Prosight Management LP Increases Position in OrthoPediatrics Corp. $KIDS

Prosight Management LP raised its holdings in shares of OrthoPediatrics Corp. (NASDAQ:KIDS) by 319.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 308,707 shares of the company’s stock after purchasing an additional 235,060 shares during the period. OrthoPediatrics accounts for 1.3% of Prosight Management LP’s portfolio, making the stock its 26th largest position. Prosight Management LP’s holdings in OrthoPediatrics were worth $5,720,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in KIDS. Grandeur Peak Global Advisors LLC bought a new position in OrthoPediatrics during the 2nd quarter valued at approximately $452,000. Los Angeles Capital Management LLC purchased a new position in OrthoPediatrics during the second quarter valued at $220,000. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in OrthoPediatrics by 12.4% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 15,901 shares of the company’s stock worth $342,000 after acquiring an additional 1,753 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in OrthoPediatrics by 60.2% in the third quarter. BNP Paribas Financial Markets now owns 3,288 shares of the company’s stock worth $61,000 after acquiring an additional 1,235 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its stake in shares of OrthoPediatrics by 433.1% in the third quarter. Russell Investments Group Ltd. now owns 1,402 shares of the company’s stock worth $26,000 after acquiring an additional 1,139 shares during the last quarter. 69.05% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on KIDS shares. BTIG Research raised their price target on OrthoPediatrics from $23.00 to $24.00 and gave the company a “buy” rating in a report on Friday, February 27th. Truist Financial increased their price objective on shares of OrthoPediatrics from $19.00 to $20.00 and gave the company a “hold” rating in a research report on Monday, March 2nd. Wall Street Zen upgraded shares of OrthoPediatrics from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of OrthoPediatrics in a report on Thursday, January 22nd. Finally, Canaccord Genuity Group began coverage on shares of OrthoPediatrics in a research note on Wednesday, December 10th. They issued a “buy” rating and a $24.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $24.67.

OrthoPediatrics Trading Down 1.3%

Shares of NASDAQ:KIDS opened at $17.31 on Friday. The company has a market cap of $437.60 million, a P/E ratio of -10.24 and a beta of 1.07. The company has a debt-to-equity ratio of 0.28, a current ratio of 5.55 and a quick ratio of 2.65. OrthoPediatrics Corp. has a 1 year low of $15.28 and a 1 year high of $26.40. The stock’s fifty day moving average price is $17.76 and its 200-day moving average price is $18.05.

OrthoPediatrics (NASDAQ:KIDS) last released its quarterly earnings data on Thursday, February 26th. The company reported ($0.26) EPS for the quarter, topping the consensus estimate of ($0.37) by $0.11. OrthoPediatrics had a negative return on equity of 6.70% and a negative net margin of 16.77%.The company had revenue of $61.61 million during the quarter, compared to the consensus estimate of $61.27 million. Sell-side analysts expect that OrthoPediatrics Corp. will post -0.93 earnings per share for the current year.

OrthoPediatrics Company Profile

OrthoPediatrics Corp., founded in 2007 and headquartered in Warsaw, Indiana, is a medical device company dedicated exclusively to providing orthopedic solutions for children. The company focuses on developing, manufacturing and marketing a broad portfolio of implants and instruments designed to address a wide range of pediatric conditions, including trauma, deformity correction, spine disorders and sports injuries.

The company’s product lines include locking plates and screws for upper and lower extremity reconstruction, intramedullary nails for femur and tibia stabilization, and specialized systems such as the MAGEC Magnetic Growth Rod for treatment of early-onset scoliosis.