OrthoPediatrics (NASDAQ:KIDS) Price Target Cut to $30.00 by Analysts at Piper Sandler

OrthoPediatrics (NASDAQ:KIDS) had its price objective reduced by Piper Sandler from $40.00 to $30.00 in a research note published on Thursday,Benzinga reports. They currently have an overweight rating on the stock.

Several other research firms have also recently issued reports on KIDS. Lake Street Capital started coverage on shares of OrthoPediatrics in a research note on Monday, April 7th. They issued a “buy” rating and a $37.00 target price on the stock. Stifel Nicolaus dropped their price objective on OrthoPediatrics from $40.00 to $32.00 and set a “buy” rating for the company in a research note on Wednesday, March 5th. Truist Financial decreased their target price on OrthoPediatrics from $26.00 to $24.00 and set a “hold” rating on the stock in a research note on Friday, April 11th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $42.00 price target on shares of OrthoPediatrics in a research report on Thursday. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, OrthoPediatrics currently has an average rating of “Moderate Buy” and a consensus price target of $35.83.

OrthoPediatrics Price Performance

OrthoPediatrics stock opened at $22.04 on Thursday. The firm has a market capitalization of $535.29 million, a P/E ratio of -17.92 and a beta of 1.09. OrthoPediatrics has a one year low of $20.25 and a one year high of $35.99. The company has a debt-to-equity ratio of 0.19, a current ratio of 7.17 and a quick ratio of 3.68. The business has a fifty day moving average price of $23.08 and a 200-day moving average price of $24.08.

OrthoPediatrics (NASDAQ:KIDS) last issued its earnings results on Wednesday, May 7th. The company reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.26) by ($0.13). OrthoPediatrics had a negative return on equity of 5.78% and a negative net margin of 15.00%. The company had revenue of $52.41 million during the quarter, compared to the consensus estimate of $51.68 million. As a group, equities research analysts forecast that OrthoPediatrics will post -0.93 EPS for the current year.

Insider Activity at OrthoPediatrics

In other news, CEO David R. Bailey sold 6,620 shares of OrthoPediatrics stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $24.86, for a total value of $164,573.20. Following the transaction, the chief executive officer now owns 319,155 shares in the company, valued at approximately $7,934,193.30. The trade was a 2.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Daniel J. Gerritzen sold 5,310 shares of the business’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $24.86, for a total value of $132,006.60. Following the completion of the sale, the general counsel now directly owns 110,767 shares of the company’s stock, valued at approximately $2,753,667.62. This trade represents a 4.57 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,732 shares of company stock valued at $589,978. Insiders own 32.70% of the company’s stock.

Institutional Trading of OrthoPediatrics

A number of hedge funds have recently modified their holdings of KIDS. Invesco Ltd. grew its stake in shares of OrthoPediatrics by 3.0% in the fourth quarter. Invesco Ltd. now owns 16,363 shares of the company’s stock worth $379,000 after acquiring an additional 469 shares during the last quarter. Northern Trust Corp grew its position in OrthoPediatrics by 0.3% in the 4th quarter. Northern Trust Corp now owns 193,798 shares of the company’s stock worth $4,492,000 after purchasing an additional 644 shares during the period. Rhumbline Advisers raised its stake in OrthoPediatrics by 4.1% during the 4th quarter. Rhumbline Advisers now owns 26,411 shares of the company’s stock valued at $612,000 after buying an additional 1,042 shares during the last quarter. R Squared Ltd bought a new position in shares of OrthoPediatrics during the 4th quarter valued at $48,000. Finally, Bank of New York Mellon Corp increased its position in shares of OrthoPediatrics by 3.8% during the 4th quarter. Bank of New York Mellon Corp now owns 57,710 shares of the company’s stock valued at $1,338,000 after purchasing an additional 2,099 shares during the last quarter. Institutional investors own 69.05% of the company’s stock.

About OrthoPediatrics

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.