OrthoPediatrics selloff today a buying opportunity, says Piper Jaffray

Piper Jaffray analyst Matt O’Brien recommends using the post-earnings selloff today in shares of OrthoPediatrics as an opportunity to build upon existing positions. The company’s Q1 results were in-line and its reaffirmed fiscal 2019 guidance is achievable if not beatable, O’Brien tells investors in a research note. The company did experience a slight slowdown in market volumes for elective deformity correction procedures during the quarter, but management believes there were attributable to temporary factors, adds the analyst. He raised his price target for OrthoPediatrics to $48 from $45 and keeps an Overweight rating on the shares.

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