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

OrthoPediatrics Corp. (NASDAQ:KIDS) shares gapped up before the market opened 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 changing hands.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on KIDS. Needham & Company LLC reissued a “buy” rating and set a $42.00 target price on shares of OrthoPediatrics in a research report on Wednesday, March 5th. Truist Financial cut their price objective on shares of OrthoPediatrics from $28.00 to $25.00 and set a “hold” rating on the stock in a report on Wednesday, December 18th. Finally, Stifel Nicolaus lowered their target price on OrthoPediatrics from $40.00 to $32.00 and set a “buy” rating for the company in a research note on Wednesday, March 5th.

OrthoPediatrics Trading Down 0.3 %

The firm has a market cap of $601.73 million, a P/E ratio of -20.15 and a beta of 1.22. The business’s 50 day moving average is $24.84 and its 200-day moving average is $25.37. 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 announced its quarterly earnings data 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. OrthoPediatrics had a negative net margin of 15.00% and a negative return on equity of 5.78%. The company had revenue of $52.67 million during the quarter, compared to analyst estimates of $51.16 million. During the same period last year, the business earned ($0.23) EPS. As a group, analysts forecast that OrthoPediatrics Corp. will post -0.93 earnings per share for the current fiscal year.

Insider Buying and Selling at OrthoPediatrics

In related news, CFO Fred Hite sold 6,443 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 transaction of $160,172.98. Following the completion of the sale, the chief financial officer now owns 207,989 shares of the company’s stock, valued at $5,170,606.54. This represents a 3.00 % decrease in their position. The sale 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 stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $24.86, for a total transaction of $132,006.60. Following the sale, the general counsel now 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 disclosure for this sale can be found here. Insiders have sold 23,732 shares of company stock worth $589,978 over the last quarter. 31.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On OrthoPediatrics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Quest Partners LLC boosted its holdings in shares of OrthoPediatrics by 924.4% in the third quarter. Quest Partners LLC now owns 11,986 shares of the company’s stock worth $325,000 after buying an additional 10,816 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new position in OrthoPediatrics during the third quarter worth $295,000. Charles Schwab Investment Management Inc. raised its stake in shares of OrthoPediatrics by 2.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 132,434 shares of the company’s stock valued at $3,590,000 after acquiring an additional 2,661 shares in the last quarter. Quantbot Technologies LP lifted its stake in shares of OrthoPediatrics by 42.2% in the third quarter. Quantbot Technologies LP now owns 5,773 shares of the company’s stock worth $157,000 after buying an additional 1,712 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its position in OrthoPediatrics by 125.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 3,471 shares of the company’s stock worth $94,000 after acquiring an additional 1,929 shares during the last quarter. 69.05% of the stock is currently owned by institutional investors and hedge funds.

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.