Truist Financial Boosts OrthoPediatrics (NASDAQ:KIDS) Price Target to $38.00

OrthoPediatrics (NASDAQ:KIDS) had its price target upped by investment analysts at Truist Financial from $35.00 to $38.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has a “hold” rating on the stock. Truist Financial’s price target suggests a potential upside of 14.22% from the company’s previous close.

KIDS has been the subject of a number of other reports. JMP Securities reiterated a “market outperform” rating and set a $50.00 price target on shares of OrthoPediatrics in a report on Tuesday. Needham & Company LLC upped their target price on shares of OrthoPediatrics from $37.00 to $42.00 and gave the stock a “buy” rating in a research note on Tuesday.

OrthoPediatrics Stock Performance

Shares of KIDS traded down $1.43 during trading hours on Wednesday, reaching $33.27. 7,334 shares of the company traded hands, compared to its average volume of 181,964. The company has a quick ratio of 2.90, a current ratio of 5.44 and a debt-to-equity ratio of 0.03. OrthoPediatrics has a 12-month low of $23.10 and a 12-month high of $48.47. The stock has a market capitalization of $791.49 million, a P/E ratio of -36.16 and a beta of 1.16. The business has a fifty day moving average price of $28.80 and a 200-day moving average price of $29.04.

OrthoPediatrics (NASDAQ:KIDS) last issued its quarterly earnings data on Wednesday, March 6th. The company reported ($0.23) EPS for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.05. OrthoPediatrics had a negative net margin of 14.10% and a negative return on equity of 5.03%. The business had revenue of $37.61 million for the quarter, compared to analysts’ expectations of $37.59 million. Equities analysts anticipate that OrthoPediatrics will post -1.34 EPS for the current fiscal year.

Insiders Place Their Bets

In other OrthoPediatrics news, CEO David R. Bailey sold 3,213 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $27.59, for a total transaction of $88,646.67. Following the completion of the sale, the chief executive officer now directly owns 139,384 shares of the company’s stock, valued at approximately $3,845,604.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO David R. Bailey sold 3,213 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $27.59, for a total value of $88,646.67. Following the sale, the chief executive officer now directly owns 139,384 shares in the company, valued at $3,845,604.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Daniel J. Gerritzen sold 2,741 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $27.59, for a total transaction of $75,624.19. Following the transaction, the general counsel now directly owns 52,403 shares of the company’s stock, valued at approximately $1,445,798.77. The disclosure for this sale can be found here. Insiders have sold a total of 17,253 shares of company stock valued at $477,375 over the last quarter. Company insiders own 31.80% of the company’s stock.

Institutional Investors Weigh In On OrthoPediatrics

Institutional investors and hedge funds have recently bought and sold shares of the business. Wellington Management Group LLP acquired a new position in OrthoPediatrics during the 4th quarter worth $10,214,000. Braidwell LP increased its stake in OrthoPediatrics by 39.0% in the 3rd quarter. Braidwell LP now owns 1,057,770 shares of the company’s stock worth $33,849,000 after purchasing an additional 296,562 shares in the last quarter. Granahan Investment Management LLC raised its holdings in shares of OrthoPediatrics by 30.0% during the fourth quarter. Granahan Investment Management LLC now owns 769,245 shares of the company’s stock valued at $25,008,000 after acquiring an additional 177,640 shares during the period. Wasatch Advisors LP grew its holdings in shares of OrthoPediatrics by 21.2% during the first quarter. Wasatch Advisors LP now owns 501,310 shares of the company’s stock valued at $14,618,000 after buying an additional 87,657 shares in the last quarter. Finally, Prime Capital Investment Advisors LLC acquired a new position in shares of OrthoPediatrics in the 4th quarter valued at about $2,035,000. 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.