OrthoPediatrics Corp. (NASDAQ:KIDS) Sees Significant Growth in Short Interest

OrthoPediatrics Corp. (NASDAQ:KIDS) was the recipient of a significant increase in short interest in August. As of August 31st, there was short interest totalling 932,500 shares, an increase of 6.2% from the August 15th total of 878,400 shares. Based on an average trading volume of 170,800 shares, the days-to-cover ratio is presently 5.5 days. Approximately 5.7% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on KIDS shares. JMP Securities reissued a “market outperform” rating and issued a $50.00 price objective on shares of OrthoPediatrics in a report on Friday. Truist Financial reissued a “hold” rating and issued a $34.00 price target (up from $30.00) on shares of OrthoPediatrics in a report on Friday. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $42.00 target price on shares of OrthoPediatrics in a report on Friday.

OrthoPediatrics Price Performance

KIDS traded up $0.14 during trading on Tuesday, hitting $31.08. The company’s stock had a trading volume of 168,362 shares, compared to its average volume of 169,428. The firm has a market capitalization of $740.61 million, a price-to-earnings ratio of -32.38 and a beta of 1.18. OrthoPediatrics has a twelve month low of $23.10 and a twelve month high of $36.23. The business’s fifty day simple moving average is $30.80 and its 200 day simple moving average is $30.20. The company has a current ratio of 4.90, a quick ratio of 1.96 and a debt-to-equity ratio of 0.03.

OrthoPediatrics (NASDAQ:KIDS) last released its quarterly earnings results on Monday, August 5th. The company reported ($0.23) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.08. The firm had revenue of $52.80 million for the quarter, compared to analysts’ expectations of $52.40 million. OrthoPediatrics had a negative net margin of 14.35% and a negative return on equity of 5.44%. On average, equities research analysts forecast that OrthoPediatrics will post -0.96 EPS for the current fiscal year.

Insider Activity

In other news, General Counsel Daniel J. Gerritzen sold 10,000 shares of OrthoPediatrics stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $29.30, for a total transaction of $293,000.00. Following the completion of the sale, the general counsel now directly owns 77,304 shares in the company, valued at $2,265,007.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 31.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Quest Partners LLC purchased a new stake in OrthoPediatrics during the 2nd quarter worth approximately $34,000. EntryPoint Capital LLC increased its position in shares of OrthoPediatrics by 56.9% during the first quarter. EntryPoint Capital LLC now owns 2,783 shares of the company’s stock worth $81,000 after purchasing an additional 1,009 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of OrthoPediatrics during the second quarter worth approximately $110,000. State Board of Administration of Florida Retirement System acquired a new position in OrthoPediatrics in the 1st quarter valued at $178,000. Finally, Deerfield Management Company L.P. Series C purchased a new position in OrthoPediatrics in the 2nd quarter valued at $203,000. Institutional investors and hedge funds 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.