OrthoPediatrics Corp General Counsel Sells $293,000 Worth of Stock
OrthoPediatrics Corp's General Counsel and Secretary, Daniel J. Gerritzen, recently sold 10,000 shares of the company's stock at a price of $29.30 per share, totaling $293,000. The transaction was disclosed in a Form 4 filing with the SEC on August 21, 2024.
Investors often pay attention to insider transactions as they can provide insights into how executives view the company's value and future performance. However, it's important to note that such transactions can occur for various reasons and may not always reflect the company's outlook.
In other news, OrthoPediatrics experienced record growth in Q2 2024, with a 52% increase in the number of children served and a 33% rise in revenue, reaching $52.8 million. The company also secured a $25 million term loan and announced a $5 million stock repurchase program.
Looking ahead, OrthoPediatrics plans to launch new products, expand internationally, and achieve cash flow breakeven by 2026. The company's full-year 2024 revenue guidance is between $200 million and $203 million, with an expected adjusted EBITDA of $8-9 million.
In conclusion, while OrthoPediatrics presents a mixed financial landscape, with a market capitalization of $752.34 million, investors should consider factors like the company's recent growth, debt levels, and profitability outlook before making investment decisions. For more insights, visit InvestingPro.