BidaskClub lowered shares of K2M Group (NASDAQ:KTWO) from a buy rating to a hold rating in a research note published on Wednesday.
Several other research firms have also issued reports on KTWO. Cowen set a $28.00 target price on K2M Group and gave the stock a buy rating in a report on Thursday, August 17th. William Blair reiterated an outperform rating on shares of K2M Group in a report on Tuesday, October 10th. Piper Jaffray Companies reiterated an overweight rating and set a $28.00 target price on shares of K2M Group in a report on Tuesday, October 10th. Oppenheimer set a $24.00 target price on K2M Group and gave the stock a buy rating in a report on Wednesday, October 18th. Finally, JMP Securities reiterated an outperform rating and set a $25.00 target price (down previously from $30.00) on shares of K2M Group in a report on Tuesday, October 10th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the company’s stock. K2M Group presently has an average rating of Buy and an average price target of $24.40.
K2M Group (NASDAQ:KTWO) traded up $0.11 during mid-day trading on Wednesday, hitting $17.19. The stock had a trading volume of 589,517 shares, compared to its average volume of 270,781. The company has a quick ratio of 1.67, a current ratio of 3.06 and a debt-to-equity ratio of 0.29. K2M Group has a 52 week low of $16.44 and a 52 week high of $25.99.
K2M Group (NASDAQ:KTWO) last posted 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). The firm had revenue of $62.65 million for the quarter, compared to analyst estimates of $62.69 million. K2M Group had a negative return on equity of 16.02% and a negative net margin of 16.22%. The firm’s quarterly revenue was up 5.6% on a year-over-year basis. During the same period in the prior year, the company earned ($0.19) earnings per share. equities research analysts anticipate that K2M Group will post -0.86 EPS for the current fiscal year.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. raised its stake in K2M Group by 82.3% in the second quarter. Goldman Sachs Group Inc. now owns 211,585 shares of the medical device company’s stock valued at $5,154,000 after buying an additional 95,548 shares during the period. Artemis Investment Management LLP raised its stake in K2M Group by 255.4% in the second quarter. Artemis Investment Management LLP now owns 316,703 shares of the medical device company’s stock valued at $7,716,000 after buying an additional 227,582 shares during the period. Ameriprise Financial Inc. bought a new stake in K2M Group in the second quarter valued at approximately $1,664,000. Schroder Investment Management Group raised its stake in K2M Group by 1.6% in the second quarter. Schroder Investment Management Group now owns 1,560,340 shares of the medical device company’s stock valued at $37,401,000 after buying an additional 24,671 shares during the period. Finally, Voya Investment Management LLC raised its stake in K2M Group by 67.5% in the second quarter. Voya Investment Management LLC now owns 17,995 shares of the medical device company’s stock valued at $438,000 after buying an additional 7,251 shares during the period. Institutional investors and hedge funds own 99.16% of the company’s stock.
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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.
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