Bank of New York Mellon Corp Buys New Stake in OrthoPediatrics Corp. $KIDS

Key Points

• Bank of New York Mellon acquired 51,848 OrthoPediatrics shares worth approximately $992,000, while institutional investors collectively own 69.05% of the company.
• Analyst sentiment remains positive, with nine Buy ratings, one Hold, and one Sell; the consensus rating is Moderate Buy with an average price target of $26.44.
• OrthoPediatrics exceeded quarterly expectations, reporting revenue of $70.51 million and an adjusted loss of $0.26 per share, though insiders sold roughly $34.0 million of stock over the past 90 days.

Bank of New York Mellon Corp acquired a new stake in shares of OrthoPediatrics Corp. (NASDAQ:KIDS - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 51,848 shares of the company's stock, valued at approximately $992,000. Bank of New York Mellon Corp owned about 0.20% of OrthoPediatrics as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of KIDS. Wasatch Advisors LP lifted its holdings in shares of OrthoPediatrics by 56.6% during the 2nd quarter. Wasatch Advisors LP now owns 515,677 shares of the company's stock worth $9,865,000 after acquiring an additional 186,357 shares during the period. Roubaix Capital LLC increased its holdings in OrthoPediatrics by 23.8% in the 1st quarter. Roubaix Capital LLC now owns 290,047 shares of the company's stock valued at $4,603,000 after purchasing an additional 55,724 shares in the last quarter. Granahan Investment Management LLC raised its holdings in shares of OrthoPediatrics by 35.1% during the 1st quarter. Granahan Investment Management LLC now owns 896,741 shares of the company's stock valued at $14,231,000 after buying an additional 232,760 shares during the period. R Squared Ltd purchased a new stake in shares of OrthoPediatrics during the first quarter valued at approximately $212,000. Finally, Triodos Investment Management BV lifted its holdings in OrthoPediatrics by 10.9% in the 4th quarter. Triodos Investment Management BV now owns 147,000 shares of the company's stock worth $2,640,000 after buying an additional 14,500 shares in the last quarter. 69.05% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

KIDS has been the subject of several research analyst reports. BTIG Research increased their target price on OrthoPediatrics from $24.00 to $29.00 and gave the company a "buy" rating in a research note on Thursday, August 20th. Needham & Company LLC raised their price target on OrthoPediatrics from $30.00 to $35.00 and gave the stock a "buy" rating in a report on Wednesday, August 5th. Truist Financial set a $22.00 target price on shares of OrthoPediatrics in a research report on Wednesday, August 5th. Piper Sandler reiterated an "overweight" rating and set a $25.00 price objective (up from $22.00) on shares of OrthoPediatrics in a research report on Wednesday, August 5th. Finally, Weiss Ratings raised shares of OrthoPediatrics from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Wednesday, August 5th. Nine investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $26.44.

Insiders Place Their Bets

In other OrthoPediatrics news, major shareholder Squadron Capital Llc sold 22,500 shares of the firm's stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $23.35, for a total value of $525,375.00. Following the sale, the insider directly owned 6,504,133 shares in the company, valued at $151,871,505.55. This trade represents a 0.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Jennifer Pritzker sold 22,500 shares of OrthoPediatrics stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $23.35, for a total value of $525,375.00. Following the sale, the insider directly owned 6,504,133 shares in the company, valued at approximately $151,871,505.55. This trade represents a 0.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 1,495,262 shares of company stock worth $34,042,386 in the last ninety days. Insiders own 32.50% of the company's stock.

OrthoPediatrics Price Performance

Shares of OrthoPediatrics stock opened at $21.56 on Friday. The company has a current ratio of 4.78, a quick ratio of 2.17 and a debt-to-equity ratio of 0.28. OrthoPediatrics Corp. has a 1-year low of $14.42 and a 1-year high of $26.74. The firm has a fifty day simple moving average of $21.97 and a 200-day simple moving average of $19.02. The stock has a market capitalization of $562.93 million, a price-to-earnings ratio of -12.83 and a beta of 0.99.

OrthoPediatrics (NASDAQ:KIDS - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The company reported ($0.26) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.30) by $0.04. The company had revenue of $70.51 million for the quarter, compared to the consensus estimate of $68.21 million. OrthoPediatrics had a negative return on equity of 8.10% and a negative net margin of 15.72%. On average, sell-side analysts expect that OrthoPediatrics Corp. will post -1.14 earnings per share for the current year.

About OrthoPediatrics

OrthoPediatrics Corp., founded in 2007 and headquartered in Warsaw, Indiana, is a medical device company dedicated exclusively to providing orthopedic solutions for children. The company focuses on developing, manufacturing and marketing a broad portfolio of implants and instruments designed to address a wide range of pediatric conditions, including trauma, deformity correction, spine disorders and sports injuries.

The company's product lines include locking plates and screws for upper and lower extremity reconstruction, intramedullary nails for femur and tibia stabilization, and specialized systems such as the MAGEC Magnetic Growth Rod for treatment of early-onset scoliosis.

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