OrthoPediatrics (NASDAQ:KIDS) Shares Down 5.4% – Here’s Why

OrthoPediatrics Corp. (NASDAQ:KIDS)’s share price fell 5.4% during trading on Tuesday . The company traded as low as $25.09 and last traded at $25.18. 36,370 shares were traded during mid-day trading, a decline of 78% from the average session volume of 168,215 shares. The stock had previously closed at $26.61.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Truist Financial lowered their price target on shares of OrthoPediatrics from $34.00 to $28.00 and set a “hold” rating for the company in a report on Monday, October 14th. Needham & Company LLC reaffirmed a “buy” rating and set a $42.00 price objective on shares of OrthoPediatrics in a research note on Friday, November 8th. Finally, JMP Securities reissued a “market outperform” rating and issued a $50.00 target price on shares of OrthoPediatrics in a research note on Friday, September 13th.

OrthoPediatrics Stock Down 2.0 %

The company has a debt-to-equity ratio of 0.19, a current ratio of 7.17 and a quick ratio of 3.68. The stock has a 50 day simple moving average of $26.26 and a 200-day simple moving average of $29.20. The firm has a market cap of $614.95 million, a PE ratio of -21.06 and a beta of 1.16.

Hedge Funds Weigh In On OrthoPediatrics

Hedge funds have recently bought and sold shares of the company. State Board of Administration of Florida Retirement System purchased a new position in OrthoPediatrics in the first quarter worth about $178,000. Vanguard Group Inc. raised its holdings in OrthoPediatrics by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 883,827 shares of the company’s stock worth $25,772,000 after acquiring an additional 11,100 shares during the last quarter. Kennedy Capital Management LLC purchased a new stake in OrthoPediatrics during the 1st quarter valued at $2,894,000. Alexander Labrunerie & CO. Inc. purchased a new stake in OrthoPediatrics during the 1st quarter valued at $268,000. Finally, Harbor Capital Advisors Inc. increased its holdings in shares of OrthoPediatrics by 649.0% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 67,057 shares of the company’s stock worth $1,929,000 after purchasing an additional 58,104 shares in the last quarter. Institutional investors 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.