Zacks Investment Research upgraded shares of K2M Group Holdings Inc. (NASDAQ:KTWO) from a hold rating to a buy rating in a research report report published on Wednesday morning. The brokerage currently has $20.00 target price on the medical device company’s stock.

According to Zacks, “K2M Group Holdings, Inc. is a global medical device company. The Company is focused on designing, developing and commercializing complex spine and minimally invasive spine technologies and techniques. Its products consist of implants, disposables and instruments which are marketed and sold primarily to hospitals for use by spine surgeons. The Company’s products include Complex Spine, Minimally Invasive Spine and Degenerative Spine. Its technologies include MESA, Rail 4D, Deformity Cricket, SERENGETI, RAVINE, EVEREST and tifix. K2M Group Holdings, Inc. is headquartered in Leesburg, Virginia. “

KTWO has been the topic of several other reports. Wells Fargo & Co. reissued a buy rating on shares of K2M Group Holdings in a research report on Sunday, September 11th. Barclays PLC raised their price objective on K2M Group Holdings from $20.00 to $22.00 and gave the company an overweight rating in a research report on Thursday, August 4th. Oppenheimer Holdings Inc. reissued an outperform rating and issued a $23.00 price objective on shares of K2M Group Holdings in a research report on Friday, August 5th. Needham & Company LLC reissued a buy rating on shares of K2M Group Holdings in a research report on Wednesday, June 22nd. Finally, Gabelli initiated coverage on K2M Group Holdings in a research report on Friday, September 16th. They issued a buy rating and a $22.00 price objective on the stock. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of Buy and an average target price of $21.86.

Analyst Recommendations for K2M Group Holdings (NASDAQ:KTWO)

Shares of K2M Group Holdings (NASDAQ:KTWO) traded down 2.75% during mid-day trading on Wednesday, hitting $18.06. The company had a trading volume of 58,463 shares. The stock’s 50-day moving average is $16.87 and its 200-day moving average is $15.39. The stock’s market cap is $761.14 million. K2M Group Holdings has a 52-week low of $10.10 and a 52-week high of $21.67.

K2M Group Holdings (NASDAQ:KTWO) last issued its earnings results on Wednesday, August 3rd. The medical device company reported ($0.27) earnings per share for the quarter, topping the consensus estimate of ($0.28) by $0.01. The business had revenue of $59.20 million for the quarter, compared to analyst estimates of $57.47 million. K2M Group Holdings had a negative return on equity of 12.90% and a negative net margin of 17.79%. The business’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period last year, the company posted ($0.16) EPS. Equities analysts forecast that K2M Group Holdings will post ($1.09) earnings per share for the current year.

Several large investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP boosted its stake in K2M Group Holdings by 44.5% in the first quarter. Wellington Management Group LLP now owns 2,110,822 shares of the medical device company’s stock worth $31,303,000 after buying an additional 649,694 shares during the period. Waddell & Reed Financial Inc. boosted its stake in shares of K2M Group Holdings by 92.6% in the second quarter. Waddell & Reed Financial Inc. now owns 1,595,114 shares of the medical device company’s stock valued at $24,756,000 after buying an additional 766,909 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of K2M Group Holdings by 11.7% in the second quarter. Vanguard Group Inc. now owns 994,025 shares of the medical device company’s stock valued at $15,427,000 after buying an additional 104,312 shares during the last quarter. Schroder Investment Management Group boosted its stake in shares of K2M Group Holdings by 33.1% in the second quarter. Schroder Investment Management Group now owns 802,966 shares of the medical device company’s stock valued at $12,462,000 after buying an additional 199,500 shares during the last quarter. Finally, BlackRock Fund Advisors boosted its stake in shares of K2M Group Holdings by 48.2% in the second quarter. BlackRock Fund Advisors now owns 789,654 shares of the medical device company’s stock valued at $12,255,000 after buying an additional 256,673 shares during the last quarter. 62.37% of the stock is currently owned by institutional investors.

K2M Group Holdings Company Profile

K2M Group Holdings, Inc is a medical device company focused on designing, developing and commercializing spine technologies and techniques. The Company’s spine products are used by spine surgeons to treat spinal pathologies, such as deformity (primarily scoliosis), trauma and tumor. The Company is engaged in designing, development and commercialization of products for patients suffering from degenerative spinal conditions.

5 Day Chart for NASDAQ:KTWO

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