OrthoPediatrics price target lowered to $23 from $39 at BTIG

BTIG lowered the firm’s price target on OrthoPediatrics (KIDS) to $23 from $39 and keeps a Buy rating on the shares after the company’s Q3 pre-announcement and FY25 guidance cut as international orders of instrument set sales in Central and South America were light, coupled with elongated sales cycles for 7D. With shares already being fairly depressed at enterprise value 1.4-times expected next 12-months sales and not being rewarded with growth in the mid-teens previously, OrthoPediatrics also decided now was the right time to re-base long-term expectations so that they could start over-achieving in FY26, the analyst tells investors in a research note.