OrthoPediatrics (NASDAQ:KIDS) Shares Gap Down Following Analyst Downgrade

Shares of OrthoPediatrics Corp. (NASDAQ:KIDS) gapped down before the market opened on Wednesday after Stifel Nicolaus lowered their price target on the stock from $40.00 to $32.00. The stock had previously closed at $22.89, but opened at $22.28. Stifel Nicolaus currently has a buy rating on the stock. OrthoPediatrics shares last traded at $23.69, with a volume of 12,976 shares traded.

Several other analysts have also recently weighed in on KIDS. Truist Financial dropped their price objective on shares of OrthoPediatrics from $28.00 to $25.00 and set a “hold” rating for the company in a research note on Wednesday, December 18th. Needham & Company LLC reiterated a “buy” rating and issued a $42.00 price target on shares of OrthoPediatrics in a research note on Wednesday.

Hedge Funds Weigh In On OrthoPediatrics

Several hedge funds have recently bought and sold shares of the company. Millennium Management LLC bought a new position in OrthoPediatrics in the fourth quarter valued at approximately $9,798,000. Point72 Asset Management L.P. bought a new position in shares of OrthoPediatrics in the 4th quarter valued at $7,450,000. Wasatch Advisors LP raised its holdings in shares of OrthoPediatrics by 47.2% during the 4th 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 in the last quarter. Wellington Management Group LLP lifted 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 buying an additional 178,078 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in 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 buying an additional 152,681 shares in the last quarter. 69.05% of the stock is owned by institutional investors.

OrthoPediatrics Stock Performance

The company has a debt-to-equity ratio of 0.19, a current ratio of 7.17 and a quick ratio of 3.68. The stock has a market cap of $579.13 million, a P/E ratio of -19.32 and a beta of 1.14. The stock has a 50-day simple moving average of $24.39 and a 200-day simple moving average of $25.94.

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

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.