OrthoPediatrics (NASDAQ:KIDS) Price Target Lowered to $24.00 at Truist Financial

OrthoPediatrics (NASDAQ:KIDS) had its price objective dropped by research analysts at Truist Financial from $26.00 to $24.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a “hold” rating on the stock. Truist Financial’s target price would indicate a potential upside of 13.42% from the stock’s current price.

A number of other research analysts have also commented on KIDS. Needham & Company LLC reaffirmed a “buy” rating and issued a $42.00 price objective on shares of OrthoPediatrics in a report on Wednesday. Lake Street Capital initiated coverage on shares of OrthoPediatrics in a research note on Monday, April 7th. They issued a “buy” rating and a $37.00 price objective on the stock. Finally, Stifel Nicolaus decreased their target price on OrthoPediatrics from $40.00 to $32.00 and set a “buy” rating on the stock in a research report on Wednesday, March 5th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $37.00.

OrthoPediatrics Price Performance

NASDAQ KIDS opened at $21.16 on Friday. OrthoPediatrics has a 12-month low of $20.78 and a 12-month high of $35.99. The firm’s 50 day moving average is $24.14 and its 200-day moving average is $24.73. The company has a market capitalization of $513.91 million, a PE ratio of -17.20 and a beta of 1.17. The company has a quick ratio of 3.68, a current ratio of 7.17 and a debt-to-equity ratio of 0.19.

OrthoPediatrics (NASDAQ:KIDS) last released its quarterly earnings data on Tuesday, March 4th. The company reported ($0.29) EPS for the quarter, beating the consensus estimate of ($0.33) by $0.04. OrthoPediatrics had a negative return on equity of 5.78% and a negative net margin of 15.00%. The company had revenue of $52.67 million during the quarter, compared to the consensus estimate of $51.16 million. During the same quarter in the prior year, the firm posted ($0.23) EPS. Equities research analysts anticipate that OrthoPediatrics will post -0.93 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other OrthoPediatrics news, General Counsel Daniel J. Gerritzen sold 5,310 shares of the business’s stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $24.86, for a total value of $132,006.60. Following the transaction, the general counsel now owns 110,767 shares of the company’s stock, valued at approximately $2,753,667.62. The trade was a 4.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Fred Hite sold 6,443 shares of the firm’s stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $24.86, for a total transaction of $160,172.98. Following the sale, the chief financial officer now owns 207,989 shares of the company’s stock, valued at $5,170,606.54. This trade represents a 3.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,732 shares of company stock valued at $589,978. Corporate insiders own 31.80% of the company’s stock.

Institutional Investors Weigh In On OrthoPediatrics

Several institutional investors have recently made changes to their positions in the stock. Quarry LP purchased a new position in shares of OrthoPediatrics during the 3rd quarter valued at $25,000. R Squared Ltd purchased a new position in shares of OrthoPediatrics in the 4th quarter worth about $48,000. KLP Kapitalforvaltning AS bought a new position in OrthoPediatrics during the fourth quarter valued at approximately $79,000. BNP Paribas Financial Markets grew its holdings in shares of OrthoPediatrics by 125.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 3,471 shares of the company’s stock valued at $94,000 after purchasing an additional 1,929 shares during the last quarter. Finally, AlphaCentric Advisors LLC bought a new position in shares of OrthoPediatrics during the fourth quarter valued at about $171,000. Hedge funds and other institutional investors own 69.05% of the company’s stock.

OrthoPediatrics Company Profile

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.