Needham & Company LLC Reiterates Buy Rating for OrthoPediatrics (NASDAQ:KIDS)

OrthoPediatrics (NASDAQ:KIDS - Get Free Report)'s stock had its "buy" rating restated by stock analysts at Needham & Company LLC in a research note issued on Wednesday,Benzinga reports. They currently have a $42.00 price target on the stock. Needham & Company LLC's price target indicates a potential upside of 105.28% from the company's previous close.

KIDS has been the subject of a number of other reports. Truist Financial reduced their target price on shares of OrthoPediatrics from $28.00 to $25.00 and set a "hold" rating for the company in a research note on Wednesday, December 18th. Lake Street Capital assumed coverage on OrthoPediatrics in a research report on Monday, April 7th. They issued a "buy" rating and a $37.00 target price on the stock. Finally, Stifel Nicolaus decreased their price target on shares of OrthoPediatrics from $40.00 to $32.00 and set a "buy" rating for the company in a research note on Wednesday, March 5th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, OrthoPediatrics has a consensus rating of "Moderate Buy" and a consensus target price of $37.00.

OrthoPediatrics Price Performance

Shares of KIDS traded down $0.70 during mid-day trading on Wednesday, hitting $20.46. 24,925 shares of the company traded hands, compared to its average volume of 199,812. The company has a current ratio of 7.17, a quick ratio of 3.68 and a debt-to-equity ratio of 0.19. The business has a 50-day moving average of $24.14 and a 200 day moving average of $24.72. OrthoPediatrics has a one year low of $20.48 and a one year high of $35.99. The stock has a market capitalization of $496.91 million, a price-to-earnings ratio of -16.63 and a beta of 1.17.

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OrthoPediatrics (NASDAQ:KIDS - Get Free Report) last released its earnings results on Tuesday, March 4th. The company reported ($0.29) EPS for the quarter, beating the consensus estimate of ($0.33) by $0.04. The company had revenue of $52.67 million during 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 last year, the firm earned ($0.23) EPS. As a group, equities analysts expect that OrthoPediatrics will post -0.93 earnings per share for the current fiscal year.

Insider Activity at OrthoPediatrics

In other news, CEO David R. Bailey sold 6,620 shares of the company's stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $24.86, for a total transaction of $164,573.20. Following the completion of the transaction, the chief executive officer now directly owns 319,155 shares in the company, valued at approximately $7,934,193.30. This represents a 2.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Fred Hite sold 6,443 shares of the stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $24.86, for a total value of $160,172.98. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,732 shares of company stock valued at $589,978 over the last ninety days. 31.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Quarry LP acquired a new position in OrthoPediatrics during the 3rd quarter worth approximately $25,000. R Squared Ltd acquired a new position in shares of OrthoPediatrics during the fourth quarter worth approximately $48,000. KLP Kapitalforvaltning AS bought a new position in shares of OrthoPediatrics in the 4th quarter worth $79,000. BNP Paribas Financial Markets grew its position in OrthoPediatrics by 125.1% in 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 period. Finally, AlphaCentric Advisors LLC acquired a new stake in OrthoPediatrics in the 4th quarter valued at $171,000. 69.05% of the stock is 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.