OrthoPediatrics (NASDAQ:KIDS) Earns “Buy” Rating from Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of OrthoPediatrics (NASDAQ:KIDS) in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $42.00 price objective on the stock.

Several other brokerages also recently commented on KIDS. Truist Financial decreased their price objective on shares of OrthoPediatrics from $28.00 to $25.00 and set a “hold” rating on the stock in a research report on Wednesday, December 18th. Stifel Nicolaus lowered their price objective on OrthoPediatrics from $40.00 to $32.00 and set a “buy” rating on the stock in a research report on Wednesday, March 5th. Finally, Lake Street Capital started coverage on OrthoPediatrics in a research report on Monday. They set 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 MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $37.20.

OrthoPediatrics Stock Performance

NASDAQ:KIDS traded down $1.29 during trading hours on Wednesday, reaching $21.75. The company had a trading volume of 57,860 shares, compared to its average volume of 201,050. The firm’s 50 day moving average price is $24.25 and its 200-day moving average price is $24.80. The firm has a market cap of $528.12 million, a price-to-earnings ratio of -17.60 and a beta of 1.17. OrthoPediatrics has a 52 week low of $20.78 and a 52 week 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.

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

Insiders Place Their Bets

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

Institutional Investors Weigh In On OrthoPediatrics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP boosted its holdings in shares of OrthoPediatrics by 20.2% in 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 during the period. Wasatch Advisors LP boosted its stake in OrthoPediatrics by 47.2% during the fourth quarter. Wasatch Advisors LP now owns 696,318 shares of the company’s stock worth $16,141,000 after buying an additional 223,217 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of OrthoPediatrics by 29.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 671,968 shares of the company’s stock valued at $15,576,000 after acquiring an additional 152,681 shares during the period. AWM Investment Company Inc. raised its stake in shares of OrthoPediatrics by 14.8% in the fourth quarter. AWM Investment Company Inc. now owns 516,794 shares of the company’s stock valued at $11,979,000 after acquiring an additional 66,779 shares during the period. Finally, Millennium Management LLC bought a new stake in shares of OrthoPediatrics in the 4th quarter worth about $9,798,000. 69.05% of the stock is currently owned by hedge funds and other institutional investors.

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.