OrthoPediatrics Corp. Announces Creation of Enabling Technologies Division
OrthoPediatrics Corp. (NASDAQ: KIDS) has unveiled its latest venture with the establishment of the Enabling Technologies division, dedicated to digital health and advanced technology in pediatric care. Led by Kevin Unger, the division will build upon existing technologies and partnerships to enhance surgical planning and execution, ultimately improving outcomes and efficiency.
CEO David Bailey expressed optimism about the division's potential to impact children's lives positively and drive long-term growth. The company's Investor Day in New York will provide further details on the division's initiatives and strategies.
In recent news, OrthoPediatrics reported significant growth in Q2 2024, with a 52% increase in children served and a 33% rise in revenue, reaching $52.8 million. The company remains steadfast in its full-year revenue guidance and has outlined future growth strategies, including new product launches and international expansion.
Analysts from Piper Sandler and BTIG have reaffirmed positive ratings on OrthoPediatrics, with both firms maintaining a price target of $44.00. The company aims to generate $8-9 million in adjusted EBITDA in 2024 and achieve cash flow breakeven by 2026.
InvestingPro Insights highlight OrthoPediatrics' strong revenue growth and market performance, positioning the company as a significant player in the pediatric orthopedic space. Despite not being profitable, the company has shown growth potential, with analysts revising earnings upwards for the upcoming period.
For investors interested in OrthoPediatrics, InvestingPro offers comprehensive analysis and tips to aid in investment decisions. Stay informed and make strategic investment choices with InvestingPro's insights.
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