Needham & Company LLC Reiterates Buy Rating for OrthoPediatrics (NASDAQ:KIDS)

OrthoPediatrics (NASDAQ:KIDS)‘s stock had its “buy” rating reissued by investment analysts at Needham & Company LLC in a report issued on Wednesday,Benzinga reports. They presently have a $42.00 price objective on the stock. Needham & Company LLC’s price target indicates a potential upside of 92.93% from the stock’s previous close.

Other research analysts also recently issued research reports about the stock. Truist Financial decreased their price objective on shares of OrthoPediatrics from $28.00 to $25.00 and set a “hold” rating for the company in a research report on Wednesday, December 18th. Lake Street Capital started coverage on OrthoPediatrics in a report on Monday. They set a “buy” rating and a $37.00 price target for the company. Finally, Stifel Nicolaus dropped their price objective on OrthoPediatrics from $40.00 to $32.00 and set a “buy” rating on the stock in a research note on Wednesday, March 5th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $37.20.

OrthoPediatrics Stock Performance

Shares of NASDAQ KIDS opened at $21.77 on Wednesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 3.68 and a current ratio of 7.17. The stock has a 50 day moving average price of $24.30 and a 200 day moving average price of $24.84. The stock has a market capitalization of $528.73 million, a PE ratio of -17.70 and a beta of 1.17. OrthoPediatrics has a 52 week low of $21.02 and a 52 week high of $35.99.

OrthoPediatrics (NASDAQ:KIDS) last released its quarterly earnings data on Tuesday, March 4th. The company reported ($0.29) EPS for the quarter, beating the consensus estimate of ($0.33) by $0.04. OrthoPediatrics had a negative return on equity of 5.78% and a negative net margin of 15.00%. The company had revenue of $52.67 million during the quarter, compared to the consensus estimate of $51.16 million. During the same quarter in the prior year, the firm posted ($0.23) EPS. Analysts predict that OrthoPediatrics will post -0.93 earnings per share for the current fiscal year.

Insider Activity at OrthoPediatrics

In other news, CEO David R. Bailey sold 6,620 shares of the company’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $24.86, for a total value of $164,573.20. Following the transaction, the chief executive officer now owns 319,155 shares of the company’s stock, valued at approximately $7,934,193.30. This represents a 2.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Fred Hite sold 6,443 shares of the stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $24.86, for a total value of $160,172.98. Following the transaction, the chief financial officer now owns 207,989 shares in the company, valued at approximately $5,170,606.54. This trade represents a 3.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,732 shares of company stock worth $589,978. Insiders own 31.80% of the company’s stock.

Institutional Investors Weigh In On OrthoPediatrics

A number of hedge funds and other institutional investors have recently modified their holdings of KIDS. GAMMA Investing LLC increased its position in OrthoPediatrics by 4,618.2% during the first quarter. GAMMA Investing LLC now owns 10,616 shares of the company’s stock worth $261,000 after acquiring an additional 10,391 shares during the period. Wellington Management Group LLP grew its position in shares of OrthoPediatrics by 20.2% during the 4th quarter. Wellington Management Group LLP now owns 1,061,299 shares of the company’s stock worth $24,601,000 after purchasing an additional 178,078 shares in the last quarter. AWM Investment Company Inc. grew its position in shares of OrthoPediatrics by 14.8% during the 4th quarter. AWM Investment Company Inc. now owns 516,794 shares of the company’s stock worth $11,979,000 after purchasing an additional 66,779 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of OrthoPediatrics by 76.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 19,863 shares of the company’s stock worth $460,000 after purchasing an additional 8,631 shares during the period. Finally, Point72 Asset Management L.P. acquired a new stake in shares of OrthoPediatrics in the fourth quarter valued at approximately $7,450,000. Institutional investors and hedge funds own 69.05% of the company’s stock.

About OrthoPediatrics

OrthoPediatrics Corp., a medical device company, engages in designing, developing, and marketing anatomically appropriate implants, instruments, and specialized braces for children with orthopedic conditions in the United States and internationally. The company offers pediatric trauma and deformity correction products; scoliosis procedures for the treatment of spinal deformity; and sports medicine and other products.