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

Needham & Company LLC reiterated their buy rating on shares of OrthoPediatrics (NASDAQ:KIDS - Free Report) in a research note published on Thursday morning,Benzinga reports. Needham & Company LLC currently has a $42.00 price objective on the stock.

Other equities research analysts also recently issued research reports about the company. Stifel Nicolaus cut their price objective on OrthoPediatrics from $40.00 to $32.00 and set a "buy" rating for the company in a research report on Wednesday, March 5th. Truist Financial decreased their price target on OrthoPediatrics from $26.00 to $24.00 and set a "hold" rating for the company in a research report on Friday, April 11th. Finally, Lake Street Capital assumed coverage on OrthoPediatrics in a report on Monday, April 7th. They set a "buy" rating and a $37.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $35.83.

OrthoPediatrics Price Performance

Shares of KIDS stock traded down $1.04 during mid-day trading on Thursday, hitting $22.04. 130,348 shares of the stock traded hands, compared to its average volume of 196,870. OrthoPediatrics has a twelve month low of $20.25 and a twelve month high of $35.99. The company has a debt-to-equity ratio of 0.19, a quick ratio of 3.68 and a current ratio of 7.17. The company's 50-day simple moving average is $23.08 and its 200-day simple moving average is $24.07. The firm has a market cap of $535.29 million, a price-to-earnings ratio of -17.92 and a beta of 1.09.

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

Insiders Place Their Bets

In other OrthoPediatrics news, CFO Fred Hite sold 6,443 shares of the 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 $160,172.98. Following the completion of the sale, the chief financial officer now owns 207,989 shares in the company, valued at $5,170,606.54. This represents a 3.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Daniel J. Gerritzen sold 5,310 shares of the business'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 $132,006.60. Following the transaction, the general counsel now owns 110,767 shares in the company, valued at approximately $2,753,667.62. This represents a 4.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,732 shares of company stock worth $589,978. 32.70% of the stock is currently owned by company insiders.

Institutional Trading of OrthoPediatrics

Institutional investors have recently bought and sold shares of the company. Invesco Ltd. lifted its holdings in shares of OrthoPediatrics by 3.0% during the 4th quarter. Invesco Ltd. now owns 16,363 shares of the company's stock valued at $379,000 after buying an additional 469 shares during the last quarter. Northern Trust Corp grew its position in OrthoPediatrics by 0.3% in the fourth quarter. Northern Trust Corp now owns 193,798 shares of the company's stock worth $4,492,000 after acquiring an additional 644 shares in the last quarter. Rhumbline Advisers grew its position in OrthoPediatrics by 4.1% in the fourth quarter. Rhumbline Advisers now owns 26,411 shares of the company's stock worth $612,000 after acquiring an additional 1,042 shares in the last quarter. R Squared Ltd acquired a new position in shares of OrthoPediatrics during the 4th quarter worth $48,000. Finally, Bank of New York Mellon Corp raised its holdings in shares of OrthoPediatrics by 3.8% during the 4th quarter. Bank of New York Mellon Corp now owns 57,710 shares of the company's stock valued at $1,338,000 after purchasing an additional 2,099 shares in the last quarter. Institutional investors and hedge funds own 69.05% of the company's stock.

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.