OrthoPediatrics (NASDAQ:KIDS) Sees Large Volume Increase – Time to Buy?

Shares of OrthoPediatrics Corp. (NASDAQ:KIDS) saw unusually-strong trading volume on Thursday . Approximately 309,963 shares traded hands during mid-day trading, an increase of 80% from the previous session’s volume of 171,784 shares.The stock last traded at $22.0010 and had previously closed at $21.68.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on KIDS shares. Weiss Ratings raised shares of OrthoPediatrics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, August 5th. Piper Sandler restated an “overweight” rating and issued a $25.00 price target (up from $22.00) on shares of OrthoPediatrics in a research note on Wednesday, August 5th. BTIG Research raised their price objective on OrthoPediatrics from $24.00 to $29.00 and gave the company a “buy” rating in a research report on Thursday, August 20th. TD Cowen reiterated a “buy” rating on shares of OrthoPediatrics in a research note on Monday, June 15th. Finally, Truist Financial set a $22.00 target price on OrthoPediatrics in a report on Wednesday, August 5th. Nine analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, OrthoPediatrics has an average rating of “Moderate Buy” and an average target price of $26.44.

OrthoPediatrics Trading Down 0.7%

The firm’s 50 day moving average price is $21.94 and its 200-day moving average price is $18.99. The stock has a market cap of $562.25 million, a P/E ratio of -12.82 and a beta of 0.99. The company has a debt-to-equity ratio of 0.28, a current ratio of 4.78 and a quick ratio of 2.17.

OrthoPediatrics (NASDAQ:KIDS) last announced its quarterly earnings results on Tuesday, August 4th. The company reported ($0.26) earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $70.51 million during the quarter, compared to the consensus estimate of $68.21 million. As a group, equities research analysts forecast that OrthoPediatrics Corp. will post -1.14 earnings per share for the current year.

Insiders Place Their Bets

In related news, major shareholder Squadron Capital Llc sold 22,500 shares of the stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $23.35, for a total transaction of $525,375.00. Following the sale, the insider directly 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director David R. Pelizzon sold 22,500 shares of OrthoPediatrics stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $23.35, for a total value 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. The trade was a 0.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 1,192,893 shares of company stock valued at $27,689,613. Corporate insiders own 32.50% of the company’s stock.

Hedge Funds Weigh In On OrthoPediatrics

Several hedge funds and other institutional investors have recently bought and sold shares of KIDS. BlackRock Inc. purchased a new stake in OrthoPediatrics during the 2nd quarter valued at $24,347,000. Millennium Management LLC grew its holdings in shares of OrthoPediatrics by 48.0% in the fourth quarter. Millennium Management LLC now owns 1,396,495 shares of the company’s stock worth $24,802,000 after acquiring an additional 452,840 shares during the period. AIGH Capital Management LLC bought a new stake in shares of OrthoPediatrics in the second quarter worth $5,161,000. Nantahala Capital Management LLC purchased a new stake in OrthoPediatrics during the second quarter valued at $4,636,002. Finally, AWM Investment Company Inc. purchased a new stake in OrthoPediatrics during the second quarter valued at $4,537,000. Institutional investors own 69.05% of the company’s stock.

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.