California State Teachers Retirement System Trims Stock Holdings in OrthoPediatrics Corp. (NASDAQ:KIDS)

California State Teachers Retirement System lessened its stake in shares of OrthoPediatrics Corp. (NASDAQ:KIDS) by 6.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,796 shares of the company’s stock after selling 952 shares during the quarter. California State Teachers Retirement System owned about 0.06% of OrthoPediatrics worth $343,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Invesco Ltd. raised its stake in shares of OrthoPediatrics by 3.0% during the fourth quarter. Invesco Ltd. now owns 16,363 shares of the company’s stock worth $379,000 after purchasing an additional 469 shares during the last quarter. Northern Trust Corp raised its stake in shares of OrthoPediatrics by 0.3% during the fourth quarter. Northern Trust Corp now owns 193,798 shares of the company’s stock worth $4,492,000 after purchasing an additional 644 shares during the last quarter. Rhumbline Advisers raised its stake in shares of OrthoPediatrics by 4.1% during the fourth quarter. Rhumbline Advisers now owns 26,411 shares of the company’s stock worth $612,000 after purchasing an additional 1,042 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of OrthoPediatrics by 3.8% during the fourth quarter. Bank of New York Mellon Corp now owns 57,710 shares of the company’s stock worth $1,338,000 after purchasing an additional 2,099 shares during the last quarter. Finally, Wells Fargo & Company MN raised its stake in shares of OrthoPediatrics by 31.1% during the fourth quarter. Wells Fargo & Company MN now owns 9,853 shares of the company’s stock worth $228,000 after purchasing an additional 2,338 shares during the last quarter. Hedge funds and other institutional investors own 69.05% of the company’s stock.

Insider Activity at OrthoPediatrics

In related news, CEO David R. Bailey sold 6,620 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 transaction of $164,573.20. Following the transaction, the chief executive officer now directly owns 319,155 shares in the company, valued at approximately $7,934,193.30. This represents a 2.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Gregory A. Odle sold 5,359 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 $133,224.74. Following the transaction, the insider now owns 148,788 shares in the company, valued at $3,698,869.68. This trade represents a 3.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,732 shares of company stock valued at $589,978 over the last quarter. Insiders own 32.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Lake Street Capital assumed coverage on OrthoPediatrics in a research note on Monday, April 7th. They set a “buy” rating and a $37.00 price target for the company. Stifel Nicolaus dropped their price objective on OrthoPediatrics from $40.00 to $32.00 and set a “buy” rating on the stock in a report on Wednesday, March 5th. Needham & Company LLC reaffirmed a “buy” rating and set a $42.00 price objective on shares of OrthoPediatrics in a report on Thursday, May 8th. Truist Financial dropped their price objective on OrthoPediatrics from $26.00 to $24.00 and set a “hold” rating on the stock in a report on Friday, April 11th. Finally, Piper Sandler lowered their target price on OrthoPediatrics from $40.00 to $30.00 and set an “overweight” rating on the stock in a report on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $35.83.

OrthoPediatrics Stock Down 1.7%

KIDS opened at $21.72 on Friday. The company has a quick ratio of 3.68, a current ratio of 7.17 and a debt-to-equity ratio of 0.19. The firm has a market cap of $527.51 million, a P/E ratio of -17.66 and a beta of 1.08. OrthoPediatrics Corp. has a 52 week low of $19.52 and a 52 week high of $35.99. The business’s fifty day simple moving average is $21.53 and its 200 day simple moving average is $23.35.

OrthoPediatrics (NASDAQ:KIDS) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.39) EPS for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.13). The company had revenue of $52.41 million for the quarter, compared to analyst estimates of $51.68 million. OrthoPediatrics had a negative net margin of 15.00% and a negative return on equity of 5.78%. As a group, equities research analysts anticipate that OrthoPediatrics Corp. will post -0.93 EPS for the current fiscal year.

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.