Zacks Investment Research lowered shares of K2M Group (NASDAQ:KTWO) from a hold rating to a sell rating in a research report sent to investors on Tuesday, January 9th.
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. “
Several other research analysts have also issued reports on KTWO. Piper Jaffray Companies reissued an overweight rating and set a $28.00 target price on shares of K2M Group in a research note on Tuesday, October 10th. UBS Group reissued a buy rating and set a $24.00 target price (down from $26.00) on shares of K2M Group in a research note on Tuesday, October 10th. BidaskClub downgraded shares of K2M Group from a buy rating to a hold rating in a report on Wednesday, December 6th. William Blair restated an outperform rating on shares of K2M Group in a report on Tuesday, October 10th. Finally, Needham & Company LLC restated a strong-buy rating and set a $27.00 price objective (down previously from $29.00) on shares of K2M Group in a report on Monday, October 9th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus target price of $24.50.
K2M Group (KTWO) opened at $20.72 on Tuesday. The company has a current ratio of 3.06, a quick ratio of 1.67 and a debt-to-equity ratio of 0.29. K2M Group has a 12-month low of $16.44 and a 12-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 (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.19) by ($0.01). The company 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%. K2M Group’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.19) earnings per share. analysts forecast that K2M Group will post -0.85 EPS for the current fiscal year.
Institutional investors and hedge funds have recently made changes to their positions 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 purchasing an additional 95,548 shares in the last quarter. Ameriprise Financial Inc. purchased a new position in shares of K2M Group during the second quarter worth approximately $1,664,000. Prudential Financial Inc. raised its stake in shares of K2M Group by 12.3% during the third quarter. Prudential Financial Inc. now owns 303,930 shares of the medical device company’s stock worth $6,446,000 after acquiring an additional 33,200 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new position in shares of K2M Group during the third quarter worth approximately $347,000. Finally, Bank of New York Mellon Corp raised its stake in shares of K2M Group by 83.0% during the third 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. 98.86% of the stock is currently owned by institutional investors and hedge funds.
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K2M Group Company 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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