OrthoPediatrics (NASDAQ:KIDS) Trading Down 5.4% – Here’s What Happened

OrthoPediatrics Corp. (NASDAQ:KIDS) shares traded down 5.4% during trading on Tuesday . The stock traded as low as $25.09 and last traded at $25.18. 36,370 shares changed hands during mid-day trading, a decline of 78% from the average session volume of 168,215 shares. The stock had previously closed at $26.61.

Analysts Set New Price Targets

KIDS has been the topic of several recent analyst reports. Truist Financial dropped their target price on OrthoPediatrics from $34.00 to $28.00 and set a “hold” rating on the stock in a report on Monday, October 14th. Needham & Company LLC reiterated a “buy” rating and issued a $42.00 price objective on shares of OrthoPediatrics in a research note on Friday, November 8th. Finally, JMP Securities reissued a “market outperform” rating and issued a $50.00 price target on shares of OrthoPediatrics in a research note on Friday, September 13th.

OrthoPediatrics Stock Performance

The company has a market capitalization of $635.05 million, a P/E ratio of -21.63 and a beta of 1.16. 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 stock’s 50 day simple moving average is $26.36 and its two-hundred day simple moving average is $29.24.

Institutional Trading of OrthoPediatrics

Hedge funds have recently added to or reduced their stakes in the business. Quarry LP acquired a new position in OrthoPediatrics in the 3rd quarter worth $25,000. International Assets Investment Management LLC grew its holdings in OrthoPediatrics by 2,610.8% during the third quarter. International Assets Investment Management LLC now owns 1,003 shares of the company’s stock worth $27,000 after purchasing an additional 966 shares during the period. Quest Partners LLC bought a new stake in OrthoPediatrics in the second quarter valued at approximately $34,000. BNP Paribas Financial Markets lifted its holdings 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 purchasing an additional 1,929 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of OrthoPediatrics in the second quarter valued at $110,000. Institutional investors and hedge funds 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.