OrthoPediatrics price target lowered to $28 from $34 at Truist

Truist analyst Richard Newitter lowered the firm’s price target on OrthoPediatrics to $28 from $34 and keeps a Hold rating on the shares as part of a broader research note previewing Q3 results for the MedTech sector. While the firm believes that any hurricane related headwind call-outs for Q4 will generally get “a pass” from investors, it could cause companies with elective or deferrable procedure areas to see more muted guide increases, the analyst tells investors in a research note. For the stock, Truist contends that it expected more from the company’s Investor Day presentation given the catalysts and new product launches, adding that multiple expansion could be limited without faster organic revenue growth prospects.