OrthoPediatrics (NASDAQ:KIDS) Director David Pelizzon Sells 326,700 Shares

Key Points

• Director David Pelizzon sold 326,700 OrthoPediatrics shares at an average price of $23.04, generating approximately $7.53 million. His remaining stake totals 6.54 million shares, worth about $150.6 million.
• OrthoPediatrics shares traded near $23, while the company reported better-than-expected quarterly results, with revenue of $70.51 million and a loss of $0.26 per share versus the expected $0.30 loss.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and an average price target of $26.44; BTIG recently raised its target to $29. Institutional investors own approximately 69.05% of the company.

OrthoPediatrics Corp. (NASDAQ:KIDS - Get Free Report) Director David Pelizzon sold 326,700 shares of the firm's stock in a transaction on Friday, August 28th. The stock was sold at an average price of $23.04, for a total transaction of $7,527,168.00. Following the completion of the sale, the director owned 6,536,764 shares in the company, valued at approximately $150,607,042.56. The trade was a 4.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

OrthoPediatrics Stock Performance

Shares of KIDS traded down $0.31 during trading hours on Tuesday, reaching $23.00. 139,797 shares of the company traded hands, compared to its average volume of 173,766. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.17 and a current ratio of 4.78. The stock's fifty day moving average is $21.52 and its 200 day moving average is $18.72. OrthoPediatrics Corp. has a 1-year low of $14.42 and a 1-year high of $26.74. The stock has a market cap of $600.53 million, a P/E ratio of -13.69 and a beta of 0.98.

OrthoPediatrics (NASDAQ:KIDS - Get Free Report) last released its earnings results on Tuesday, August 4th. The company reported ($0.26) earnings per share for the quarter, topping analysts' consensus estimates of ($0.30) by $0.04. The business 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%. Equities research analysts anticipate that OrthoPediatrics Corp. will post -1.14 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently commented on KIDS. Piper Sandler restated an "overweight" rating and issued a $25.00 target price (up from $22.00) on shares of OrthoPediatrics in a research note on Wednesday, August 5th. Weiss Ratings upgraded shares of OrthoPediatrics from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Wednesday, August 5th. TD Cowen reissued a "buy" rating on shares of OrthoPediatrics in a report on Monday, June 15th. Truist Financial set a $22.00 price objective on shares of OrthoPediatrics in a research note on Wednesday, August 5th. Finally, BTIG Research raised their price objective on shares of OrthoPediatrics from $24.00 to $29.00 and gave the stock a "buy" rating in a report on Thursday, August 20th. Nine investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, OrthoPediatrics has a consensus rating of "Moderate Buy" and a consensus price target of $26.44.

Hedge Funds Weigh In On OrthoPediatrics

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Russell Investments Group Ltd. raised its stake in OrthoPediatrics by 433.1% during the third quarter. Russell Investments Group Ltd. now owns 1,402 shares of the company's stock worth $26,000 after acquiring an additional 1,139 shares in the last quarter. Legal & General Group Plc bought a new stake in shares of OrthoPediatrics in the 2nd quarter worth about $34,000. Northwestern Mutual Wealth Management Co. grew its stake in OrthoPediatrics by 5,226.5% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,610 shares of the company's stock worth $46,000 after buying an additional 2,561 shares during the last quarter. Caption Management LLC acquired a new stake in shares of OrthoPediatrics during the third quarter worth approximately $54,000. Finally, BNP Paribas Financial Markets raised its stake in shares of OrthoPediatrics by 60.2% in the third quarter. BNP Paribas Financial Markets now owns 3,288 shares of the company's stock valued at $61,000 after acquiring an additional 1,235 shares during the last quarter. Institutional investors own 69.05% of the company's stock.

OrthoPediatrics Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source