OrthoPediatrics (NASDAQ:KIDS) Trading 6.1% Higher After Analyst Upgrade


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OrthoPediatrics Corp. (NASDAQ:KIDS) shares traded up 6.1% during mid-day trading on Tuesday after Piper Sandler raised their price target on the stock from $55.00 to $62.00. The stock traded as high as $52.45 and last traded at $51.88. 1,516 shares changed hands during trading, a decline of 99% from the average session volume of 211,870 shares. The stock had previously closed at $48.88.

Separately, Zacks Investment Research downgraded shares of OrthoPediatrics from a “hold” rating to a “sell” rating in a report on Friday, March 12th. One research analyst has rated the stock with a sell rating and three have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $54.50.

In related news, CEO Mark C. Throdahl sold 7,349 shares of the company’s stock in a transaction dated Thursday, February 4th. The shares were sold at an average price of $50.18, for a total value of $368,772.82. Following the completion of the sale, the chief executive officer now owns 164,208 shares of the company’s stock, valued at $8,239,957.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Gregory A. Odle sold 8,193 shares of the company’s stock in a transaction dated Monday, March 1st. The stock was sold at an average price of $55.88, for a total transaction of $457,824.84. Following the completion of the sale, the executive vice president now directly owns 64,288 shares of the company’s stock, valued at approximately $3,592,413.44. The disclosure for this sale can be found here. Insiders sold 47,686 shares of company stock valued at $2,589,408 in the last ninety days. Corporate insiders own 33.60% of the company’s stock.

A number of institutional investors have recently modified their holdings of KIDS. BlackRock Inc. raised its position in OrthoPediatrics by 4.7% in the third quarter. BlackRock Inc. now owns 889,358 shares of the company’s stock worth $40,840,000 after acquiring an additional 40,156 shares in the last quarter. State Street Corp raised its position in OrthoPediatrics by 17.7% in the third quarter. State Street Corp now owns 364,061 shares of the company’s stock worth $16,718,000 after acquiring an additional 54,617 shares in the last quarter. JPMorgan Chase & Co. raised its position in OrthoPediatrics by 21.2% in the third quarter. JPMorgan Chase & Co. now owns 4,942 shares of the company’s stock worth $230,000 after acquiring an additional 866 shares in the last quarter. Great West Life Assurance Co. Can raised its position in OrthoPediatrics by 473.2% in the third quarter. Great West Life Assurance Co. Can now owns 6,179 shares of the company’s stock worth $685,000 after acquiring an additional 5,101 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in OrthoPediatrics by 128.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 106,831 shares of the company’s stock worth $4,906,000 after acquiring an additional 60,082 shares in the last quarter. Hedge funds and other institutional investors own 71.74% of the company’s stock.

The firm’s 50-day simple moving average is $50.21 and its 200 day simple moving average is $46.70. The stock has a market capitalization of $951.64 million, a P/E ratio of -33.62 and a beta of 0.67.

OrthoPediatrics (NASDAQ:KIDS) last issued its quarterly earnings results on Thursday, March 11th. The company reported ($0.73) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.46). OrthoPediatrics had a negative return on equity of 11.57% and a negative net margin of 34.26%. Equities research analysts expect that OrthoPediatrics Corp. will post -1.26 EPS for the current fiscal year.

About OrthoPediatrics (NASDAQ:KIDS)

OrthoPediatrics Corp., a medical device company, designs, develops, and markets anatomically appropriate implants and devices for the treatment of children with orthopedic conditions in the United States and internationally. The company offers trauma and deformity correction products; scoliosis procedures for the treatment of spinal deformity; and sports medicine and other products.

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