Truist Financial Forecasts Strong Price Appreciation for OrthoPediatrics (NASDAQ:KIDS) Stock

OrthoPediatrics (NASDAQ:KIDS) had its price objective hoisted by equities researchers at Truist Financial from $19.00 to $20.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a “hold” rating on the stock. Truist Financial’s price objective indicates a potential upside of 7.12% from the stock’s previous close.

A number of other research analysts also recently issued reports on the company. BTIG Research raised their price target on OrthoPediatrics from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Friday, February 27th. Wall Street Zen cut OrthoPediatrics from a “hold” rating to a “sell” rating in a research note on Saturday, February 21st. Weiss Ratings restated a “sell (e+)” rating on shares of OrthoPediatrics in a research report on Thursday, January 22nd. TD Cowen raised shares of OrthoPediatrics to a “strong-buy” rating in a report on Tuesday, January 27th. Finally, Canaccord Genuity Group began coverage on shares of OrthoPediatrics in a research note on Wednesday, December 10th. They set a “buy” rating and a $24.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, OrthoPediatrics has a consensus rating of “Moderate Buy” and an average price target of $24.67.

OrthoPediatrics Trading Down 2.9%

NASDAQ KIDS opened at $18.67 on Monday. The firm’s fifty day moving average price is $17.70 and its 200 day moving average price is $18.12. OrthoPediatrics has a 12 month low of $15.28 and a 12 month high of $26.40. The company has a debt-to-equity ratio of 0.28, a current ratio of 7.40 and a quick ratio of 3.52. The company has a market capitalization of $468.24 million, a price-to-earnings ratio of -11.05 and a beta of 1.07.

OrthoPediatrics (NASDAQ:KIDS) last released its quarterly earnings data on Thursday, February 26th. The company reported ($0.26) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.37) by $0.11. OrthoPediatrics had a negative net margin of 16.77% and a negative return on equity of 6.68%. The company had revenue of $61.61 million during the quarter, compared to the consensus estimate of $61.27 million. On average, sell-side analysts expect that OrthoPediatrics will post -0.93 earnings per share for the current fiscal year.

Hedge Funds Weigh In On OrthoPediatrics

Several institutional investors have recently bought and sold shares of KIDS. Millennium Management LLC raised its position in 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 during the last quarter. Prosight Management LP increased its stake in shares of OrthoPediatrics by 319.2% during the third quarter. Prosight Management LP now owns 308,707 shares of the company’s stock worth $5,720,000 after acquiring an additional 235,060 shares during the period. Deerfield Management Company L.P. raised its holdings in OrthoPediatrics by 1,153.4% during the third quarter. Deerfield Management Company L.P. now owns 194,109 shares of the company’s stock worth $3,597,000 after purchasing an additional 178,623 shares in the last quarter. Nantahala Capital Management LLC raised its holdings in OrthoPediatrics by 303.3% during the fourth quarter. Nantahala Capital Management LLC now owns 199,449 shares of the company’s stock worth $3,542,000 after purchasing an additional 150,000 shares in the last quarter. Finally, RA Capital Management L.P. acquired a new stake in OrthoPediatrics in the fourth quarter valued at about $1,953,000. 69.05% of the stock is owned by institutional investors and hedge funds.

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.