OrthoPediatrics Corp. (NASDAQ:KIDS) Sees Significant Increase in Short Interest

by · The Markets Daily

OrthoPediatrics Corp. (NASDAQ:KIDS – Get Free Report) was the recipient of a large growth in short interest in September. As of September 30th, there was short interest totalling 961,700 shares, a growth of 13.2% from the September 15th total of 849,900 shares. Currently, 5.9% of the shares of the stock are sold short. Based on an average daily volume of 179,000 shares, the days-to-cover ratio is presently 5.4 days.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on KIDS. JMP Securities reaffirmed a “market outperform” rating and set a $50.00 price objective on shares of OrthoPediatrics in a research note on Friday, September 13th. Needham & Company LLC restated a “buy” rating and set a $42.00 price target on shares of OrthoPediatrics in a research report on Friday, September 13th. Finally, Truist Financial lowered their price objective on OrthoPediatrics from $34.00 to $28.00 and set a “hold” rating for the company in a research report on Monday.

Check Out Our Latest Research Report on KIDS

Insider Activity

In other OrthoPediatrics news, General Counsel Daniel J. Gerritzen sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $29.30, for a total value of $293,000.00. Following the completion of the sale, the general counsel now owns 77,304 shares of the company’s stock, valued at $2,265,007.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 31.80% of the company’s stock.

Institutional Investors Weigh In On OrthoPediatrics

Several hedge funds have recently made changes to their positions in the company. Wellington Management Group LLP purchased a new position in OrthoPediatrics during the fourth quarter valued at $10,214,000. Wasatch Advisors LP increased its stake in shares of OrthoPediatrics by 21.2% in the 1st quarter. Wasatch Advisors LP now owns 501,310 shares of the company’s stock worth $14,618,000 after acquiring an additional 87,657 shares in the last quarter. BNP Paribas Financial Markets lifted its position in OrthoPediatrics by 85.1% during 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 period. Quantbot Technologies LP lifted its position in 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 acquiring an additional 4,566 shares during the period. Finally, State Board of Administration of Florida Retirement System purchased a new stake in OrthoPediatrics in the first quarter worth about $178,000. 69.05% of the stock is currently owned by institutional investors.

OrthoPediatrics Price Performance

Shares of OrthoPediatrics stock opened at $25.95 on Tuesday. The business has a 50 day moving average of $28.51 and a 200 day moving average of $30.13. OrthoPediatrics has a 52 week low of $23.10 and a 52 week high of $36.23. The company has a quick ratio of 1.96, a current ratio of 4.90 and a debt-to-equity ratio of 0.03. The company has a market cap of $618.36 million, a PE ratio of -27.03 and a beta of 1.17.

OrthoPediatrics (NASDAQ:KIDS – Get Free Report) last released its quarterly earnings results on Monday, August 5th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.08. The company had revenue of $52.80 million during the quarter, compared to the consensus estimate of $52.40 million. OrthoPediatrics had a negative net margin of 14.35% and a negative return on equity of 5.44%. As a group, equities research analysts forecast that OrthoPediatrics will post -0.92 earnings per share for the current year.

About OrthoPediatrics

(Get Free Report)

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.

See Also