OrthoPediatrics (NASDAQ:KIDS) Sets New 52-Week Low – Here’s What Happened

OrthoPediatrics Corp. (NASDAQ:KIDS)’s stock price reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $23.97 and last traded at $23.97, with a volume of 65270 shares trading hands. The stock had previously closed at $24.98.

Analyst Ratings Changes

Several brokerages recently weighed in on KIDS. Needham & Company LLC reaffirmed a “buy” rating and set a $42.00 price target on shares of OrthoPediatrics in a report on Friday, November 8th. JMP Securities reaffirmed a “market outperform” rating and issued a $50.00 target price on shares of OrthoPediatrics in a report on Friday, September 13th. Finally, Truist Financial cut 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.

OrthoPediatrics Price Performance

The company has a debt-to-equity ratio of 0.19, a current ratio of 7.17 and a quick ratio of 1.96. The company has a 50-day simple moving average of $27.37 and a 200-day simple moving average of $29.68. The stock has a market cap of $549.46 million, a PE ratio of -18.45 and a beta of 1.16.

Insider Activity

In related news, General Counsel Daniel J. Gerritzen sold 10,000 shares of OrthoPediatrics stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $29.30, for a total transaction of $293,000.00. Following the completion of the transaction, the general counsel now directly owns 77,304 shares in the company, valued at $2,265,007.20. The trade was a 11.45 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 31.80% of the company’s stock.

Hedge Funds Weigh In On OrthoPediatrics

Several hedge funds have recently bought and sold shares of the stock. BNP Paribas Financial Markets raised its holdings in OrthoPediatrics by 85.1% in the 1st quarter. BNP Paribas Financial Markets now owns 12,414 shares of the company’s stock valued at $362,000 after acquiring an additional 5,707 shares during the last quarter. Quantbot Technologies LP grew its stake in shares of OrthoPediatrics by 180.8% during the 1st quarter. Quantbot Technologies LP now owns 7,091 shares of the company’s stock valued at $207,000 after buying an additional 4,566 shares during the period. State Board of Administration of Florida Retirement System acquired a new stake in OrthoPediatrics during the first quarter worth about $178,000. Vanguard Group Inc. increased its position in OrthoPediatrics by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 883,827 shares of the company’s stock worth $25,772,000 after purchasing an additional 11,100 shares in the last quarter. Finally, EntryPoint Capital LLC increased its position in shares of OrthoPediatrics by 56.9% in the first quarter. EntryPoint Capital LLC now owns 2,783 shares of the company’s stock worth $81,000 after acquiring an additional 1,009 shares in the last quarter. Hedge funds and other 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.