OrthoPediatrics (NASDAQ:KIDS) Given New $35.00 Price Target at Needham & Company LLC

Key Points

• Needham raised OrthoPediatrics’ price target to $35 from $30 while maintaining a “Buy” rating, implying 67.62% upside from the prior close.
• Analyst sentiment is broadly positive, with nine Buy ratings, one Hold and one Sell; the consensus rating is “Moderate Buy” with an average price target of $25.33.
• OrthoPediatrics beat quarterly expectations, reporting a loss of $0.26 per share versus the $0.30 consensus estimate and revenue of $70.51 million versus $68.21 million expected. Institutional investors own 69.05% of the company.

OrthoPediatrics (NASDAQ:KIDS - Get Free Report) had its price objective hoisted by analysts at Needham & Company LLC from $30.00 to $35.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the stock. Needham & Company LLC's target price would indicate a potential upside of 67.62% from the company's previous close.

Several other brokerages have also recently weighed in on KIDS. Canaccord Genuity Group set a $25.00 target price on OrthoPediatrics in a report on Friday, April 24th. Truist Financial upped their target price on OrthoPediatrics from $17.00 to $20.00 and gave the company a "hold" rating in a report on Thursday, July 16th. TD Cowen reiterated a "buy" rating on shares of OrthoPediatrics in a report on Monday, June 15th. BTIG Research restated a "buy" rating and set a $24.00 price objective on shares of OrthoPediatrics in a research report on Friday, May 1st. Finally, Weiss Ratings reissued a "sell (e+)" rating on shares of OrthoPediatrics in a research note on Friday, July 17th. Nine research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, OrthoPediatrics presently has a consensus rating of "Moderate Buy" and an average price target of $25.33.

OrthoPediatrics Trading Up 0.0%

Shares of KIDS opened at $20.88 on Wednesday. OrthoPediatrics has a 52-week low of $14.42 and a 52-week high of $22.80. The stock has a market cap of $536.20 million, a PE ratio of -12.43 and a beta of 0.98. The firm's fifty day moving average is $19.08 and its two-hundred day moving average is $17.82. The company has a quick ratio of 2.37, a current ratio of 5.21 and a debt-to-equity ratio of 0.29.

OrthoPediatrics (NASDAQ:KIDS - Get Free Report) last issued its earnings results on Tuesday, August 4th. The company reported ($0.26) EPS for the quarter, beating analysts' consensus estimates of ($0.30) by $0.04. The business had revenue of $70.51 million during the quarter, compared to analysts' expectations of $68.21 million. OrthoPediatrics had a negative net margin of 16.31% and a negative return on equity of 7.01%. Research analysts forecast that OrthoPediatrics will post -1.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On OrthoPediatrics

Institutional investors have recently modified their holdings of the business. Russell Investments Group Ltd. grew its position in shares of 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 buying an additional 1,139 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings 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 purchasing an additional 2,561 shares in the last quarter. Caption Management LLC acquired a new position in OrthoPediatrics in the third quarter valued at $54,000. BNP Paribas Financial Markets raised its position in OrthoPediatrics by 60.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 3,288 shares of the company's stock valued at $61,000 after purchasing an additional 1,235 shares during the last quarter. Finally, State of Wyoming increased its position in OrthoPediatrics by 189.7% in the 4th quarter. State of Wyoming now owns 6,822 shares of the company's stock valued at $121,000 after acquiring an additional 4,467 shares during the period. Institutional investors and hedge funds 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.

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