OrthoPediatrics (NASDAQ:KIDS) Trading Down 7.8% – Here’s What Happened

OrthoPediatrics Corp. (NASDAQ:KIDS) shares dropped 7.8% during trading on Thursday . The stock traded as low as $28.10 and last traded at $28.54. Approximately 46,608 shares were traded during trading, a decline of 72% from the average daily volume of 164,730 shares. The stock had previously closed at $30.95.

Wall Street Analysts Forecast Growth

KIDS has been the topic of several recent research reports. Truist Financial cut their price target on OrthoPediatrics from $34.00 to $28.00 and set a “hold” rating on the stock in a report on Monday, October 14th. Needham & Company LLC reaffirmed a “buy” rating and issued a $42.00 target price on shares of OrthoPediatrics in a report on Friday. Finally, JMP Securities reiterated a “market outperform” rating and set a $50.00 price target on shares of OrthoPediatrics in a report on Friday, September 13th.

OrthoPediatrics Trading Down 6.4 %

The firm has a market capitalization of $622.68 million, a price-to-earnings ratio of -20.91 and a beta of 1.16. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.96 and a current ratio of 4.90. The company has a 50-day moving average price of $27.76 and a 200-day moving average price of $29.81.

Insider Activity at OrthoPediatrics

In other news, General Counsel Daniel J. Gerritzen sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $29.30, for a total transaction of $293,000.00. Following the completion of the sale, the general counsel now owns 77,304 shares in the company, valued at approximately $2,265,007.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 31.80% of the stock is currently owned by corporate insiders.

Institutional Trading of OrthoPediatrics

Large investors have recently made changes to their positions in the company. Harbor Capital Advisors Inc. lifted its stake in OrthoPediatrics by 268.1% in the third quarter. Harbor Capital Advisors Inc. now owns 246,860 shares of the company’s stock valued at $6,692,000 after buying an additional 179,803 shares during the last quarter. Kennedy Capital Management LLC acquired a new stake in OrthoPediatrics during the 1st quarter worth $2,894,000. Mutual of America Capital Management LLC grew its position in OrthoPediatrics by 195.1% during the 3rd quarter. Mutual of America Capital Management LLC now owns 107,609 shares of the company’s stock worth $2,917,000 after purchasing an additional 71,146 shares during the last quarter. AWM Investment Company Inc. grew its position in OrthoPediatrics by 14.6% during the 1st quarter. AWM Investment Company Inc. now owns 487,619 shares of the company’s stock worth $14,219,000 after purchasing an additional 62,000 shares during the last quarter. Finally, Sei Investments Co. increased its stake in OrthoPediatrics by 345.2% in the second quarter. Sei Investments Co. now owns 30,747 shares of the company’s stock valued at $884,000 after purchasing an additional 23,841 shares during the period. 69.05% of the stock is owned by institutional investors and hedge funds.

OrthoPediatrics Company Profile

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.