OrthoPediatrics (NASDAQ:KIDS), founded in 2006, is known for its comprehensive product offerings in the pediatric orthopedic market, with over 70 products across trauma, deformity, scoliosis, and sports medicine. The company operates in the United States and more than 70 countries worldwide. With a market capitalization of approximately $591 million, analysts maintain a bullish outlook, with a consensus target price ranging from $28 to $50.This news is based on a press release statement from OrthoPediatrics Corp. and reflects the company's latest steps in enhancing its product line and reinforcing its position in the pediatric orthopedic industry. For deeper insights into OrthoPediatrics' financial health and growth prospects, including additional ProTips and comprehensive analysis, visit InvestingPro, where you'll find detailed research reports and expert analysis.
Boston Orthotics & Prosthetics, a subsidiary of OrthoPediatrics, has over a decade of experience in using thermal sensors in scoliosis braces. These sensors have shown a positive correlation between brace wear time and treatment success. The new Bluetooth-enabled sensor system automatically sends data to an app, which rewards patients with stars and trophies for meeting wear time goals, encouraging compliance. The data is securely stored on a cloud platform, allowing healthcare providers to monitor remotely and access downloadable reports.
Additionally, OrthoPediatrics has entered licensing and distribution agreements with Innovation Lab for the MOVE-D™ brace. This mechanical elbow brace is designed to stabilize tremors in the dominant upper extremity, improving the performance of daily activities for pediatric patients with movement disorders.
Joe Hauser, President of the OPSB division, expressed enthusiasm for the new products, emphasizing their role in supporting children's needs and expanding the division's innovative solutions. Hauser highlighted the collaboration with key opinion leaders and the company's commitment to advancing pediatric orthopedic care without the need for operating room procedures.
OrthoPediatrics, founded in 2006, is known for its comprehensive product offerings in the pediatric orthopedic market, with over 70 products across trauma, deformity, scoliosis, and sports medicine. The company operates in the United States and more than 70 countries worldwide.
This news is based on a press release statement from OrthoPediatrics Corp. and reflects the company's latest steps in enhancing its product line and reinforcing its position in the pediatric orthopedic industry.
In other recent news, OrthoPediatrics Corporation has reported a significant rise in earnings and revenue for the third quarter of 2024. The company's revenue increased by 37% to a record $54.6 million, largely due to new product launches, gains in market share, and strong performance in key segments such as trauma, deformity, and scoliosis. The company served over 33,000 children, marking a 50% increase from the previous year, and adjusted its full-year revenue guidance upwards, indicating 36% to 37% growth.
OrthoPediatrics also reported growth in its trauma and deformity segment revenue, which rose by 31% to $37.6 million, and a 52% increase in its scoliosis segment revenue to $15.6 million. Internationally, revenue grew by 12%, with significant contributions from scoliosis products. Despite a rise in operating expenses and a decrease in gross profit margin, the company's adjusted EBITDA for Q3 was $4.0 million, up from $3.6 million in the same quarter of the previous year.
These recent developments underscore OrthoPediatrics' positive growth trajectory, which the company attributes to strategic initiatives and product innovation. The company is optimistic about its growth strategy and product pipeline and anticipates positive trends to continue through 2024 and beyond. With the expansion of its non-surgical specialty bracing business and the anticipation of new product launches, OrthoPediatrics is well-positioned to sustain its growth and achieve its financial targets in the coming years.
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