Granahan Investment Management LLC Cuts Holdings in OrthoPediatrics Corp. (NASDAQ:KIDS)

Granahan Investment Management LLC reduced its stake in OrthoPediatrics Corp. (NASDAQ:KIDS - Free Report) by 22.2% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 786,369 shares of the company's stock after selling 223,890 shares during the quarter. Granahan Investment Management LLC owned 3.25% of OrthoPediatrics worth $18,228,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in KIDS. R Squared Ltd purchased a new position in OrthoPediatrics during the 4th quarter valued at about $48,000. KLP Kapitalforvaltning AS purchased a new position in shares of OrthoPediatrics during the fourth quarter worth about $79,000. AlphaCentric Advisors LLC bought a new position in shares of OrthoPediatrics in the 4th quarter worth $171,000. Wells Fargo & Company MN grew its position in OrthoPediatrics by 31.1% in the fourth quarter. Wells Fargo & Company MN now owns 9,853 shares of the company's stock worth $228,000 after acquiring an additional 2,338 shares in the last quarter. Finally, HighTower Advisors LLC bought a new position in shares of OrthoPediatrics during the 4th quarter valued at about $268,000. Institutional investors own 69.05% of the company's stock.

Insider Transactions at OrthoPediatrics

In other news, General Counsel Daniel J. Gerritzen sold 5,310 shares of the company's stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $24.86, for a total value of $132,006.60. Following the completion of the transaction, the general counsel now owns 110,767 shares of the company's stock, valued at $2,753,667.62. This represents a 4.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO David R. Bailey sold 6,620 shares of OrthoPediatrics stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $24.86, for a total value of $164,573.20. Following the sale, the chief executive officer now directly owns 319,155 shares in the company, valued at $7,934,193.30. This trade represents a 2.03% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,732 shares of company stock worth $589,978 in the last 90 days. 32.70% of the stock is currently owned by insiders.

OrthoPediatrics Stock Performance

Shares of OrthoPediatrics stock traded down $0.05 during trading on Thursday, hitting $22.81. 34,267 shares of the company's stock traded hands, compared to its average volume of 196,050. OrthoPediatrics Corp. has a 1 year low of $20.25 and a 1 year high of $35.99. 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 business has a 50-day simple moving average of $22.94 and a 200-day simple moving average of $24.03. The stock has a market capitalization of $553.87 million, a P/E ratio of -18.54 and a beta of 1.09.

OrthoPediatrics (NASDAQ:KIDS - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.39) EPS for the quarter, missing analysts' consensus estimates of ($0.26) by ($0.13). The firm had revenue of $52.41 million for 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%. As a group, analysts forecast that OrthoPediatrics Corp. will post -0.93 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Stifel Nicolaus decreased their target price on shares of OrthoPediatrics from $40.00 to $32.00 and set a "buy" rating on the stock in a research note on Wednesday, March 5th. Needham & Company LLC reaffirmed a "buy" rating and issued a $42.00 target price on shares of OrthoPediatrics in a research report on Thursday, May 8th. Lake Street Capital started coverage on shares of OrthoPediatrics in a research report on Monday, April 7th. They set a "buy" rating and a $37.00 price target on the stock. Truist Financial cut their price objective on OrthoPediatrics from $26.00 to $24.00 and set a "hold" rating on the stock in a research report on Friday, April 11th. Finally, Piper Sandler decreased their target price on OrthoPediatrics from $40.00 to $30.00 and set an "overweight" rating for the company in a research report on Thursday, May 8th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $35.83.

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.