OrthoPediatrics (NASDAQ:KIDS) Upgraded by TD Cowen to “Strong-Buy” Rating

TD Cowen upgraded shares of OrthoPediatrics (NASDAQ:KIDS) to a strong-buy rating in a research report sent to investors on Tuesday morning,Zacks.com reports.

A number of other equities research analysts also recently issued reports on the stock. Canaccord Genuity Group started coverage on shares of OrthoPediatrics in a research note on Wednesday, December 10th. They issued a “buy” rating and a $24.00 price target on the stock. Truist Financial set a $18.00 target price on OrthoPediatrics in a research report on Friday, October 10th. Citigroup restated an “outperform” rating on shares of OrthoPediatrics in a research note on Friday, October 10th. Piper Sandler lowered their price target on OrthoPediatrics from $30.00 to $22.00 and set an “overweight” rating for the company in a research report on Friday, October 10th. Finally, Needham & Company LLC cut their price objective on OrthoPediatrics from $42.00 to $26.00 and set a “buy” rating on the stock in a report on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $23.89.

OrthoPediatrics Trading Down 2.2%

Shares of NASDAQ KIDS traded down $0.39 during mid-day trading on Tuesday, reaching $17.35. 37,107 shares of the company’s stock were exchanged, compared to its average volume of 165,651. The company’s 50-day moving average is $18.06 and its 200-day moving average is $18.80. The company has a debt-to-equity ratio of 0.28, a quick ratio of 3.52 and a current ratio of 7.40. The firm has a market capitalization of $435.14 million, a price-to-earnings ratio of -8.93 and a beta of 1.09. OrthoPediatrics has a 52-week low of $15.28 and a 52-week high of $26.40.

OrthoPediatrics (NASDAQ:KIDS) last issued its quarterly earnings data on Tuesday, October 28th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.26) by $0.02. The firm had revenue of $61.25 million for the quarter, compared to analyst estimates of $63.63 million. OrthoPediatrics had a negative net margin of 20.06% and a negative return on equity of 6.86%. Analysts expect that OrthoPediatrics will post -0.93 EPS for the current fiscal year.

Institutional Trading of OrthoPediatrics

Large investors have recently made changes to their positions in the company. Tudor Investment Corp ET AL lifted its stake in OrthoPediatrics by 36.6% in the third quarter. Tudor Investment Corp ET AL now owns 70,935 shares of the company’s stock worth $1,314,000 after acquiring an additional 19,004 shares during the last quarter. Nantahala Capital Management LLC purchased a new stake in shares of OrthoPediatrics in the 3rd quarter valued at approximately $916,000. Millennium Management LLC raised its holdings in shares of OrthoPediatrics by 20.8% in the 3rd quarter. Millennium Management LLC now owns 943,655 shares of the company’s stock valued at $17,486,000 after purchasing an additional 162,628 shares in the last quarter. Aquatic Capital Management LLC raised its holdings in shares of OrthoPediatrics by 149.7% in the 3rd quarter. Aquatic Capital Management LLC now owns 17,729 shares of the company’s stock valued at $329,000 after purchasing an additional 10,629 shares in the last quarter. Finally, Deerfield Management Company L.P. lifted its position in shares of OrthoPediatrics by 1,153.4% during the 3rd quarter. Deerfield Management Company L.P. now owns 194,109 shares of the company’s stock worth $3,597,000 after purchasing an additional 178,623 shares during the last quarter. 69.05% of the stock is currently owned by hedge funds and other 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.