OrthoPediatrics (NASDAQ:KIDS) Price Target Raised to $35.00

OrthoPediatrics (NASDAQ:KIDS) had its price objective hoisted by Needham & Company LLC from $30.00 to $35.00 in a report released on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Several other research analysts also recently weighed in on the stock. BTIG Research restated a “buy” rating and issued a $24.00 target price on shares of OrthoPediatrics in a research note on Friday, May 1st. Canaccord Genuity Group set a $25.00 price objective on shares of OrthoPediatrics in a report on Friday, April 24th. TD Cowen reissued a “buy” rating on shares of OrthoPediatrics in a research report on Monday, June 15th. Weiss Ratings restated a “sell (e+)” rating on shares of OrthoPediatrics in a research note on Friday, July 17th. Finally, Truist Financial lifted their target price on OrthoPediatrics from $17.00 to $20.00 and gave the stock a “hold” rating in a research report on Thursday, July 16th. Nine research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $25.89.

OrthoPediatrics Stock Performance

OrthoPediatrics stock opened at $22.77 on Wednesday. The stock’s 50-day moving average is $19.39 and its 200-day moving average is $17.91. The company has a market cap of $594.52 million, a price-to-earnings ratio of -13.55 and a beta of 0.98. The company has a debt-to-equity ratio of 0.28, a current ratio of 4.78 and a quick ratio of 2.37. OrthoPediatrics has a 12 month low of $14.42 and a 12 month high of $23.17.

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

Hedge Funds Weigh In On OrthoPediatrics

Several institutional investors have recently made changes to their positions in KIDS. Roubaix Capital LLC increased its holdings in shares of OrthoPediatrics by 23.8% during the first quarter. Roubaix Capital LLC now owns 290,047 shares of the company’s stock valued at $4,603,000 after purchasing an additional 55,724 shares during the period. Granahan Investment Management LLC lifted its holdings in OrthoPediatrics by 35.1% in the first quarter. Granahan Investment Management LLC now owns 896,741 shares of the company’s stock worth $14,231,000 after purchasing an additional 232,760 shares during the period. Wasatch Advisors LP grew its position in OrthoPediatrics by 13.6% in the 1st quarter. Wasatch Advisors LP now owns 329,320 shares of the company’s stock valued at $5,226,000 after buying an additional 39,451 shares in the last quarter. AIGH Capital Management LLC bought a new position in OrthoPediatrics in the 2nd quarter valued at about $5,161,000. Finally, Quantinno Capital Management LP acquired a new position in OrthoPediatrics during the 1st quarter valued at about $160,000. 69.05% of the stock is 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.