Point72 Asset Management L.P. Has $4 Million Position in K2M Group Holdings Inc (NASDAQ:KTWO)

Point72 Asset Management L.P. lessened its holdings in K2M Group Holdings Inc (NASDAQ:KTWO) by 74.6% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 188,700 shares of the medical device company’s stock after selling 553,900 shares during the period. Point72 Asset Management L.P. owned 0.44% of K2M Group worth $4,002,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. TimesSquare Capital Management LLC increased its stake in K2M Group by 31.5% in the 2nd quarter. TimesSquare Capital Management LLC now owns 2,888,020 shares of the medical device company’s stock worth $70,352,000 after buying an additional 691,000 shares in the last quarter. Cortina Asset Management LLC increased its stake in K2M Group by 5.5% in the 3rd quarter. Cortina Asset Management LLC now owns 1,736,285 shares of the medical device company’s stock worth $36,827,000 after buying an additional 90,365 shares in the last quarter. Schroder Investment Management Group increased its stake in K2M Group by 0.9% in the 3rd quarter. Schroder Investment Management Group now owns 1,574,831 shares of the medical device company’s stock worth $32,552,000 after buying an additional 14,491 shares in the last quarter. Vanguard Group Inc. increased its stake in K2M Group by 12.4% in the 2nd quarter. Vanguard Group Inc. now owns 1,550,592 shares of the medical device company’s stock worth $37,772,000 after buying an additional 171,502 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in K2M Group by 4.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,031,404 shares of the medical device company’s stock worth $21,318,000 after buying an additional 48,297 shares in the last quarter. Institutional investors and hedge funds own 97.95% of the company’s stock.

K2M Group Holdings Inc (KTWO) traded up $0.33 on Thursday, hitting $20.57. 279,144 shares of the company’s stock traded hands, compared to its average volume of 423,581. 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 Holdings Inc has a twelve month low of $16.44 and a twelve month high of $25.99. The company has a market cap of $876.10, a P/E ratio of -21.43 and a beta of 1.34.

K2M Group (NASDAQ:KTWO) last announced its quarterly earnings results on Wednesday, November 1st. The medical device company reported ($0.20) EPS for the quarter, missing the Zacks’ 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 business had revenue of $62.65 million during the quarter, compared to the consensus estimate of $62.69 million. During the same period in the previous year, the business posted ($0.19) EPS. The firm’s revenue was up 5.6% on a year-over-year basis. analysts forecast that K2M Group Holdings Inc will post -0.85 earnings per share for the current year.

KTWO has been the subject of a number of analyst reports. Zacks Investment Research upgraded K2M Group from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a research note on Wednesday, October 4th. Needham & Company LLC dropped their price objective on shares of K2M Group from $27.00 to $26.00 and set a “strong-buy” rating for the company in a report on Thursday, November 2nd. Wells Fargo & Co dropped their price objective on shares of K2M Group from $28.00 to $23.00 and set an “outperform” rating for the company in a report on Tuesday, October 10th. Oppenheimer reissued a “buy” rating and set a $24.00 price objective on shares of K2M Group in a report on Friday, November 10th. Finally, Cowen reissued an “outperform” rating and set a $22.00 price objective (down previously from $28.00) on shares of K2M Group in a report on Tuesday, October 10th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and ten have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $24.50.

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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.

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

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