OrthoPediatrics (NASDAQ:KIDS) Shares Down 4.2% – Here’s Why

OrthoPediatrics Corp. (NASDAQ:KIDS)’s share price dropped 4.2% during trading on Tuesday . The stock traded as low as $23.39 and last traded at $23.96. Approximately 60,941 shares changed hands during trading, a decline of 78% from the average daily volume of 275,512 shares. The stock had previously closed at $25.00.

Analysts Set New Price Targets

Several brokerages have weighed in on KIDS. Needham & Company LLC reissued a “buy” rating and set a $42.00 price objective on shares of OrthoPediatrics in a report on Tuesday. Truist Financial cut their price objective on OrthoPediatrics from $28.00 to $25.00 and set a “hold” rating on the stock in a research note on Wednesday, December 18th.

OrthoPediatrics Stock Performance

The company has a current ratio of 7.17, a quick ratio of 3.68 and a debt-to-equity ratio of 0.19. The stock’s 50-day moving average price is $23.97 and its 200-day moving average price is $27.37. The company has a market capitalization of $642.45 million, a P/E ratio of -21.57 and a beta of 1.14.

Hedge Funds Weigh In On OrthoPediatrics

A number of hedge funds and other institutional investors have recently bought and sold shares of KIDS. Quarry LP bought a new stake in shares of OrthoPediatrics in the 3rd quarter worth approximately $25,000. International Assets Investment Management LLC increased its position in OrthoPediatrics by 2,610.8% in the third quarter. International Assets Investment Management LLC now owns 1,003 shares of the company’s stock worth $27,000 after buying an additional 966 shares during the period. Quest Partners LLC bought a new stake in OrthoPediatrics in the second quarter valued at $34,000. BNP Paribas Financial Markets grew its position in shares of OrthoPediatrics by 125.1% during the third quarter. BNP Paribas Financial Markets now owns 3,471 shares of the company’s stock worth $94,000 after acquiring an additional 1,929 shares during the last quarter. Finally, Quantbot Technologies LP increased its holdings in shares of OrthoPediatrics by 42.2% in the 3rd quarter. Quantbot Technologies LP now owns 5,773 shares of the company’s stock worth $157,000 after acquiring an additional 1,712 shares during the period. 69.05% of the stock is currently owned by institutional investors and hedge funds.

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.