OrthoPediatrics (NASDAQ:KIDS) Sees Unusually-High Trading Volume – Here’s Why

OrthoPediatrics Corp. (NASDAQ:KIDS) saw strong trading volume on Friday . Approximately 379,983 shares traded hands during mid-day trading, an increase of 122% from the previous session’s volume of 171,488 shares.The stock last traded at $23.61 and had previously closed at $23.32.

Analyst Ratings Changes

Several research firms have weighed in on KIDS. Needham & Company LLC lifted their price objective on OrthoPediatrics from $30.00 to $35.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Truist Financial set a $22.00 target price on OrthoPediatrics in a research report on Wednesday, August 5th. Piper Sandler restated an “overweight” rating and issued a $25.00 target price (up from $22.00) on shares of OrthoPediatrics in a research note on Wednesday, August 5th. TD Cowen restated a “buy” rating on shares of OrthoPediatrics in a research report on Monday, June 15th. Finally, BTIG Research upped their price target on OrthoPediatrics from $24.00 to $29.00 and gave the stock a “buy” rating in a research note on Thursday, August 20th. Nine equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $26.44.

OrthoPediatrics Trading Up 1.4%

The firm has a market cap of $617.50 million, a PE ratio of -14.08 and a beta of 0.98. The company has a quick ratio of 2.17, a current ratio of 4.78 and a debt-to-equity ratio of 0.28. The stock’s fifty day simple moving average is $21.41 and its two-hundred day simple moving average is $18.66.

OrthoPediatrics (NASDAQ:KIDS) last announced its earnings results on Tuesday, August 4th. The company reported ($0.26) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.04. OrthoPediatrics had a negative net margin of 15.72% and a negative return on equity of 8.10%. The business had revenue of $70.51 million during the quarter, compared to the consensus estimate of $68.21 million. On average, sell-side analysts forecast that OrthoPediatrics Corp. will post -1.14 EPS for the current fiscal year.

Insider Activity at OrthoPediatrics

In other OrthoPediatrics news, Director David R. Pelizzon sold 18,000 shares of OrthoPediatrics stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $24.28, for a total transaction of $437,040.00. Following the completion of the transaction, the director owned 6,863,464 shares in the company, valued at approximately $166,644,905.92. The trade was a 0.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Squadron Capital Llc sold 18,000 shares of the business’s stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $24.28, for a total value of $437,040.00. Following the completion of the sale, the insider directly owned 6,863,464 shares in the company, valued at $166,644,905.92. This trade represents a 0.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 114,900 shares of company stock valued at $2,829,906 in the last 90 days. Corporate insiders own 32.50% of the company’s stock.

Hedge Funds Weigh In On OrthoPediatrics

A number of hedge funds have recently bought and sold shares of KIDS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in OrthoPediatrics by 6.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,995 shares of the company’s stock valued at $246,000 after purchasing an additional 645 shares in the last quarter. Millennium Management LLC raised its holdings in OrthoPediatrics by 55.3% in the first quarter. Millennium Management LLC now owns 656,578 shares of the company’s stock worth $16,172,000 after buying an additional 233,873 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of OrthoPediatrics by 112.3% in the first quarter. Goldman Sachs Group Inc. now owns 200,439 shares of the company’s stock worth $4,937,000 after buying an additional 106,041 shares in the last quarter. Jane Street Group LLC bought a new position in shares of OrthoPediatrics in the first quarter worth approximately $389,000. Finally, American Century Companies Inc. lifted its stake in shares of OrthoPediatrics by 12.5% in the second quarter. American Century Companies Inc. now owns 34,486 shares of the company’s stock worth $741,000 after buying an additional 3,828 shares in the last quarter. Institutional investors own 69.05% of the company’s stock.

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.