Written by Laura Dyrda
Camber Capital Management surged its exposure to Orthofix in the middle of the company’s ongoing efforts to correct financial reports over the past few years and release accurate 2013 reports, according to an Insider Monkey report.
The company discovered a glitch in how they calculated revenue adjustments and reported inventory. Originally scheduled to release their data on Oct. 2, the company is expected to ask for a second extension.
Here are five things to know:
1. Fund manager Stephen Dubois owns around 1.2 million Orthofix shares, significantly more than the 118,700 disclosed in the most recent 13F filings. Camber’s stake amasses 6.5 percent of Orthofix’s common stock.
2. Orthofix may still be a good investment, according to the report, as the orthopedic market is expected to reach around $4 billion over the next few years. Growth rates are 3 percent. The medical devices industry grew 7 percent year-to-date.