OrthoPediatrics Corp's (NASDAQ: ) General Counsel and Secretary, Daniel J. Gerritzen, sold shares of the company's stock, according to the latest SEC filing. Gerritzen sold 10,000 shares at a price of $29.30 per share, for a total of $293,000.
The transaction occurred on August 21, 2024, and was disclosed in a Form 4 filing with the Securities and Exchange Commission. After the sale, Gerritzen retains ownership of 77,304 shares in the company, including restricted stock awards of 66,518 shares.
OrthoPediatrics Corp, based in Warsaw, Indiana, specializes in surgical and medical instruments and equipment, with a particular focus on pediatric orthopedics. The company's shares trade under the ticker KIDS on the NASDAQ exchange.
Investors often monitor insider trading as they can provide insight into how management views the stock's value and future performance. However, such transactions may occur for various reasons and may not necessarily be indicative of the company's outlook.
For more information about the transaction, investors are encouraged to review the complete SEC Form 4 filing.
In other recent news, OrthoPediatrics achieved record growth in Q2 2024, with a significant 52% increase in the number of children served and a 33% increase in revenue, topping $52.8 million. This significant increase was driven mainly by the trauma and disability, domestic scoliosis, and special bracing sectors. The company also secured a $25 million loan and announced a stock repurchase plan of up to $5 million.
OrthoPediatrics also revealed its future growth strategies, which include introducing new products and expanding internationally. The company's full-year 2024 revenue guidance remains between $200 million and $203 million, with adjusted EBITDA expected at $8-9 million.
According to the analyst's view, OrthoPediatrics hopes to grow in international markets and capture market share. The company also plans to achieve cash flow by 2026 and expects to generate $8-9 million in adjusted EBITDA by 2024. This is among the latest developments in the company's financial situation.
InvestingPro Insights
During the intraday trading activity, OrthoPediatrics Corp (NASDAQ:KIDS) presents a mixed financial situation. According to InvestingPro data, the company's market capitalization is $752.34 million, which reflects its market valuation. Despite a significant return in the last week, with a total price return of 13.75%, the company's stock has been volatile in different periods, including a 1-year price return of -15.19%.
InvestingPro Tips suggests that although analysts have recently revised their earnings upward for the foreseeable future, they do not expect OrthoPediatrics Corp to be profitable this year. The financial health of the company shows that it operates with a limited level of debt and that its liquid assets exceed short-term obligations, which may provide assurance to investors concerned about the immediate financial obligations of the company.
However, the company's current P/E ratio is -28.22, and it does not pay dividends to shareholders, which may be points of consideration for investors looking for current profits or income generation on their investments. For those interested in more information, InvestingPro offers additional tips on OrthoPediatrics Corp, which can be found at InvestingPro.
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