Needham Believes OrthoPediatrics (NASDAQ: KIDS) Still Has Room to Grow

In a report released yesterday, Michael Matson from Needham reiterated a Buy rating on OrthoPediatrics (KIDSResearch Report), with a price target of $57.00. The company’s shares closed last Wednesday at $47.78, close to its 52-week high of $51.48.

According to, Matson is a 5-star analyst with an average return of 9.6% and a 58.1% success rate. Matson covers the Healthcare sector, focusing on stocks such as Axonics Modulation Technologies, Cardiovascular Systems, and Zimmer Biomet Holdings.

Currently, the analyst consensus on OrthoPediatrics is a Strong Buy with an average price target of $53.80.

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Based on OrthoPediatrics’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $16.36 million and GAAP net loss of $4.95 million. In comparison, last year the company earned revenue of $14.66 million and had a GAAP net loss of $3.02 million.

Based on the recent corporate insider activity of 28 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of KIDS in relation to earlier this year.

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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.