K2M Group Holdings, Inc. (KTWO) Receives Average Recommendation of “Buy” from Brokerages
Shares of K2M Group Holdings, Inc. (NASDAQ:KTWO) have earned an average rating of “Buy” from the eleven analysts that are presently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $27.00.
KTWO has been the subject of a number of research analyst reports. Barclays PLC raised their target price on K2M Group Holdings from $26.00 to $27.00 and gave the company an “overweight” rating in a research note on Monday, April 24th. Royal Bank Of Canada restated a “buy” rating on shares of K2M Group Holdings in a research note on Wednesday, May 3rd. Oppenheimer Holdings, Inc. set a $26.00 target price on K2M Group Holdings and gave the company a “buy” rating in a research note on Wednesday, May 3rd. TheStreet upgraded K2M Group Holdings from a “d+” rating to a “c” rating in a research note on Monday, May 8th. Finally, JMP Securities restated an “outperform” rating and issued a $30.00 target price (up previously from $27.00) on shares of K2M Group Holdings in a research note on Wednesday, June 28th.
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K2M Group Holdings (NASDAQ KTWO) traded down 1.19% during midday trading on Friday, hitting $23.76. The stock had a trading volume of 287,804 shares. K2M Group Holdings has a 12 month low of $15.45 and a 12 month high of $25.99. The firm’s 50-day moving average price is $24.02 and its 200 day moving average price is $22.00. The company’s market cap is $1.03 billion.
K2M Group Holdings (NASDAQ:KTWO) last released its earnings results on Tuesday, August 1st. The medical device company reported ($0.21) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.22) by $0.01. The company had revenue of $65.70 million during the quarter, compared to analysts’ expectations of $66.26 million. K2M Group Holdings had a negative return on equity of 15.45% and a negative net margin of 16.21%. The firm’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter last year, the business posted ($0.27) EPS. On average, analysts expect that K2M Group Holdings will post ($0.78) earnings per share for the current fiscal year.
In related news, insider John Philip Md Kostuik sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 25th. The stock was sold at an average price of $22.70, for a total transaction of $1,135,000.00. Following the completion of the transaction, the insider now owns 199,107 shares of the company’s stock, valued at approximately $4,519,728.90. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Gregory S. Cole sold 39,357 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $23.37, for a total value of $919,773.09. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 136,700 shares of company stock valued at $3,140,059. 5.80% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. State Street Corp raised its position in K2M Group Holdings by 16.5% in the fourth quarter. State Street Corp now owns 463,758 shares of the medical device company’s stock worth $9,295,000 after buying an additional 65,691 shares during the period. Teachers Advisors LLC raised its stake in K2M Group Holdings by 4.3% in the fourth quarter. Teachers Advisors LLC now owns 42,537 shares of the medical device company’s stock worth $852,000 after buying an additional 1,755 shares during the last quarter. Macquarie Group Ltd. raised its stake in K2M Group Holdings by 13.4% in the fourth quarter. Macquarie Group Ltd. now owns 179,038 shares of the medical device company’s stock worth $3,588,000 after buying an additional 21,200 shares during the last quarter. Columbus Circle Investors raised its stake in K2M Group Holdings by 24.9% in the first quarter. Columbus Circle Investors now owns 583,037 shares of the medical device company’s stock worth $11,958,000 after buying an additional 116,071 shares during the last quarter. Finally, Simplex Trading LLC acquired a new stake in K2M Group Holdings during the first quarter worth approximately $187,000. 98.55% of the stock is 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 and minimally invasive technologies and techniques. The Company’s solutions are focused on achieving three-dimensional Total Body Balance. Its spine products are used by spine surgeons to treat spinal pathologies, such as deformity (primarily scoliosis), trauma and tumor.
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