In a report released yesterday, Ryan Zimmerman from BTIG maintained a Buy rating on OrthoPediatrics Corp (NASDAQ: KIDS), with a price target of $25. The company’s shares closed yesterday at $19.10.
Zimmerman wrote:
“PT to $25 from $24 KIDS reported 1Q18 results with revenue of $12.1M topping BTIG/Consensus expectations of $11.8M and $11.5M respectively. Results were driven by strong uptake in Scoliosis and strength OUS. We recently caught up with KIDS mgmt. and a KIDS distributor at the POSNA conference (here) and came away encouraged by the impact the increase in deployed instrument sets is having on distributors across KIDS US sales network. With 3 quarters now as a public company KIDS has maintained its 20%+ Y/Y growth profile without the impact of new instrument sets. As the impact of the new instrumentation is felt, combined with higher average revenue per case from newly released products, and a full product pipeline in FY18, we reiterate our Buy and raise our PT to $25 from $24 as we roll forward estimates.”
According to TipRanks.com, Zimmerman is a 5-star analyst with an average return of 33.6% and a 62.2% success rate. Zimmerman covers the Healthcare sector, focusing on stocks such as Integra Lifesciences, SeaSpine Holdings, and Globus Medical.
OrthoPediatrics Corp has an analyst consensus of Moderate Buy, with a price target consensus of $24.
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Based on OrthoPediatrics Corp’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $5 million. In comparison, last year the company had a GAAP net loss of $1.29 million.
Based on the recent corporate insider activity of 13 insiders, corporate insider sentiment is negative on the stock.
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OrthoPediatrics Corp. is a medical device company, which engages in the design, development, and marketing of anatomically appropriate implants and devices for children with orthopedic conditions. Its products includes PediLoc®, PediPlates®, Cannulated Screws, PediFlexTM nail, PediNailTM, PediLoc® Tibia, ACL Reconstruction System, Locking Cannulated Blade, Locking Proximal Femur, RESPONSE Spine, Bandloc and Pediguard. The company was founded by Erin Springer Yount and Nick A. Deeter in August 2006 and is headquartered in Warsaw, IN.
