OrthoPediatrics (NASDAQ:KIDS) Trading Down 4.5% – Here’s What Happened

OrthoPediatrics Corp. (NASDAQ:KIDS) fell 4.5% during mid-day trading on Thursday . The company traded as low as $23.29 and last traded at $23.29. 14,450 shares traded hands during trading, a decline of 91% from the average session volume of 167,552 shares. The stock had previously closed at $24.39.

Analyst Upgrades and Downgrades

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

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 firm’s fifty day moving average is $25.95 and its 200-day moving average is $28.97.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of KIDS. Vanguard Group Inc. grew its stake in shares of 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 in the last quarter. SG Americas Securities LLC bought a new position in OrthoPediatrics during the second quarter worth about $110,000. Bank of New York Mellon Corp boosted its position in OrthoPediatrics by 14.9% during the second quarter. Bank of New York Mellon Corp now owns 68,700 shares of the company’s stock worth $1,976,000 after purchasing an additional 8,887 shares during the period. Commonwealth Equity Services LLC boosted its position in OrthoPediatrics by 0.6% during the second quarter. Commonwealth Equity Services LLC now owns 72,935 shares of the company’s stock worth $2,098,000 after purchasing an additional 420 shares during the period. Finally, Triodos Investment Management BV boosted its position in OrthoPediatrics by 1.2% during the second quarter. Triodos Investment Management BV now owns 41,500 shares of the company’s stock worth $1,194,000 after purchasing an additional 500 shares during the period. Institutional investors and hedge funds 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.