Truist Financial Upgrades OrthoPediatrics (NASDAQ:KIDS) to “Hold”

OrthoPediatrics (NASDAQ:KIDS) was upgraded by equities researchers at Truist Financial to a “hold” rating in a report issued on Thursday, Zacks reports.

Other research analysts also recently issued reports about the stock. Weiss Ratings upgraded shares of OrthoPediatrics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, August 5th. BTIG Research reissued a “buy” rating and issued a $29.00 target price on shares of OrthoPediatrics in a research report on Monday, September 14th. TD Cowen restated a “buy” rating on shares of OrthoPediatrics in a research note on Monday, June 15th. Needham & Company LLC lifted their price target on OrthoPediatrics from $30.00 to $35.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Finally, Piper Sandler reissued an “overweight” rating and issued a $25.00 price objective (up from $22.00) on shares of OrthoPediatrics in a report on Wednesday, August 5th. Nine equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, OrthoPediatrics has an average rating of “Moderate Buy” and an average target price of $26.44.

OrthoPediatrics Stock Performance

Shares of KIDS opened at $21.69 on Thursday. The business’s 50 day moving average is $22.76 and its two-hundred day moving average is $19.50. OrthoPediatrics has a 52-week low of $14.42 and a 52-week high of $26.74. The firm has a market cap of $566.33 million, a price-to-earnings ratio of -12.91 and a beta of 0.99. The company has a quick ratio of 2.17, a current ratio of 4.78 and a debt-to-equity ratio of 0.28.

OrthoPediatrics (NASDAQ:KIDS) last released its earnings results on Tuesday, August 4th. The company reported ($0.26) EPS for the quarter, beating the consensus estimate of ($0.30) by $0.04. OrthoPediatrics had a negative return on equity of 8.10% and a negative net margin of 15.72%.The company had revenue of $70.51 million during the quarter, compared to analysts’ expectations of $68.21 million. Analysts forecast that OrthoPediatrics will post -1.14 EPS for the current fiscal year.

Insider Activity at OrthoPediatrics

In other OrthoPediatrics news, major shareholder Jennifer N. Pritzker sold 302,369 shares of the company’s stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $21.01, for a total value of $6,352,772.69. Following the transaction, the insider owned 6,201,764 shares of the company’s stock, valued at approximately $130,299,061.64. This represents a 4.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David R. Pelizzon sold 302,369 shares of the stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $21.01, for a total value of $6,352,772.69. Following the sale, the director owned 6,201,764 shares of the company’s stock, valued at $130,299,061.64. This trade represents a 4.65% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 2,100,000 shares of company stock valued at $46,747,931 over the last ninety days. Insiders own 32.50% of the company’s stock.

Institutional Investors Weigh In On OrthoPediatrics

Institutional investors and hedge funds have recently modified their holdings of the stock. Squarepoint Ops LLC raised its stake in OrthoPediatrics by 95.0% during the 2nd quarter. Squarepoint Ops LLC now owns 195,468 shares of the company’s stock valued at $3,739,000 after purchasing an additional 95,230 shares during the period. Waverly Advisors LLC boosted its holdings in shares of OrthoPediatrics by 6.7% during the second quarter. Waverly Advisors LLC now owns 12,366 shares of the company’s stock worth $237,000 after purchasing an additional 775 shares during the period. Nantahala Capital Management LLC purchased a new position in OrthoPediatrics during the second quarter valued at approximately $4,636,002. Grandeur Peak Global Advisors LLC purchased a new position in OrthoPediatrics during the second quarter valued at approximately $954,000. Finally, Bank of America Corp DE acquired a new position in OrthoPediatrics in the 2nd quarter valued at approximately $268,000. 69.05% of the stock is owned by institutional investors and hedge funds.

About OrthoPediatrics

OrthoPediatrics Corp. (NASDAQ: KIDS) develops, manufactures and sells orthopedic products designed specifically for children. The company focuses on addressing the distinct anatomical and clinical needs of pediatric patients, offering implants, instruments and related technologies for orthopedic surgery.

Its product portfolio includes solutions for pediatric trauma and deformity correction, scoliosis and spinal disorders, sports medicine, limb lengthening and reconstruction, and neuromuscular conditions.