OrthoPediatrics price target lowered to $18 from $22 at Truist

Truist analyst Richard Newitter lowered the firm’s price target on OrthoPediatrics (KIDS) to $18 from $22 and keeps a Hold rating on the shares. The company announced a preliminary Q3 revenue miss related to weaker capital sales and a more challenging LatAm market, the analyst tells investors in a research note. While the fundamentals in the U.S. remain healthy with underlying profit drivers were reiterated, this was still a meaningful guide-down on the top-line, Truist notes, adding that the stock’s multiple expansion will be tied to sustainable outperformance.