Wells Fargo & Company MN lifted its stake in shares of K2M Group Holdings Inc (NASDAQ:KTWO) by 50.1% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 95,070 shares of the medical device company’s stock after acquiring an additional 31,748 shares during the quarter. Wells Fargo & Company MN owned about 0.22% of K2M Group worth $2,017,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in KTWO. State Street Corp boosted its stake in shares of K2M Group by 39.8% during the 2nd quarter. State Street Corp now owns 713,257 shares of the medical device company’s stock worth $17,378,000 after acquiring an additional 203,067 shares in the last quarter. Sectoral Asset Management Inc boosted its stake in shares of K2M Group by 22.9% during the 2nd quarter. Sectoral Asset Management Inc now owns 1,028,219 shares of the medical device company’s stock worth $25,047,000 after acquiring an additional 191,699 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of K2M Group by 83.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 380,637 shares of the medical device company’s stock worth $8,073,000 after acquiring an additional 172,650 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of K2M Group by 12.4% during the 2nd quarter. Vanguard Group Inc. now owns 1,550,592 shares of the medical device company’s stock worth $37,772,000 after acquiring an additional 171,502 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in shares of K2M Group by 37.4% during the 2nd quarter. Northern Trust Corp now owns 550,856 shares of the medical device company’s stock worth $13,420,000 after acquiring an additional 149,826 shares in the last quarter. Institutional investors own 99.00% of the company’s stock.
Several research firms have recently issued reports on KTWO. ValuEngine downgraded K2M Group from a “hold” rating to a “sell” rating in a research note on Tuesday, October 10th. Needham & Company LLC decreased their price target on K2M Group from $27.00 to $26.00 and set a “strong-buy” rating for the company in a research note on Thursday, November 2nd. BidaskClub downgraded K2M Group from a “buy” rating to a “hold” rating in a research note on Wednesday, December 6th. Oppenheimer reiterated a “buy” rating and set a $24.00 price target on shares of K2M Group in a research note on Friday, November 10th. Finally, Barclays reiterated a “buy” rating and set a $25.00 price target on shares of K2M Group in a research note on Tuesday, January 9th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and ten have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $24.50.
Shares of K2M Group Holdings Inc (KTWO) opened at $20.36 on Wednesday. K2M Group Holdings Inc has a 52 week low of $16.44 and a 52 week high of $25.99. The firm has a market capitalization of $877.40, a P/E ratio of -20.99 and a beta of 1.35. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.67 and a current ratio of 3.06.
K2M Group (NASDAQ:KTWO) last announced its earnings results 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 business had revenue of $62.65 million for the quarter, compared to the consensus estimate of $62.69 million. During the same quarter in the previous year, the company earned ($0.19) EPS. K2M Group’s revenue for the quarter was up 5.6% compared to the same quarter last year. equities analysts forecast that K2M Group Holdings Inc will post -0.85 earnings per share for the current year.
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K2M Group 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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