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Millennium Management LLC Invests $9.80 Million in OrthoPediatrics Corp. (NASDAQ:KIDS)

OrthoPediatrics logo with Medical background

Millennium Management LLC purchased a new position in shares of OrthoPediatrics Corp. (NASDAQ:KIDS - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 422,705 shares of the company's stock, valued at approximately $9,798,000. Millennium Management LLC owned 1.75% of OrthoPediatrics at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. R Squared Ltd acquired a new stake in OrthoPediatrics during the 4th quarter worth $48,000. KLP Kapitalforvaltning AS acquired a new stake in OrthoPediatrics during the 4th quarter worth $79,000. AlphaCentric Advisors LLC acquired a new stake in OrthoPediatrics during the 4th quarter worth $171,000. Wells Fargo & Company MN boosted its stake in OrthoPediatrics by 31.1% during the 4th quarter. Wells Fargo & Company MN now owns 9,853 shares of the company's stock worth $228,000 after purchasing an additional 2,338 shares during the period. Finally, HighTower Advisors LLC acquired a new stake in OrthoPediatrics during the 4th quarter worth $268,000. Institutional investors and hedge funds own 69.05% of the company's stock.

OrthoPediatrics Price Performance

Shares of KIDS traded up $0.11 during trading hours on Thursday, reaching $20.55. The company had a trading volume of 30,763 shares, compared to its average volume of 219,308. The firm has a 50 day simple moving average of $22.27 and a 200-day simple moving average of $23.63. 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 company has a market capitalization of $499.10 million, a price-to-earnings ratio of -16.71 and a beta of 1.09. OrthoPediatrics Corp. has a 12-month low of $20.25 and a 12-month high of $35.99.

OrthoPediatrics (NASDAQ:KIDS - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.26) by ($0.13). The company had revenue of $52.41 million during the quarter, compared to analysts' expectations of $51.68 million. OrthoPediatrics had a negative net margin of 15.00% and a negative return on equity of 5.78%. Research analysts expect that OrthoPediatrics Corp. will post -0.93 earnings per share for the current year.

Insider Activity

In other OrthoPediatrics news, CEO David R. Bailey sold 6,620 shares of the firm'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 $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 trade represents a 2.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Gregory A. Odle sold 5,359 shares of the firm'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 $133,224.74. Following the transaction, the insider now owns 148,788 shares of the company's stock, valued at $3,698,869.68. This trade represents a 3.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,732 shares of company stock worth $589,978 in the last 90 days. 31.80% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on KIDS. Needham & Company LLC restated a "buy" rating and issued a $42.00 target price on shares of OrthoPediatrics in a research note on Thursday, May 8th. Lake Street Capital began coverage on shares of OrthoPediatrics in a research note on Monday, April 7th. They issued a "buy" rating and a $37.00 target price for the company. Stifel Nicolaus reduced their target price 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. Piper Sandler reduced their target price on shares of OrthoPediatrics from $40.00 to $30.00 and set an "overweight" rating for the company in a research note on Thursday, May 8th. Finally, Truist Financial reduced their target price on shares of OrthoPediatrics from $26.00 to $24.00 and set a "hold" rating for the company in a research note on Friday, April 11th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, OrthoPediatrics has an average rating of "Moderate Buy" and an average price target of $35.83.

Check Out Our Latest Analysis on KIDS

About OrthoPediatrics

(Free Report)

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.

See Also

Institutional Ownership by Quarter for OrthoPediatrics (NASDAQ:KIDS)

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