Equities research analysts at Royal Bank Of Canada initiated coverage on shares of K2M Group Holdings Inc. (NASDAQ:KTWO) in a report released on Monday. The firm set an “outperform” rating and a $23.00 price target on the medical device company’s stock. Royal Bank Of Canada’s price objective suggests a potential upside of 25.00% from the stock’s current price.

KTWO has been the subject of a number of other reports. Oppenheimer Holdings Inc. restated an “outperform” rating and issued a $23.00 target price on shares of K2M Group Holdings in a research note on Friday, August 5th. Wells Fargo & Co. restated a “buy” rating on shares of K2M Group Holdings in a research note on Sunday, September 11th. Needham & Company LLC restated a “strong-buy” rating and issued a $22.00 target price (up from $21.00) on shares of K2M Group Holdings in a research note on Friday, August 5th. Barclays PLC raised their target price on K2M Group Holdings from $20.00 to $22.00 and gave the company an “overweight” rating in a research note on Thursday, August 4th. Finally, Zacks Investment Research upgraded K2M Group Holdings from a “sell” rating to a “hold” rating in a research note on Tuesday, August 9th. One research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $22.00.

Analyst Recommendations for K2M Group Holdings (NASDAQ:KTWO)

Shares of K2M Group Holdings (NASDAQ:KTWO) opened at 18.40 on Monday. The stock’s market capitalization is $775.47 million. The firm’s 50-day moving average is $16.94 and its 200-day moving average is $15.45. K2M Group Holdings has a 1-year low of $10.10 and a 1-year high of $21.67.

K2M Group Holdings (NASDAQ:KTWO) last announced its earnings results on Wednesday, August 3rd. The medical device company reported ($0.27) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.28) by $0.01. K2M Group Holdings had a negative return on equity of 12.90% and a negative net margin of 17.79%. The company earned $59.20 million during the quarter, compared to analyst estimates of $57.47 million. During the same period last year, the company posted ($0.16) earnings per share. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. On average, analysts predict that K2M Group Holdings will post ($1.09) earnings per share for the current fiscal year.

Institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp boosted its position in shares of K2M Group Holdings by 0.3% in the second quarter. Bank of New York Mellon Corp now owns 139,850 shares of the medical device company’s stock worth $2,171,000 after buying an additional 401 shares during the period. AQR Capital Management LLC boosted its position in shares of K2M Group Holdings by 8.0% in the second quarter. AQR Capital Management LLC now owns 19,413 shares of the medical device company’s stock worth $301,000 after buying an additional 1,434 shares during the period. UBS Asset Management Americas Inc. boosted its position in shares of K2M Group Holdings by 0.4% in the first quarter. UBS Asset Management Americas Inc. now owns 425,606 shares of the medical device company’s stock worth $6,312,000 after buying an additional 1,596 shares during the period. Metropolitan Life Insurance Co. NY boosted its position in shares of K2M Group Holdings by 15.1% in the first quarter. Metropolitan Life Insurance Co. NY now owns 14,399 shares of the medical device company’s stock worth $214,000 after buying an additional 1,886 shares during the period. Finally, Candriam Luxembourg S.C.A. boosted its position in shares of K2M Group Holdings by 3.0% in the second quarter. Candriam Luxembourg S.C.A. now owns 68,000 shares of the medical device company’s stock worth $1,055,000 after buying an additional 2,000 shares during the period. Hedge funds and other institutional investors own 62.37% of the company’s stock.

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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