OrthoPediatrics falls after Truist downgrades to 'hold', cuts PT

Orthopediatrics

25/01/2024 12:53

** Shares of medical device maker OrthoPediatrics  KIDS.O 
fall 1.7% to $27.47 premarket
    ** Brokerage Truist downgrades KIDS to "hold" from "buy",
and cuts PT to $31 from $39
    ** Truist believes co's current valuation fairly reflects
its slower growth prospects
    ** Brokerage sees KIDS' specialty bracing business to
maintain growth, but expects that to be offset by the slowing
growth in its older, legacy implants business
    ** Pediatric orthopedic procedure volumes have been slower
to recover than adult orthopedic volumes - Truist
    ** 6 of 7 brokerages rate the stock "buy" or higher, 1
"hold"; their median PT is $38.50
    ** Up to Wednesday's close, stock down 40.6% in the last 12
months

 (Reporting by Puyaan Singh)
 ((Puyaan.Singh@thomsonreuters.com;))