Wellington Management Group LLP Reduces Position in OrthoPediatrics Corp. $KIDS

Wellington Management Group LLP reduced its holdings in shares of OrthoPediatrics Corp. (NASDAQ:KIDS) by 10.5% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 794,309 shares of the company’s stock after selling 93,135 shares during the quarter. Wellington Management Group LLP’s holdings in OrthoPediatrics were worth $15,195,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Nantahala Capital Management LLC bought a new position in shares of OrthoPediatrics in the second quarter valued at approximately $4,636,002. Grandeur Peak Global Advisors LLC bought a new stake in shares of OrthoPediatrics during the 2nd quarter worth $954,000. Bank of America Corp DE purchased a new position in OrthoPediatrics in the second quarter worth $268,000. AWM Investment Company Inc. purchased a new position in OrthoPediatrics in the second quarter worth $4,537,000. Finally, ADAR1 Capital Management LLC bought a new position in shares of OrthoPediatrics during the 2nd quarter valued at about $478,000. Institutional investors own 69.05% of the company’s stock.

OrthoPediatrics Price Performance

KIDS stock opened at $22.41 on Tuesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 4.78 and a quick ratio of 2.17. The stock has a market capitalization of $585.13 million, a P/E ratio of -13.34 and a beta of 0.99. The business has a fifty day moving average price of $21.83 and a 200-day moving average price of $18.92. OrthoPediatrics Corp. has a 1-year low of $14.42 and a 1-year high of $26.74.

OrthoPediatrics (NASDAQ:KIDS) last announced its quarterly earnings results on Tuesday, August 4th. The company reported ($0.26) EPS for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.04. OrthoPediatrics had a negative net margin of 15.72% and a negative return on equity of 8.10%. The firm had revenue of $70.51 million during the quarter, compared to analyst estimates of $68.21 million. Equities analysts forecast that OrthoPediatrics Corp. will post -1.14 earnings per share for the current fiscal year.

Insider Buying and Selling at OrthoPediatrics

In other news, Director David Pelizzon sold 22,500 shares of the company’s stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $23.35, for a total transaction of $525,375.00. Following the completion of the sale, the director owned 6,504,133 shares of the company’s stock, valued at $151,871,505.55. This represents a 0.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Squadron Capital Llc sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $23.35, for a total transaction of $525,375.00. Following the sale, the insider owned 6,504,133 shares of the company’s stock, valued at $151,871,505.55. This trade represents a 0.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 1,192,893 shares of company stock worth $27,689,613 in the last three months. 32.50% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. TD Cowen reaffirmed a “buy” rating on shares of OrthoPediatrics in a report on Monday, June 15th. Needham & Company LLC upped their target price on OrthoPediatrics from $30.00 to $35.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Piper Sandler restated an “overweight” rating and issued a $25.00 price objective (up from $22.00) on shares of OrthoPediatrics in a report on Wednesday, August 5th. BTIG Research boosted their target price on shares of OrthoPediatrics from $24.00 to $29.00 and gave the company a “buy” rating in a report on Thursday, August 20th. Finally, Truist Financial set a $22.00 price objective on shares of OrthoPediatrics in a research note on Wednesday, August 5th. Nine analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $26.44.

OrthoPediatrics 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.