Truist Financial Cuts OrthoPediatrics (NASDAQ:KIDS) Price Target to $24.00

OrthoPediatrics (NASDAQ:KIDS) had its price objective lowered by Truist Financial from $26.00 to $24.00 in a research report released on Friday morning,Benzinga reports. Truist Financial currently has a hold rating on the stock.

KIDS has been the subject of several other reports. Stifel Nicolaus cut their price objective on shares of OrthoPediatrics from $40.00 to $32.00 and set a “buy” rating for the company in a research report on Wednesday, March 5th. Lake Street Capital began coverage on shares of OrthoPediatrics in a research report on Monday, April 7th. They set a “buy” rating and a $37.00 price target on the stock. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $42.00 price objective on shares of OrthoPediatrics in a research report on Wednesday, April 9th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, OrthoPediatrics has a consensus rating of “Moderate Buy” and a consensus target price of $37.00.

OrthoPediatrics Stock Down 1.1 %

KIDS opened at $21.16 on Friday. The company has a market cap of $513.91 million, a PE ratio of -17.20 and a beta of 1.17. OrthoPediatrics has a twelve month low of $20.78 and a twelve month high of $35.99. The company has a 50-day moving average price of $24.14 and a 200 day moving average price of $24.72. The company has a quick ratio of 3.68, a current ratio of 7.17 and a debt-to-equity ratio of 0.19.

OrthoPediatrics (NASDAQ:KIDS) last posted its quarterly earnings data on Tuesday, March 4th. The company reported ($0.29) EPS for the quarter, beating the consensus estimate of ($0.33) by $0.04. OrthoPediatrics had a negative return on equity of 5.78% and a negative net margin of 15.00%. The firm had revenue of $52.67 million during the quarter, compared to the consensus estimate of $51.16 million. During the same period in the prior year, the company earned ($0.23) EPS. Sell-side analysts expect that OrthoPediatrics will post -0.93 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO David R. Bailey sold 6,620 shares of the business’s stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $24.86, for a total value of $164,573.20. Following the sale, the chief executive officer now owns 319,155 shares in the company, valued at approximately $7,934,193.30. The trade was a 2.03 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Fred Hite sold 6,443 shares of the stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $24.86, for a total value of $160,172.98. Following the transaction, the chief financial officer now directly owns 207,989 shares in the company, valued at approximately $5,170,606.54. The trade was a 3.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,732 shares of company stock worth $589,978 over the last ninety days. Corporate insiders own 31.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in KIDS. Charles Schwab Investment Management Inc. grew its stake in shares of OrthoPediatrics by 2.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 132,434 shares of the company’s stock worth $3,590,000 after acquiring an additional 2,661 shares in the last quarter. BNP Paribas Financial Markets grew its stake in OrthoPediatrics by 125.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 3,471 shares of the company’s stock worth $94,000 after purchasing an additional 1,929 shares in the last quarter. Quarry LP purchased a new stake in OrthoPediatrics during the 3rd quarter worth about $25,000. State Street Corp raised its position in OrthoPediatrics by 1.0% in the 3rd quarter. State Street Corp now owns 417,898 shares of the company’s stock valued at $11,329,000 after purchasing an additional 4,236 shares in the last quarter. Finally, Wellington Management Group LLP boosted its stake in shares of OrthoPediatrics by 16.2% in the 3rd quarter. Wellington Management Group LLP now owns 883,221 shares of the company’s stock valued at $23,944,000 after buying an additional 122,846 shares during the period. 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.