Suffolk Capital Management LLC decreased its position in K2M Group Holdings Inc (NASDAQ:KTWO) by 35.4% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 33,033 shares of the medical device company’s stock after selling 18,124 shares during the period. Suffolk Capital Management LLC’s holdings in K2M Group were worth $595,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Cubist Systematic Strategies LLC raised its stake in shares of K2M Group by 7,765.0% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 4,719 shares of the medical device company’s stock worth $100,000 after purchasing an additional 4,659 shares in the last quarter. Rockefeller Financial Services Inc. bought a new stake in shares of K2M Group during the 3rd quarter worth approximately $105,000. Teacher Retirement System of Texas bought a new stake in shares of K2M Group during the 4th quarter worth approximately $213,000. Trexquant Investment LP bought a new stake in shares of K2M Group during the 3rd quarter worth approximately $223,000. Finally, Quantbot Technologies LP raised its stake in shares of K2M Group by 275.9% during the 3rd quarter. Quantbot Technologies LP now owns 10,593 shares of the medical device company’s stock worth $224,000 after purchasing an additional 7,775 shares in the last quarter. Hedge funds and other institutional investors own 98.88% of the company’s stock.
K2M Group Holdings Inc (NASDAQ:KTWO) opened at $19.33 on Friday. 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 Holdings Inc has a 1-year low of $16.44 and a 1-year high of $25.99.
A number of brokerages have recently issued reports on KTWO. Zacks Investment Research upgraded K2M Group from a “sell” rating to a “hold” rating in a research note on Thursday, January 25th. Barclays reiterated a “buy” rating and set a $25.00 price objective on shares of K2M Group in a research note on Tuesday, January 9th. Needham & Company LLC upped their price objective on K2M Group from $20.00 to $23.00 and gave the stock a “buy” rating in a research note on Tuesday, January 9th. BidaskClub upgraded K2M Group from a “hold” rating to a “buy” rating in a research note on Wednesday, January 10th. Finally, Piper Jaffray Companies reiterated a “buy” rating and set a $28.00 price objective on shares of K2M Group in a research note on Friday, November 3rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target 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.
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