K2M Group Holdings, Inc. (KTWO) Lifted to “Buy” at Zacks Investment Research
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. Zacks Investment Research currently has $25.00 price target 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. “
Other research analysts have also recently issued research reports about the company. Oppenheimer Holdings, Inc. reissued a buy rating on shares of K2M Group Holdings in a research note on Thursday, June 22nd. Royal Bank Of Canada reissued a buy rating and issued a $26.00 price target on shares of K2M Group Holdings in a research note on Thursday, July 20th. BidaskClub raised K2M Group Holdings from a hold rating to a buy rating in a research note on Wednesday, July 19th. Cowen and Company reissued a buy rating and issued a $26.00 price target on shares of K2M Group Holdings in a research note on Wednesday, July 19th. Finally, Piper Jaffray Companies reissued a buy rating and issued a $28.00 price target on shares of K2M Group Holdings in a research note on Thursday, September 28th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company has an average rating of Buy and a consensus target price of $27.75.
Shares of K2M Group Holdings (NASDAQ:KTWO) opened at 21.78 on Wednesday. The firm’s market cap is $942.38 million. K2M Group Holdings has a 12-month low of $16.32 and a 12-month high of $25.99. The firm has a 50-day moving average price of $22.26 and a 200-day moving average price of $22.49.
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 (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.22) by $0.01. K2M Group Holdings had a negative return on equity of 15.45% and a negative net margin of 16.21%. The company had revenue of $65.70 million during the quarter, compared to analysts’ expectations of $66.26 million. During the same quarter in the prior year, the business posted ($0.27) earnings per share. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. On average, equities research analysts expect that K2M Group Holdings will post ($0.78) earnings per share for the current fiscal year.
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In related news, CFO Gregory S. Cole sold 2,350 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $24.08, for a total transaction of $56,588.00. Following the completion of the transaction, the chief financial officer now owns 55,158 shares of the company’s stock, valued at $1,328,204.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider John Philip Md Kostuik sold 1,332 shares of the firm’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $23.30, for a total value of $31,035.60. Following the transaction, the insider now directly owns 200,629 shares of the company’s stock, valued at approximately $4,674,655.70. The disclosure for this sale can be found here. Insiders have sold 44,129 shares of company stock valued at $1,033,644 in the last ninety days. Company insiders own 5.80% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA boosted its stake in K2M Group Holdings by 5,175.3% during the second quarter. BNP Paribas Arbitrage SA now owns 4,484 shares of the medical device company’s stock valued at $109,000 after buying an additional 4,399 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of K2M Group Holdings by 9.1% during the first quarter. Legal & General Group Plc now owns 6,763 shares of the medical device company’s stock valued at $138,000 after purchasing an additional 564 shares during the last quarter. Dorsey & Whitney Trust CO LLC purchased a new stake in shares of K2M Group Holdings during the second quarter valued at $211,000. Trexquant Investment LP purchased a new stake in shares of K2M Group Holdings during the first quarter valued at $250,000. Finally, Symphony Asset Management LLC purchased a new stake in shares of K2M Group Holdings during the second quarter valued at $351,000. 97.86% of the stock is owned by institutional investors and hedge funds.
About K2M Group Holdings
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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