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GMED - OrthoPediatrics Corp. Is Now Wildly Overvalued
Globus Medical Inc. Class A
OrthoPediatrics Corp. (KIDS) is now wildly overvalued relative to small-cap peers. I expect shares to trade down following the 1Q earnings call as the company discloses the magnitude of the revenue decline it is experiencing due to disruption to elective procedures. While this unfortunate disruption is temporary, it is likely to have lingering effects. Most small-cap, spine-related public companies have seen their stock prices decline substantially while KIDS is barely off its recent high. KIDS is not profitable and still trades on over 10x 2019 revenues as compared to a group average now around 3x