J.B.
This sounds exactly like my situation with my daughter in first grade. She's incredibly bright and sweet but was failing at reading, never remembered to turn anything in and the only parties or events she was invited to included an entire group (Daisy Troop/Class). I spoke with her teacher multiple times. We wound up having her evaluated by the school and eventually a child psychologist. He diagnosed her with ADHD. I hate even giving her tylenol or motrin, so I was pretty set against medicating her. After a lot of research and reflection on it, we decided to do a trial of concerta. I have to say, it has been a life changing decision. I do not believe medication is right for every situation or every child, but I think you should certainly look at having him evaluated. The child psychologist we worked with was amazing. He never made her feel like she was odd or different. He made the testing seem as if it were a game.
I will caution you against just going to your pediatrician about it. Ours immediately pulled out the prescription pad and wrote a script as soon as she saw the school report. We went on to have extension testing done and got a second opinion before decided on what to do.