Shares of OrthoPediatics Corp. were trading 50% above the initial public offering price, in their public debut. The maker of medical devices for use in the pediatric orthopedic market’s shares opened at $18 at 10:53 a.m. ET, or 38.5% above its $13 IPO price. Since then, it has traded as low as $17.17 and as high as $20.90. The company offered 4 million shares, to raise $52 million. Piper Jaffray and Stifel are lead bookrunners on the deal, with William Blair acting as lead manager and BTIG acting as co-manager. The stock debuts at a time when the SPDR Health Care Select Sector ETF has climbed 4.0% over the past three months, but underperformed the S&P 500’s 4.5% over the same time.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Latest posts by Market Watch (see all)
- The Wall Street Journal: Jared Kushner was warned by U.S. over Wendi Deng Murdoch and China - January 16, 2018
- Asia Markets: Asian stocks bounce back, Hang Seng aims for a record - January 16, 2018
- The New York Post: California parents held on suspicion of torturing 13 children found in shackles - January 15, 2018