Truist Financial Forecasts Strong Price Appreciation for OrthoPediatrics (NASDAQ:KIDS) Stock

OrthoPediatrics (NASDAQ:KIDS) had its price objective increased by equities researchers at Truist Financial from $17.00 to $20.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “hold” rating on the stock. Truist Financial’s price objective would suggest a potential downside of 2.32% from the company’s current price.

KIDS has been the subject of several other research reports. Canaccord Genuity Group set a $25.00 price objective on shares of OrthoPediatrics in a research note on Friday, April 24th. Weiss Ratings restated a “sell (e+)” rating on shares of OrthoPediatrics in a report on Tuesday, April 21st. TD Cowen reaffirmed a “buy” rating on shares of OrthoPediatrics in a research note on Monday, June 15th. Finally, BTIG Research reiterated a “buy” rating and set a $24.00 price objective on shares of OrthoPediatrics in a report on Friday, May 1st. Nine research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, OrthoPediatrics presently has an average rating of “Moderate Buy” and a consensus target price of $24.78.

OrthoPediatrics Stock Up 3.8%

Shares of KIDS stock traded up $0.76 during trading hours on Thursday, hitting $20.48. 56,377 shares of the company’s stock traded hands, compared to its average volume of 158,305. The stock’s fifty day simple moving average is $18.57 and its two-hundred day simple moving average is $17.67. OrthoPediatrics has a 12-month low of $14.42 and a 12-month high of $23.70. The company has a quick ratio of 2.37, a current ratio of 5.21 and a debt-to-equity ratio of 0.29. The stock has a market cap of $525.80 million, a price-to-earnings ratio of -12.17 and a beta of 0.99.

OrthoPediatrics (NASDAQ:KIDS) last posted its earnings results on Thursday, April 30th. The company reported ($0.42) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.46) by $0.04. The company had revenue of $59.36 million for the quarter, compared to the consensus estimate of $58.28 million. OrthoPediatrics had a negative return on equity of 7.01% and a negative net margin of 16.31%. On average, analysts expect that OrthoPediatrics will post -1.13 EPS for the current year.

Institutional Investors Weigh In On OrthoPediatrics

Several institutional investors have recently made changes to their positions in the company. Millennium Management LLC increased its position in OrthoPediatrics by 48.0% during the 4th quarter. Millennium Management LLC now owns 1,396,495 shares of the company’s stock valued at $24,802,000 after purchasing an additional 452,840 shares during the period. Granahan Investment Management LLC increased its holdings in shares of OrthoPediatrics by 35.1% in the first quarter. Granahan Investment Management LLC now owns 896,741 shares of the company’s stock valued at $14,231,000 after purchasing an additional 232,760 shares during the period. Wasatch Advisors LP boosted its position in OrthoPediatrics by 56.6% in the second quarter. Wasatch Advisors LP now owns 515,677 shares of the company’s stock valued at $9,865,000 after buying an additional 186,357 shares during the last quarter. Deerfield Management Company L.P. boosted its holdings in OrthoPediatrics by 1,153.4% in the third quarter. Deerfield Management Company L.P. now owns 194,109 shares of the company’s stock valued at $3,597,000 after purchasing an additional 178,623 shares during the last quarter. Finally, Nantahala Capital Management LLC lifted its holdings in OrthoPediatrics by 303.3% in the fourth quarter. Nantahala Capital Management LLC now owns 199,449 shares of the company’s stock valued at $3,542,000 after acquiring an additional 150,000 shares during the period. Institutional investors own 69.05% of the company’s stock.

About OrthoPediatrics

OrthoPediatrics Corp., founded in 2007 and headquartered in Warsaw, Indiana, is a medical device company dedicated exclusively to providing orthopedic solutions for children. The company focuses on developing, manufacturing and marketing a broad portfolio of implants and instruments designed to address a wide range of pediatric conditions, including trauma, deformity correction, spine disorders and sports injuries.

The company’s product lines include locking plates and screws for upper and lower extremity reconstruction, intramedullary nails for femur and tibia stabilization, and specialized systems such as the MAGEC Magnetic Growth Rod for treatment of early-onset scoliosis.