OrthoPediatrics (NASDAQ:KIDS) Shares Down 3.7% - Here's What Happened

Key Points

• OrthoPediatrics shares fell 3.7% to about $25.25 in mid-day trading, with volume down 38% from the stock’s average daily level.
• Analyst sentiment remains generally positive: nine analysts rate the stock a Buy, one a Hold and one a Sell, producing a consensus “Moderate Buy” rating and a $26.44 average price target. Recent targets ranged from $22 to $35.
• The company exceeded quarterly expectations, reporting an adjusted loss of $0.26 per share versus the expected $0.30 loss and revenue of $70.51 million versus the $68.21 million consensus estimate. Institutional investors own approximately 69.05% of the shares.

OrthoPediatrics Corp. (NASDAQ:KIDS - Get Free Report)'s share price dropped 3.7% during mid-day trading on Friday . The company traded as low as $25.23 and last traded at $25.25. 104,364 shares were traded during mid-day trading, a decline of 38% from the average daily volume of 168,822 shares. The stock had previously closed at $26.23.

Analyst Ratings Changes

A number of research firms have commented on KIDS. BTIG Research upped their price target on OrthoPediatrics from $24.00 to $29.00 and gave the company a "buy" rating in a research report on Thursday. Weiss Ratings upgraded OrthoPediatrics from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Wednesday, August 5th. Truist Financial set a $22.00 target price on OrthoPediatrics in a research note on Wednesday, August 5th. Piper Sandler reissued an "overweight" rating and set a $25.00 target price (up from $22.00) on shares of OrthoPediatrics in a research note on Wednesday, August 5th. Finally, Needham & Company LLC raised their price target on OrthoPediatrics from $30.00 to $35.00 and gave the stock a "buy" rating in a research note on Wednesday, August 5th. Nine investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $26.44.

OrthoPediatrics Trading Down 3.0%

The stock has a market cap of $664.50 million, a PE ratio of -15.15 and a beta of 0.98. The stock's fifty day moving average price is $20.70 and its 200 day moving average price is $18.36. The company has a quick ratio of 2.17, a current ratio of 4.78 and a debt-to-equity ratio of 0.28.

OrthoPediatrics (NASDAQ:KIDS - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The company reported ($0.26) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.30) by $0.04. The firm 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%. On average, sell-side analysts forecast that OrthoPediatrics Corp. will post -1.14 EPS for the current year.

Institutional Investors Weigh In On OrthoPediatrics

Large investors have recently made changes to their positions in the company. AIGH Capital Management LLC bought a new stake in OrthoPediatrics during the second quarter valued at about $5,161,000. Wasatch Advisors LP grew its stake in shares of OrthoPediatrics by 56.6% during the 2nd quarter. Wasatch Advisors LP now owns 515,677 shares of the company's stock valued at $9,865,000 after acquiring an additional 186,357 shares during the period. Roubaix Capital LLC grew its stake in shares of OrthoPediatrics by 23.8% during the 1st quarter. Roubaix Capital LLC now owns 290,047 shares of the company's stock valued at $4,603,000 after acquiring an additional 55,724 shares during the period. Granahan Investment Management LLC increased its holdings in OrthoPediatrics by 35.1% in the 1st quarter. Granahan Investment Management LLC now owns 896,741 shares of the company's stock worth $14,231,000 after acquiring an additional 232,760 shares in the last quarter. Finally, Paradigm Capital Management Inc. NY purchased a new stake in OrthoPediatrics in the 2nd quarter worth approximately $899,000. 69.05% of the stock is currently owned by institutional investors.

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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