Prudential Financial Inc. purchased a new stake in shares of K2M Group Holdings, Inc. (NASDAQ:KTWO) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 270,730 shares of the medical device company’s stock, valued at approximately $6,595,000. Prudential Financial Inc. owned about 0.63% of K2M Group Holdings at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. TimesSquare Capital Management LLC increased its position in shares of K2M Group Holdings by 44.0% during the first quarter. TimesSquare Capital Management LLC now owns 2,197,020 shares of the medical device company’s stock valued at $45,061,000 after acquiring an additional 671,120 shares during the last quarter. Wellington Management Group LLP increased its position in K2M Group Holdings by 10.4% in the first quarter. Wellington Management Group LLP now owns 1,875,913 shares of the medical device company’s stock worth $38,475,000 after buying an additional 175,998 shares during the last quarter. Schroder Investment Management Group increased its position in K2M Group Holdings by 5.9% in the first quarter. Schroder Investment Management Group now owns 1,535,669 shares of the medical device company’s stock worth $31,443,000 after buying an additional 85,476 shares during the last quarter. JPMorgan Chase & Co. increased its position in K2M Group Holdings by 54.3% in the first quarter. JPMorgan Chase & Co. now owns 1,409,360 shares of the medical device company’s stock worth $28,906,000 after buying an additional 495,749 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in K2M Group Holdings by 13.8% in the first quarter. Vanguard Group Inc. now owns 1,379,090 shares of the medical device company’s stock worth $28,285,000 after buying an additional 167,036 shares during the last quarter. 97.77% of the stock is owned by institutional investors.

In other news, CFO Gregory S. Cole sold 2,350 shares of the company’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $24.08, for a total value of $56,588.00. Following the completion of the sale, the chief financial officer now directly owns 55,158 shares in the company, valued at approximately $1,328,204.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John Philip Md Kostuik sold 1,332 shares of the company’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $23.30, for a total value of $31,035.60. Following the completion of the sale, the insider now owns 200,629 shares of the company’s stock, valued at $4,674,655.70. The disclosure for this sale can be found here. Insiders have sold a total of 45,085 shares of company stock worth $1,056,903 over the last three months. Insiders own 5.80% of the company’s stock.

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A number of analysts have issued reports on KTWO shares. Oppenheimer Holdings, Inc. reissued a “buy” rating on shares of K2M Group Holdings in a research report on Thursday, June 22nd. JMP Securities reissued an “outperform” rating and issued a $30.00 target price (up from $27.00) on shares of K2M Group Holdings in a research report on Wednesday, June 28th. Cowen and Company reissued a “buy” rating and issued a $26.00 target price on shares of K2M Group Holdings in a research report on Wednesday, July 19th. BidaskClub raised K2M Group Holdings from a “hold” rating to a “buy” rating in a research report on Wednesday, July 19th. Finally, Royal Bank Of Canada reissued a “buy” rating and issued a $26.00 target price on shares of K2M Group Holdings in a research report on Thursday, July 20th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $27.14.

Shares of K2M Group Holdings, Inc. (KTWO) opened at 20.66 on Friday. The stock’s market capitalization is $893.92 million. The firm has a 50-day moving average price of $23.15 and a 200-day moving average price of $22.35. K2M Group Holdings, Inc. has a 52-week low of $16.32 and a 52-week high of $25.99.

K2M Group Holdings (NASDAQ:KTWO) last released its quarterly earnings results on Tuesday, August 1st. The medical device company reported ($0.21) earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.01. The firm had revenue of $65.70 million for 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 company’s revenue was up 11.0% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.27) EPS. On average, analysts predict that K2M Group Holdings, Inc. will post ($0.78) EPS for the current year.

K2M Group Holdings 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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Institutional Ownership by Quarter for K2M Group Holdings (NASDAQ:KTWO)

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