Truist Financial Has Lowered Expectations for OrthoPediatrics (NASDAQ:KIDS) Stock Price

OrthoPediatrics (NASDAQ:KIDS) had its price target dropped by Truist Financial from $26.00 to $24.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. Truist Financial’s price target points to a potential upside of 13.42% from the company’s current price.

Several other brokerages have also weighed in on KIDS. Stifel Nicolaus cut their price objective on shares of OrthoPediatrics from $40.00 to $32.00 and set a “buy” rating on the stock in a report on Wednesday, March 5th. Needham & Company LLC reaffirmed a “buy” rating and issued a $42.00 target price on shares of OrthoPediatrics in a research report on Wednesday. Finally, Lake Street Capital assumed coverage on shares of OrthoPediatrics in a research note on Monday, April 7th. They issued a “buy” rating and a $37.00 target price for the company. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $37.00.

OrthoPediatrics Stock Performance

Shares of KIDS stock opened at $21.16 on Friday. OrthoPediatrics has a 12-month low of $20.78 and a 12-month high of $35.99. The company has a current ratio of 7.17, a quick ratio of 3.68 and a debt-to-equity ratio of 0.19. The stock has a 50 day simple moving average of $24.14 and a 200-day simple moving average of $24.73. The company has a market cap of $513.91 million, a price-to-earnings ratio of -17.20 and a beta of 1.17.

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

Insider Activity at OrthoPediatrics

In related news, CFO Fred Hite sold 6,443 shares of the company’s stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $24.86, for a total transaction of $160,172.98. Following the transaction, the chief financial officer now directly owns 207,989 shares of the company’s stock, valued at approximately $5,170,606.54. The trade was a 3.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David R. Bailey sold 6,620 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 transaction of $164,573.20. Following the completion of the sale, the chief executive officer now directly owns 319,155 shares of the company’s stock, valued at $7,934,193.30. This trade represents a 2.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,732 shares of company stock valued at $589,978 over the last 90 days. 31.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On OrthoPediatrics

Several large investors have recently made changes to their positions in KIDS. Quarry LP bought a new stake in OrthoPediatrics during the third quarter worth approximately $25,000. R Squared Ltd acquired a new stake in shares of OrthoPediatrics during the 4th quarter worth approximately $48,000. KLP Kapitalforvaltning AS bought a new stake in OrthoPediatrics in the 4th quarter valued at $79,000. BNP Paribas Financial Markets increased its stake in OrthoPediatrics by 125.1% in the third quarter. BNP Paribas Financial Markets now owns 3,471 shares of the company’s stock valued at $94,000 after acquiring an additional 1,929 shares during the period. Finally, AlphaCentric Advisors LLC bought a new stake in shares of OrthoPediatrics in the 4th quarter valued at approximately $171,000. Institutional investors own 69.05% of the company’s stock.

OrthoPediatrics Company Profile

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.