OrthoPediatrics (NASDAQ:KIDS) Shares Gap Up – Here’s Why

OrthoPediatrics Corp. (NASDAQ:KIDS)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $24.86, but opened at $25.51. OrthoPediatrics shares last traded at $25.28, with a volume of 7,053 shares traded.

Analysts Set New Price Targets

A number of equities analysts have issued reports on KIDS shares. Truist Financial decreased their price objective on shares of OrthoPediatrics from $28.00 to $25.00 and set a “hold” rating on the stock in a research report on Wednesday, December 18th. Needham & Company LLC restated a “buy” rating and set a $42.00 price target on shares of OrthoPediatrics in a report on Wednesday, March 5th. Finally, Stifel Nicolaus dropped their price objective on OrthoPediatrics from $40.00 to $32.00 and set a “buy” rating for the company in a report on Wednesday, March 5th.

OrthoPediatrics Price Performance

The stock has a market cap of $592.85 million, a PE ratio of -19.85 and a beta of 1.22. The business has a fifty day simple moving average of $24.87 and a two-hundred day simple moving average of $25.33. The company has a current ratio of 7.17, a quick ratio of 3.68 and a debt-to-equity ratio of 0.19.

OrthoPediatrics (NASDAQ:KIDS) last issued its quarterly earnings results on Tuesday, March 4th. The company reported ($0.29) earnings per share for the quarter, topping the consensus estimate of ($0.33) by $0.04. The company had revenue of $52.67 million for the quarter, compared to analysts’ expectations of $51.16 million. OrthoPediatrics had a negative return on equity of 5.78% and a negative net margin of 15.00%. During the same period in the prior year, the firm earned ($0.23) earnings per share. Research analysts forecast that OrthoPediatrics Corp. will post -0.93 earnings per share for the current year.

Insiders Place Their Bets

In other OrthoPediatrics news, General Counsel Daniel J. Gerritzen sold 5,310 shares of the firm’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $24.86, for a total transaction of $132,006.60. Following the completion of the sale, the general counsel now directly owns 110,767 shares in the company, valued at approximately $2,753,667.62. This trade represents a 4.57 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Gregory A. Odle sold 5,359 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 transaction of $133,224.74. Following the completion of the transaction, the insider now directly owns 148,788 shares of the company’s stock, valued at $3,698,869.68. This trade represents a 3.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,732 shares of company stock worth $589,978. 31.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Quarry LP bought a new position in OrthoPediatrics during the 3rd quarter valued at about $25,000. R Squared Ltd bought a new position in OrthoPediatrics during the fourth quarter valued at approximately $48,000. KLP Kapitalforvaltning AS bought a new stake in OrthoPediatrics in the 4th quarter worth approximately $79,000. BNP Paribas Financial Markets raised its stake in 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 buying an additional 1,929 shares during the last quarter. Finally, Quantbot Technologies LP lifted its holdings in shares of OrthoPediatrics by 42.2% during the 3rd quarter. Quantbot Technologies LP now owns 5,773 shares of the company’s stock valued at $157,000 after buying an additional 1,712 shares during the period. 69.05% of the stock is owned by institutional investors.

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.