OrthoPediatrics (NASDAQ:KIDS) Stock Price Down 3.5% – What’s Next?

Shares of OrthoPediatrics Corp. (NASDAQ:KIDS) were down 3.5% during mid-day trading on Thursday . The stock traded as low as $22.44 and last traded at $22.3490. Approximately 44,246 shares changed hands during mid-day trading, a decline of 75% from the average daily volume of 174,151 shares. The stock had previously closed at $23.15.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. TD Cowen reiterated a “buy” rating on shares of OrthoPediatrics in a research note on Monday, June 15th. BTIG Research reaffirmed a “buy” rating and issued a $29.00 price target on shares of OrthoPediatrics in a research note on Monday. Truist Financial set a $22.00 price target on OrthoPediatrics in a research report on Wednesday, August 5th. Needham & Company LLC increased their price objective on OrthoPediatrics from $30.00 to $35.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Finally, Piper Sandler restated 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 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, the company currently has an average rating of “Moderate Buy” and an average price target of $26.44.

OrthoPediatrics Price Performance

The firm has a market capitalization of $575.46 million, a PE ratio of -13.12 and a beta of 0.99. The stock’s 50 day simple moving average is $22.19 and its two-hundred day simple moving average is $19.19. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.17 and a current ratio of 4.78.

OrthoPediatrics (NASDAQ:KIDS) last posted its quarterly earnings results on Tuesday, August 4th. The company reported ($0.26) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $70.51 million during the quarter, compared to analyst estimates of $68.21 million. On average, sell-side analysts forecast that OrthoPediatrics Corp. will post -1.14 EPS for the current year.

Insider Activity

In related news, Director David R. Pelizzon sold 302,369 shares of the company’s stock in a transaction that occurred 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 director directly owned 6,201,764 shares in the company, 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 legal filing with the SEC, which is accessible through this link. Also, major shareholder Jennifer N. Pritzker sold 302,369 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider owned 6,201,764 shares of the company’s stock, valued at $130,299,061.64. The trade was a 4.65% decrease in their ownership of the stock. 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 in the last 90 days. Company insiders own 32.50% of the company’s stock.

Hedge Funds Weigh In On OrthoPediatrics

Large investors have recently modified their holdings of the business. BlackRock Inc. purchased a new stake in shares of OrthoPediatrics in the 2nd quarter valued at $24,347,000. AIGH Capital Management LLC purchased a new position in OrthoPediatrics during the 2nd quarter valued at about $5,161,000. Nantahala Capital Management LLC acquired a new position in OrthoPediatrics in the 2nd quarter valued at about $4,636,002. AWM Investment Company Inc. purchased a new stake in OrthoPediatrics during the second quarter worth about $4,537,000. Finally, Granahan Investment Management LLC increased its stake in OrthoPediatrics by 35.1% during the first quarter. Granahan Investment Management LLC now owns 896,741 shares of the company’s stock worth $14,231,000 after purchasing an additional 232,760 shares during the period. Institutional investors and hedge funds own 69.05% of the company’s stock.

OrthoPediatrics Company Profile

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.