OrthoPediatrics (NASDAQ:KIDS) Hits New 52-Week High After Analyst Upgrade

OrthoPediatrics Corp. (NASDAQ:KIDS)’s share price reached a new 52-week high on Thursday after Needham & Company LLC raised their price target on the stock from $30.00 to $35.00. Needham & Company LLC currently has a buy rating on the stock. OrthoPediatrics traded as high as $23.11 and last traded at $22.81, with a volume of 19242 shares changing hands. The stock had previously closed at $22.31.

Other equities research analysts have also recently issued reports about the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of OrthoPediatrics in a research note on Friday, July 17th. TD Cowen reissued a “buy” rating on shares of OrthoPediatrics in a research note on Monday, June 15th. Truist Financial raised their target price on OrthoPediatrics from $17.00 to $20.00 and gave the company a “hold” rating in a report on Thursday, July 16th. Canaccord Genuity Group set a $25.00 target price on OrthoPediatrics in a research report on Friday, April 24th. Finally, BTIG Research reaffirmed a “buy” rating and issued a $24.00 target price on shares of OrthoPediatrics in a research report on Friday, May 1st. Nine investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, OrthoPediatrics has an average rating of “Moderate Buy” and a consensus target price of $25.89.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in KIDS. Russell Investments Group Ltd. increased its stake in OrthoPediatrics by 433.1% in the third quarter. Russell Investments Group Ltd. now owns 1,402 shares of the company’s stock valued at $26,000 after purchasing an additional 1,139 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its position in shares of OrthoPediatrics by 5,226.5% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,610 shares of the company’s stock valued at $46,000 after buying an additional 2,561 shares during the last quarter. Caption Management LLC purchased a new position in shares of OrthoPediatrics in the 3rd quarter valued at $54,000. BNP Paribas Financial Markets raised its stake in OrthoPediatrics by 60.2% during the 3rd 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, State of Wyoming raised its stake in OrthoPediatrics by 189.7% during the 4th quarter. State of Wyoming now owns 6,822 shares of the company’s stock worth $121,000 after acquiring an additional 4,467 shares in the last quarter. Hedge funds and other institutional investors own 69.05% of the company’s stock.

OrthoPediatrics Trading Up 1.9%

The stock has a market capitalization of $583.63 million, a PE ratio of -13.57 and a beta of 0.98. The company has a quick ratio of 2.37, a current ratio of 5.21 and a debt-to-equity ratio of 0.29. The business’s 50-day moving average is $19.18 and its two-hundred day moving average is $17.84.

OrthoPediatrics (NASDAQ:KIDS) last issued its quarterly earnings data 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. The company had revenue of $70.51 million during the quarter, compared to analysts’ expectations of $68.21 million. OrthoPediatrics had a negative return on equity of 8.10% and a negative net margin of 15.72%. On average, analysts anticipate that OrthoPediatrics Corp. will post -1.13 earnings per share for the current fiscal year.

About OrthoPediatrics

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.