Analysts Set Average Price Target of $24 for OrthoPediatrics Stock

Analysts have established an average price target of $24.00 for shares of OrthoPediatrics Corp. (NASDAQ:KIDS), reflecting a consensus rating of “Moderate Buy” from ten analysts monitoring the stock, according to a report from Marketbeat. Among these analysts, one has issued a sell rating, one has rated it a hold, and eight have provided buy ratings.

Several research firms have recently updated their recommendations for OrthoPediatrics. JMP Securities adjusted their target price from $35.00 to $25.00, maintaining a “market outperform” rating. Meanwhile, Needham & Company LLC lowered their price target from $42.00 to $26.00 and affirmed a “buy” rating. Additionally, Lake Street Capital set a new target of $34.00 from a previous $37.00 with a buy recommendation, while Piper Sandler reduced their target from $30.00 to $22.00, maintaining an “overweight” rating. Finally, Citigroup reaffirmed an “outperform” rating for the company.

Recent Earnings Report and Analyst Forecasts

On October 28, 2023, OrthoPediatrics released its quarterly earnings report, revealing an earnings per share (EPS) of ($0.24), which surpassed the consensus estimate of ($0.26) by $0.02. The company reported revenues of $61.25 million, slightly below the anticipated $63.63 million. Despite these results, OrthoPediatrics experienced a negative net margin of 20.06% and a negative return on equity of 6.86%. Analysts predict that the company will post an EPS of (0.93) for the current fiscal year.

Institutional Investment Trends

In recent months, several institutional investors have modified their holdings in OrthoPediatrics. Russell Investments Group Ltd. significantly increased its stake by 433.1% during the third quarter, acquiring an additional 1,139 shares to a total of 1,402 shares, valued at approximately $26,000. Caption Management LLC entered a new position in the company, valued at about $54,000.

Additionally, BNP Paribas Financial Markets raised its stake by 60.2%, owning 3,288 shares worth approximately $61,000 after adding 1,235 shares. Another significant investment was made by Los Angeles Capital Management LLC, which acquired a new stake valued at about $220,000 during the second quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings by 6.9%, owning 9,995 shares valued at $246,000 after purchasing an additional 645 shares.

Currently, approximately 69.05% of OrthoPediatrics stock is owned by institutional investors and hedge funds.

About OrthoPediatrics Corp.

Founded in 2007 and based in Warsaw, Indiana, OrthoPediatrics Corp. specializes in orthopedic solutions for children. The company focuses on developing, manufacturing, and marketing a comprehensive range of implants and instruments tailored to various pediatric conditions. These include trauma, deformity correction, spine disorders, and sports injuries. Their product offerings feature locking plates and screws for upper and lower extremity reconstruction, intramedullary nails for femur and tibia stabilization, and specialized systems like the MAGEC Magnetic Growth Rod for treating early-onset scoliosis.

Investors and analysts continue to monitor OrthoPediatrics closely as the company navigates its growth in the pediatric orthopedic market.