In a report issued on November 1, Ryan Zimmerman from BTIG reiterated a Buy rating on OrthoPediatrics Corp (KIDS), with a price target of $35. The company’s shares closed on Friday at $30.65.
Zimmerman wrote:
“Following a Great Q is a Buying Opportunity; PT to $35 We reiterate our BUY rating on KIDS following 3Q18 results. The sell-off on today’s print is a buying opportunity in our view. KIDS continues to deliver robust growth with rev. growing ~27.8% to $15.8M vs. BTIG/Consensus of $15.3M/$15.2M driven by Scoliosis momentum. T&D continues to grow north of 20% and new instrument sets are infusing into the market to support future adoption. Taking a step back, the reaction to today’s post earnings shelf filing appears overdone.”
According to TipRanks.com, Zimmerman is a 5-star analyst with an average return of 21.3% and a 62.9% success rate. Zimmerman covers the Healthcare sector, focusing on stocks such as Zimmer Biomet Holdings, Integra Lifesciences, and Stryker Corporation.
OrthoPediatrics Corp has an analyst consensus of Strong Buy, with a price target consensus of $34.67, representing a 13.1% upside. In a report issued on November 1, Stifel Nicolaus also maintained a Buy rating on the stock with a $36 price target.
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Based on OrthoPediatrics Corp’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $1.87 million. In comparison, last year the company had a GAAP net loss of $1.54 million.
Based on the recent corporate insider activity of 25 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.
