OrthoPediatrics (NASDAQ:KIDS) Reaches New 1-Year High – Here’s What Happened

OrthoPediatrics Corp. (NASDAQ:KIDS) shares hit a new 52-week high on Wednesday. The stock traded as high as $33.03 and last traded at $32.9810, with a volume of 37,104 shares traded. The stock had previously closed at $30.43.

Analyst Upgrades and Downgrades

KIDS has been the topic of a number of recent research reports. Truist Financial raised their price objective on OrthoPediatrics from $22.00 to $28.00 and gave the company a “hold” rating in a research report on Wednesday, October 28th. Canaccord Genuity Group boosted their target price on shares of OrthoPediatrics from $28.00 to $30.00 and gave the stock a “buy” rating in a report on Wednesday, October 28th. Lake Street Capital increased their price target on shares of OrthoPediatrics from $34.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, October 28th. TD Cowen raised their price target on shares of OrthoPediatrics from $23.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, October 28th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of OrthoPediatrics in a research report on Tuesday. Seven equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, OrthoPediatrics presently has a consensus rating of “Moderate Buy” and an average target price of $30.75.

OrthoPediatrics Stock Performance

The stock has a market capitalization of $877.09 million, a price-to-earnings ratio of -23.57 and a beta of 0.90. The company has a current ratio of 4.55, a quick ratio of 2.00 and a debt-to-equity ratio of 0.29. The firm has a 50-day moving average of $23.55 and a 200-day moving average of $19.71.

OrthoPediatrics (NASDAQ:KIDS) last issued its quarterly earnings results on Tuesday, October 27th. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.02). The firm had revenue of $72.66 million for the quarter, compared to analyst estimates of $68.50 million. OrthoPediatrics had a negative return on equity of 8.10% and a negative net margin of 12.83%. As a group, sell-side analysts predict that OrthoPediatrics Corp. will post -1.09 earnings per share for the current year.

Insider Transactions at OrthoPediatrics

In related news, major shareholder Jennifer Pritzker sold 326,700 shares of the stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $23.04, for a total value of $7,527,168.00. Following the transaction, the insider owned 6,536,764 shares in the company, valued at approximately $150,607,042.56. This represents a 4.76% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David Pelizzon sold 326,700 shares of the stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $23.04, for a total transaction of $7,527,168.00. Following the completion of the transaction, the director owned 6,536,764 shares in the company, valued at approximately $150,607,042.56. This trade represents a 4.76% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 2,100,000 shares of company stock worth $46,747,931 over the last three months. 32.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new stake in OrthoPediatrics in the 2nd quarter worth approximately $24,347,000. AIGH Capital Management LLC grew its stake in shares of OrthoPediatrics by 334.4% during the 3rd quarter. AIGH Capital Management LLC now owns 1,171,765 shares of the company’s stock worth $26,095,000 after purchasing an additional 902,000 shares during the period. Nantahala Capital Management LLC acquired a new stake in shares of OrthoPediatrics during the 2nd quarter worth approximately $4,636,002. AWM Investment Company Inc. purchased a new position in shares of OrthoPediatrics during the 2nd quarter valued at approximately $4,537,000. Finally, Granahan Investment Management LLC increased its holdings in shares of OrthoPediatrics by 35.1% during the 1st 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 in the last quarter. 69.05% of the stock is currently owned by institutional investors and hedge funds.

OrthoPediatrics Company Profile

OrthoPediatrics Corp. is a medical device company focused exclusively on developing and commercializing orthopedic products for children. The company designs implants, instruments and related technologies intended to address the distinct anatomical and clinical needs of pediatric patients, including those with congenital conditions, traumatic injuries and musculoskeletal disorders.

Its product portfolio covers pediatric trauma and deformity correction, scoliosis, limb reconstruction, sports medicine and other specialized orthopedic procedures.