OrthoPediatrics (NASDAQ:KIDS) Reaches New 52-Week High – Here’s What Happened

OrthoPediatrics Corp. (NASDAQ:KIDS) hit a new 52-week high during mid-day trading on Wednesday. The company traded as high as $33.03 and last traded at $32.9810, with a volume of 37,104 shares trading hands. The stock had previously closed at $30.43.

Analyst Ratings Changes

Several brokerages have weighed in on KIDS. Stifel Nicolaus upped their target price on OrthoPediatrics from $24.00 to $27.00 and gave the stock a “buy” rating in a report on Wednesday, October 28th. BTIG Research lifted their price objective on OrthoPediatrics from $29.00 to $30.00 and gave the company a “buy” rating in a report on Wednesday, October 28th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of OrthoPediatrics in a research note on Tuesday. Piper Sandler reaffirmed an “overweight” rating and issued a $30.00 price objective (up from $25.00) on shares of OrthoPediatrics in a research note on Wednesday, October 28th. Finally, TD Cowen increased their target price on shares of OrthoPediatrics from $23.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, October 28th. Seven equities research 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’s stock. Based on data from MarketBeat, OrthoPediatrics currently has a consensus rating of “Moderate Buy” and an average target price of $30.75.

OrthoPediatrics Stock Performance

The company has a debt-to-equity ratio of 0.29, a current ratio of 4.55 and a quick ratio of 2.00. The company has a market cap of $841.26 million, a PE ratio of -22.53 and a beta of 0.90. The business has a fifty day simple moving average of $23.89 and a two-hundred day simple moving average of $19.86.

OrthoPediatrics (NASDAQ:KIDS) last announced its quarterly earnings results on Tuesday, October 27th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.02). The company had revenue of $72.66 million during the quarter, compared to analysts’ expectations of $68.50 million. OrthoPediatrics had a negative net margin of 12.83% and a negative return on equity of 8.10%. Research analysts anticipate that OrthoPediatrics Corp. will post -1.09 earnings per share for the current year.

Insider Buying and Selling at OrthoPediatrics

In related news, Director David R. Pelizzon sold 302,369 shares of the business’s stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $21.01, for a total transaction of $6,352,772.69. Following the completion of the transaction, the director owned 6,201,764 shares in the company, valued at $130,299,061.64. The trade was a 4.65% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Jennifer N. Pritzker sold 302,369 shares of the business’s stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $21.01, for a total transaction of $6,352,772.69. Following the transaction, the insider owned 6,201,764 shares of the company’s stock, valued at approximately $130,299,061.64. This trade represents a 4.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 2,100,000 shares of company stock valued at $46,747,931. 32.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On OrthoPediatrics

A number of large investors have recently made changes to their positions in the business. Riverbridge Partners LLC grew its stake in shares of OrthoPediatrics by 108.9% during the third quarter. Riverbridge Partners LLC now owns 324,447 shares of the company’s stock worth $7,225,000 after acquiring an additional 169,132 shares during the last quarter. AIGH Capital Management LLC increased its holdings in shares of OrthoPediatrics by 334.4% during the third quarter. AIGH Capital Management LLC now owns 1,171,765 shares of the company’s stock valued at $26,095,000 after acquiring an additional 902,000 shares in the last quarter. Conestoga Capital Advisors LLC raised its position in shares of OrthoPediatrics by 16.2% in the 3rd quarter. Conestoga Capital Advisors LLC now owns 74,975 shares of the company’s stock valued at $1,670,000 after purchasing an additional 10,440 shares during the last quarter. Ellsworth Advisors LLC purchased a new position in shares of OrthoPediatrics in the 3rd quarter valued at approximately $900,000. Finally, GAMMA Investing LLC raised its position in shares of OrthoPediatrics by 70.3% in the 3rd quarter. GAMMA Investing LLC now owns 1,165 shares of the company’s stock valued at $26,000 after purchasing an additional 481 shares during the last quarter. 69.05% of the stock is owned by institutional investors and hedge funds.

About OrthoPediatrics

OrthoPediatrics Corp. is a medical device company focused exclusively on developing and commercializing orthopedic products for children. The company designs implants, instruments and related technologies intended to address the distinct anatomical and clinical needs of pediatric patients, including those with congenital conditions, traumatic injuries and musculoskeletal disorders.

Its product portfolio covers pediatric trauma and deformity correction, scoliosis, limb reconstruction, sports medicine and other specialized orthopedic procedures.