RBC Capital Markets began coverage on shares of K2M Group Holdings Inc. (NASDAQ:KTWO) in a report released on Monday morning. The firm issued an outperform rating and a $23.00 target price on the medical device company’s stock.

A number of other equities research analysts have also recently weighed in on KTWO. Needham & Company LLC reaffirmed a buy rating on shares of K2M Group Holdings in a research note on Wednesday, June 22nd. Zacks Investment Research cut K2M Group Holdings from a hold rating to a sell rating in a research note on Wednesday, July 6th. Oppenheimer Holdings Inc. started coverage on K2M Group Holdings in a research note on Monday, July 18th. They issued a buy rating and a $23.00 price objective for the company. Barclays PLC lifted their price objective 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, Wells Fargo & Co. reaffirmed a buy rating on shares of K2M Group Holdings in a research note on Sunday, September 11th. One investment analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. K2M Group Holdings presently has a consensus rating of Buy and an average target price of $22.11.

Shares of K2M Group Holdings (NASDAQ:KTWO) traded down 1.46% on Monday, hitting $18.85. The stock had a trading volume of 152,218 shares. The firm’s 50-day moving average price is $17.01 and its 200 day moving average price is $15.53. K2M Group Holdings has a 52-week low of $10.10 and a 52-week high of $21.67. The firm’s market cap is $794.43 million.

K2M Group Holdings (NASDAQ:KTWO) last issued its quarterly earnings data 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 business earned $59.20 million during the quarter, compared to analysts’ expectations of $57.47 million. During the same period in the previous year, the firm posted ($0.16) earnings per share. The company’s revenue was up 5.0% on a year-over-year basis. On average, equities research analysts predict that K2M Group Holdings will post ($1.09) EPS for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its position 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 valued at $31,303,000 after buying an additional 649,694 shares during the last quarter. M&T Bank Corp acquired a new position in K2M Group Holdings during the first quarter valued at about $241,000. Schroder Investment Management Group boosted its position in 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 in the last quarter. Kennedy Capital Management Inc. acquired a new position in K2M Group Holdings during the first quarter valued at about $3,922,000. Finally, Bogle Investment Management L P DE acquired a new position in K2M Group Holdings during the first quarter valued at about $560,000. 62.37% of the stock is owned by hedge funds and other institutional investors.

About K2M Group Holdings

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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