Needham Reiterates Buy Rating on OrthoPediatrics Corp. (KIDS)

Needham analyst Mike Matson reiterated a Buy rating and $42.00 price target on OrthoPediatrics Corp. (NASDAQ: KIDS).

The analyst comments "At KIDS' 9/12/24 investor day, management provided updates on growth strategies for Scoliosis and Trauma & Deformity (T&D), announced the launch of the Enabling Technologies business, described its plans to expand its OrthoPediatrics Specialty Bracing (OPSB) business, and issued a long-range plan (LRP) for 2024E-2027E (high-teens revenue growth, gross margin of ~74-75%, ~300 bps of EBITDA margin improvement/year, and cash flow positivity in 2026). With new product launches in KIDS' legacy T&D and Scoliosis businesses and two early stage businesses with large addressable markets (OPSB and Enabling Technologies) and near-term product launches, we believe KIDS can meet or beat its LRP and we reiterate our Buy rating."

For an analyst ratings summary and ratings history on OrthoPediatrics Corp. click here. For more ratings news on OrthoPediatrics Corp. click here.

Shares of OrthoPediatrics Corp. closed at $31.60 yesterday.

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