnings per share of -2.13 for the current fiscal year, reflecting the company’s resilience in the face of market pressures.
Orthofix Medical operates through two segments, Global Spine and Global Orthopedics, offering a range of products and services in the spine and orthopedic market. The company’s diverse portfolio includes bone growth stimulator devices, motion preservation and fixation implant products, and biological products for various spinal and orthopedic conditions.
### Investment Opportunities in Orthofix Medical
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In conclusion, Armistice Capital LLC’s increased stake in Orthofix Medical reflects a growing confidence in the company’s potential for growth and success in the medical device industry. Despite recent fluctuations in the stock price, Orthofix Medical remains a strong player in the market, with a focus on innovation and quality. Investors and analysts alike are closely monitoring the company’s performance and positioning themselves for future opportunities in the evolving market landscape.
