OrthoPediatrics (NASDAQ:KIDS) Price Target Raised to $29.00

OrthoPediatrics (NASDAQ:KIDS) had its target price hoisted by BTIG Research from $24.00 to $29.00 in a research note published on Thursday morning, Marketbeat Ratings reports. They currently have a buy rating on the stock.

Several other equities analysts have also recently weighed in on KIDS. Weiss Ratings raised OrthoPediatrics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, August 5th. Piper Sandler reissued an “overweight” rating and set a $25.00 target price (up from $22.00) on shares of OrthoPediatrics in a report on Wednesday, August 5th. Truist Financial set a $22.00 target price on OrthoPediatrics in a report on Wednesday, August 5th. Needham & Company LLC raised their price target on OrthoPediatrics from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Finally, Canaccord Genuity Group set a $25.00 price target on OrthoPediatrics in a research note on Friday, April 24th. 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 stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $26.44.

OrthoPediatrics Stock Down 2.2%

Shares of KIDS opened at $25.65 on Thursday. OrthoPediatrics has a 12 month low of $14.42 and a 12 month high of $26.74. The firm’s 50 day moving average is $20.85 and its 200-day moving average is $18.41. The stock has a market capitalization of $669.72 million, a PE ratio of -15.27 and a beta of 0.98. The company has a current ratio of 4.78, a quick ratio of 2.17 and a debt-to-equity ratio of 0.28.

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

Institutional Investors Weigh In On OrthoPediatrics

Several institutional investors and hedge funds have recently added to or reduced their stakes in KIDS. BlackRock Inc. acquired a new stake in shares of OrthoPediatrics in the 2nd quarter valued at $24,347,000. Millennium Management LLC raised its holdings in shares of OrthoPediatrics by 48.0% during the 4th quarter. Millennium Management LLC now owns 1,396,495 shares of the company’s stock worth $24,802,000 after buying an additional 452,840 shares in the last quarter. AIGH Capital Management LLC bought a new stake in shares of OrthoPediatrics during the 2nd quarter worth $5,161,000. Nantahala Capital Management LLC bought a new stake in shares of OrthoPediatrics during the 2nd quarter worth $4,636,002,000. Finally, AWM Investment Company Inc. bought a new stake in shares of OrthoPediatrics during the 2nd quarter worth $4,537,000. 69.05% of the stock is currently 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.