OrthoPediatrics (NASDAQ:KIDS) Sets New 1-Year High - Here's Why

OrthoPediatrics Corp. (NASDAQ:KIDS - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $24.56 and last traded at $24.24, with a volume of 231374 shares changing hands. The stock had previously closed at $23.28.

Analyst Upgrades and Downgrades

Several research analysts have commented on KIDS shares. Canaccord Genuity Group set a $25.00 target price on shares of OrthoPediatrics in a research report on Friday, April 24th. Weiss Ratings upgraded OrthoPediatrics from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Wednesday, August 5th. Needham & Company LLC increased their price objective on OrthoPediatrics from $30.00 to $35.00 and gave the stock a "buy" rating in a report on Wednesday, August 5th. BTIG Research restated a "buy" rating and issued a $24.00 target price on shares of OrthoPediatrics in a research report on Friday, May 1st. Finally, TD Cowen reaffirmed a "buy" rating on shares of OrthoPediatrics in a research note on Monday, June 15th. 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 company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $25.89.

OrthoPediatrics Stock Performance

The stock has a market cap of $632.91 million, a price-to-earnings ratio of -14.43 and a beta of 0.98. The company's 50 day simple moving average is $19.67 and its 200 day simple moving average is $17.98. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.17 and a current ratio of 4.78.

OrthoPediatrics (NASDAQ:KIDS - Get Free Report) last issued its quarterly 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 company had revenue of $70.51 million during the quarter, compared to analyst estimates of $68.21 million. OrthoPediatrics had a negative net margin of 15.72% and a negative return on equity of 8.10%. On average, equities research analysts anticipate that OrthoPediatrics Corp. will post -1.14 earnings per share for the current year.

Hedge Funds Weigh In On OrthoPediatrics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of OrthoPediatrics by 6.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,995 shares of the company's stock worth $246,000 after buying an additional 645 shares in the last quarter. Millennium Management LLC boosted its stake in OrthoPediatrics by 55.3% during the first quarter. Millennium Management LLC now owns 656,578 shares of the company's stock valued at $16,172,000 after buying an additional 233,873 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in OrthoPediatrics by 112.3% during the first quarter. Goldman Sachs Group Inc. now owns 200,439 shares of the company's stock worth $4,937,000 after acquiring an additional 106,041 shares during the period. Jane Street Group LLC acquired a new position in OrthoPediatrics during the first quarter worth about $389,000. Finally, American Century Companies Inc. raised its position in OrthoPediatrics by 12.5% in the second quarter. American Century Companies Inc. now owns 34,486 shares of the company's stock worth $741,000 after acquiring an additional 3,828 shares in the last quarter. 69.05% of the stock is owned by institutional investors.

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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