OrthoPediatrics (NASDAQ:KIDS) Sets New 12-Month High on Analyst Upgrade

Key Points

• OrthoPediatrics shares reached a new 52-week high after Needham raised its price target from $30 to $35 while maintaining a Buy rating. The stock traded as high as $23.11, and analysts’ consensus rating is “Moderate Buy” with a $25.89 target.
• Institutional investors hold 69.05% of the company, with several hedge funds—including Millennium Management, Granahan Investment Management and Wasatch Advisors—recently increasing their positions.
• OrthoPediatrics beat quarterly expectations, reporting an adjusted loss of $0.26 per share versus the $0.30 consensus estimate and revenue of $70.51 million versus $68.21 million expected. The company remains unprofitable, with a negative net margin of 15.72%.

Shares of OrthoPediatrics Corp. (NASDAQ:KIDS - Get Free Report) reached a new 52-week high during mid-day trading on Thursday after Needham & Company LLC raised their price target on the stock from $30.00 to $35.00. Needham & Company LLC currently has a buy rating on the stock. OrthoPediatrics traded as high as $23.11 and last traded at $22.81, with a volume of 19242 shares traded. The stock had previously closed at $22.31.

A number of other research analysts have also issued reports on the company. Truist Financial increased their target price on OrthoPediatrics from $17.00 to $20.00 and gave the company a "hold" rating in a research report on Thursday, July 16th. TD Cowen restated a "buy" rating on shares of OrthoPediatrics in a research report on Monday, June 15th. Canaccord Genuity Group set a $25.00 price objective on shares of OrthoPediatrics in a report on Friday, April 24th. Weiss Ratings reiterated a "sell (e+)" rating on shares of OrthoPediatrics in a research report on Friday, July 17th. Finally, BTIG Research reissued a "buy" rating and set a $24.00 target price on shares of OrthoPediatrics in a research note on Friday, May 1st. 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 data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $25.89.

Institutional Trading of OrthoPediatrics

Several hedge funds have recently made changes to their positions in the company. Millennium Management LLC raised its position in shares of OrthoPediatrics by 48.0% during the 4th quarter. Millennium Management LLC now owns 1,396,495 shares of the company's stock valued at $24,802,000 after buying an additional 452,840 shares during the period. Vanguard Group Inc. increased its stake in OrthoPediatrics by 1.1% during the third quarter. Vanguard Group Inc. now owns 961,330 shares of the company's stock worth $17,813,000 after acquiring an additional 10,927 shares during the last quarter. Granahan Investment Management LLC raised its position in OrthoPediatrics by 35.1% in the first quarter. Granahan Investment Management LLC now owns 896,741 shares of the company's stock valued at $14,231,000 after purchasing an additional 232,760 shares during the period. Wasatch Advisors LP lifted its stake in shares of OrthoPediatrics by 56.6% in the 2nd quarter. Wasatch Advisors LP now owns 515,677 shares of the company's stock valued at $9,865,000 after purchasing an additional 186,357 shares during the last quarter. Finally, Marshall Wace LLP grew its holdings in shares of OrthoPediatrics by 6.0% during the 3rd quarter. Marshall Wace LLP now owns 444,320 shares of the company's stock worth $8,233,000 after purchasing an additional 25,191 shares during the period. Hedge funds and other institutional investors own 69.05% of the company's stock.

OrthoPediatrics Stock Up 1.9%

The business has a 50-day moving average of $19.18 and a 200-day moving average of $17.84. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.37 and a current ratio of 5.21. The stock has a market capitalization of $583.63 million, a price-to-earnings ratio of -13.57 and a beta of 0.98.

OrthoPediatrics (NASDAQ:KIDS - Get Free Report) last posted 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 company had revenue of $70.51 million for the quarter, compared to analysts' expectations of $68.21 million. OrthoPediatrics had a negative net margin of 15.72% and a negative return on equity of 8.10%. On average, sell-side analysts expect that OrthoPediatrics Corp. will post -1.13 EPS for the current year.

About OrthoPediatrics

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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