Nicholas Investment Partners LP lowered its position in K2M Group Holdings Inc (NASDAQ:KTWO) by 26.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 148,968 shares of the medical device company’s stock after selling 54,014 shares during the quarter. Nicholas Investment Partners LP owned 0.34% of K2M Group worth $2,681,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently modified their holdings of the company. Cubist Systematic Strategies LLC increased its holdings in K2M Group by 7,765.0% in the third quarter. Cubist Systematic Strategies LLC now owns 4,719 shares of the medical device company’s stock valued at $100,000 after buying an additional 4,659 shares during the last quarter. Trexquant Investment LP bought a new position in shares of K2M Group during the third quarter valued at approximately $223,000. Quantbot Technologies LP grew its holdings in shares of K2M Group by 275.9% during the third quarter. Quantbot Technologies LP now owns 10,593 shares of the medical device company’s stock valued at $224,000 after purchasing an additional 7,775 shares during the last quarter. Teacher Retirement System of Texas acquired a new position in shares of K2M Group during the fourth quarter worth approximately $213,000. Finally, Oppenheimer Asset Management Inc. acquired a new position in shares of K2M Group during the third quarter worth approximately $347,000. Hedge funds and other institutional investors own 99.76% of the company’s stock.
Several research analysts have issued reports on the company. Needham & Company LLC upped their price target on K2M Group from $20.00 to $23.00 and gave the company a “buy” rating in a report on Tuesday, January 9th. BidaskClub raised shares of K2M Group from a “hold” rating to a “buy” rating in a research note on Wednesday, January 10th. Wells Fargo & Co downgraded shares of K2M Group from an “outperform” rating to a “market perform” rating and set a $23.00 price target on the stock. in a research note on Monday, December 4th. Zacks Investment Research upgraded shares of K2M Group from a “sell” rating to a “hold” rating in a report on Thursday, January 25th. Finally, Oppenheimer set a $24.00 price objective on shares of K2M Group and gave the stock a “buy” rating in a report on Thursday, March 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the stock. K2M Group currently has an average rating of “Buy” and an average target price of $24.50.
Shares of K2M Group Holdings Inc (NASDAQ KTWO) traded up $0.65 during trading hours on Friday, hitting $20.87. 215,669 shares of the company were exchanged, compared to its average volume of 305,947. K2M Group Holdings Inc has a fifty-two week low of $16.44 and a fifty-two week high of $25.99. The company has a current ratio of 2.84, a quick ratio of 1.52 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $858.65, a price-to-earnings ratio of -23.24 and a beta of 1.42.
K2M Group (NASDAQ:KTWO) last issued its quarterly earnings results on Wednesday, February 28th. The medical device company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.01). The business had revenue of $67.80 million during the quarter, compared to analyst estimates of $67.36 million. K2M Group had a negative net margin of 14.40% and a negative return on equity of 14.85%. The firm’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.30) earnings per share. equities analysts predict that K2M Group Holdings Inc will post -0.72 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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