Truist Financial Trims OrthoPediatrics (NASDAQ:KIDS) Target Price to $28.00

OrthoPediatrics (NASDAQ:KIDS) had its target price lowered by stock analysts at Truist Financial from $34.00 to $28.00 in a report issued on Monday, Benzinga reports. The brokerage currently has a “hold” rating on the stock. Truist Financial’s target price suggests a potential upside of 13.45% from the stock’s previous close.

Several other equities research analysts have also recently commented on the stock. Needham & Company LLC reiterated a “buy” rating and set a $42.00 price target on shares of OrthoPediatrics in a research report on Friday, September 13th. JMP Securities reiterated a “market outperform” rating and set a $50.00 price target on shares of OrthoPediatrics in a research report on Friday, September 13th.

OrthoPediatrics Price Performance

KIDS traded up $0.07 during midday trading on Monday, hitting $24.68. The company had a trading volume of 6,976 shares, compared to its average volume of 167,207. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.96 and a current ratio of 4.90. The company has a market capitalization of $588.10 million, a PE ratio of -25.76 and a beta of 1.17. OrthoPediatrics has a twelve month low of $23.10 and a twelve month high of $36.23. The firm’s 50-day simple moving average is $28.51 and its 200-day simple moving average is $30.13.

OrthoPediatrics (NASDAQ:KIDS) last posted its quarterly earnings data on Monday, August 5th. The company reported ($0.23) earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.08. The firm had revenue of $52.80 million during the quarter, compared to analysts’ expectations of $52.40 million. OrthoPediatrics had a negative net margin of 14.35% and a negative return on equity of 5.44%. Equities research analysts predict that OrthoPediatrics will post -0.92 EPS for the current fiscal year.

Insider Transactions at OrthoPediatrics

In other news, General Counsel Daniel J. Gerritzen sold 10,000 shares of OrthoPediatrics stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $29.30, for a total transaction of $293,000.00. Following the completion of the sale, the general counsel now owns 77,304 shares in the company, valued at $2,265,007.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 31.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of KIDS. Wellington Management Group LLP acquired a new position in OrthoPediatrics during the fourth quarter valued at approximately $10,214,000. Wasatch Advisors LP grew its holdings in OrthoPediatrics by 21.2% during the first quarter. Wasatch Advisors LP now owns 501,310 shares of the company’s stock valued at $14,618,000 after purchasing an additional 87,657 shares during the period. BNP Paribas Financial Markets grew its holdings in OrthoPediatrics by 85.1% during the first quarter. BNP Paribas Financial Markets now owns 12,414 shares of the company’s stock valued at $362,000 after purchasing an additional 5,707 shares during the period. Quantbot Technologies LP lifted its stake in OrthoPediatrics by 180.8% in the first quarter. Quantbot Technologies LP now owns 7,091 shares of the company’s stock valued at $207,000 after buying an additional 4,566 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System bought a new position in OrthoPediatrics in the first quarter valued at approximately $178,000. Institutional investors and hedge funds own 69.05% of the company’s stock.

About OrthoPediatrics

OrthoPediatrics Corp., a medical device company, engages in designing, developing, and marketing anatomically appropriate implants, instruments, and specialized braces for children with orthopedic conditions in the United States and internationally. The company offers pediatric trauma and deformity correction products; scoliosis procedures for the treatment of spinal deformity; and sports medicine and other products.