OrthoPediatrics (NASDAQ:KIDS) Shares Up 6.1% – Here’s Why

OrthoPediatrics Corp. (NASDAQ:KIDS) rose 6.1% during mid-day trading on Tuesday . The stock traded as high as $24.34 and last traded at $24.20. Approximately 91,979 shares changed hands during mid-day trading, a decline of 45% from the average daily volume of 167,614 shares. The stock had previously closed at $22.81.

Analysts Set New Price Targets

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

OrthoPediatrics Price Performance

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 firm has a 50-day simple moving average of $27.07 and a two-hundred day simple moving average of $29.57.

Insider Buying and Selling at OrthoPediatrics

In other OrthoPediatrics news, General Counsel Daniel J. Gerritzen sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $29.30, for a total transaction of $293,000.00. Following the sale, the general counsel now directly owns 77,304 shares of the company’s stock, valued at $2,265,007.20. This trade represents a 11.45 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 31.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On OrthoPediatrics

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in shares of OrthoPediatrics by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 883,827 shares of the company’s stock valued at $25,772,000 after purchasing an additional 11,100 shares in the last quarter. Wellington Management Group LLP lifted its stake in OrthoPediatrics by 16.2% during the third quarter. Wellington Management Group LLP now owns 883,221 shares of the company’s stock valued at $23,944,000 after purchasing an additional 122,846 shares during the last quarter. AWM Investment Company Inc. lifted its position in shares of OrthoPediatrics by 14.6% in the 1st quarter. AWM Investment Company Inc. now owns 487,619 shares of the company’s stock valued at $14,219,000 after acquiring an additional 62,000 shares in the last quarter. State Street Corp increased its stake in OrthoPediatrics by 1.0% in the 3rd quarter. State Street Corp now owns 417,898 shares of the company’s stock valued at $11,329,000 after buying an additional 4,236 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of OrthoPediatrics by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 391,492 shares of the company’s stock worth $10,615,000 after purchasing an additional 7,972 shares during the last quarter. 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.