Wells Fargo & Company lowered shares of K2M Group (NASDAQ:KTWO) from an outperform rating to a market perform rating in a report published on Monday morning, MarketBeat reports. The brokerage currently has $23.00 target price on the medical device company’s stock.

Several other equities research analysts have also weighed in on KTWO. Cowen set a $28.00 price objective on K2M Group and gave the company a buy rating in a research note on Thursday, August 17th. William Blair reiterated an outperform rating on shares of K2M Group in a research note on Tuesday, October 10th. Piper Jaffray Companies reiterated an overweight rating and issued a $28.00 price objective on shares of K2M Group in a research note on Tuesday, October 10th. Oppenheimer set a $24.00 price objective on K2M Group and gave the company a buy rating in a research note on Wednesday, October 18th. Finally, JMP Securities reiterated an outperform rating and issued a $25.00 price objective (down from $30.00) on shares of K2M Group in a research note on Tuesday, October 10th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of Buy and an average price target of $25.00.

K2M Group (NASDAQ KTWO) opened at $17.08 on Monday. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.06 and a quick ratio of 1.67. K2M Group has a twelve month low of $17.06 and a twelve month high of $25.99.

K2M Group (NASDAQ:KTWO) last released its quarterly earnings data on Wednesday, November 1st. The medical device company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.01). K2M Group had a negative net margin of 16.22% and a negative return on equity of 16.02%. The company had revenue of $62.65 million during the quarter, compared to the consensus estimate of $62.69 million. During the same quarter in the prior year, the company posted ($0.19) earnings per share. The company’s revenue for the quarter was up 5.6% on a year-over-year basis. sell-side analysts anticipate that K2M Group will post -0.86 EPS for the current fiscal year.

Large investors have recently bought and sold shares of the business. Teachers Advisors LLC lifted its stake in shares of K2M Group by 3.0% in the 1st quarter. Teachers Advisors LLC now owns 43,823 shares of the medical device company’s stock valued at $899,000 after purchasing an additional 1,286 shares during the period. Legal & General Group Plc raised its stake in K2M Group by 9.1% during the 1st quarter. Legal & General Group Plc now owns 6,763 shares of the medical device company’s stock worth $138,000 after buying an additional 564 shares during the period. Vanguard Group Inc. raised its stake in K2M Group by 13.8% during the 1st 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 period. Geode Capital Management LLC raised its stake in K2M Group by 10.7% during the 1st quarter. Geode Capital Management LLC now owns 275,498 shares of the medical device company’s stock worth $5,650,000 after buying an additional 26,578 shares during the period. Finally, Schwab Charles Investment Management Inc. raised its stake in K2M Group by 5.7% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 131,780 shares of the medical device company’s stock worth $2,703,000 after buying an additional 7,152 shares during the period. 99.16% of the stock is currently owned by hedge funds and other institutional investors.

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About K2M Group

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.

Analyst Recommendations for K2M Group (NASDAQ:KTWO)

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