K2M Group Holdings (KTWO) Expected to Post Quarterly Sales of $65.85 Million

Analysts expect that K2M Group Holdings (NASDAQ:KTWO) will report sales of $65.85 million for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for K2M Group’s earnings. The highest sales estimate is $65.90 million and the lowest is $65.80 million. K2M Group posted sales of $61.89 million during the same quarter last year, which indicates a positive year over year growth rate of 6.4%. The company is scheduled to announce its next earnings results after the market closes on Tuesday, May 1st.

On average, analysts expect that K2M Group will report full year sales of $282.22 million for the current year, with estimates ranging from $281.70 million to $282.50 million. For the next year, analysts expect that the firm will post sales of $309.45 million per share, with estimates ranging from $307.70 million to $310.70 million. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for K2M Group.

K2M Group (NASDAQ:KTWO) last issued its earnings results on Wednesday, February 28th. The medical device company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.01). The company 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 business’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter last year, the company posted ($0.30) EPS.

KTWO has been the topic of a number of recent analyst reports. Zacks Investment Research lowered shares of K2M Group from a “hold” rating to a “sell” rating in a research note on Tuesday, January 9th. Needham & Company LLC upped their target price on shares of K2M Group from $20.00 to $23.00 and gave the company a “buy” rating in a research note on Tuesday, January 9th. BidaskClub upgraded shares of K2M Group from a “hold” rating to a “buy” rating in a research note on Wednesday, March 7th. Barclays restated a “buy” rating and issued a $25.00 target price on shares of K2M Group in a research note on Tuesday, January 9th. Finally, Oppenheimer set a $24.00 target price on shares of K2M Group and gave the company a “buy” rating in a research note on Thursday, March 1st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $24.50.

Shares of K2M Group stock traded up $0.24 during trading on Wednesday, reaching $19.37. The company had a trading volume of 189,476 shares, compared to its average volume of 181,610. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.52 and a current ratio of 2.84. K2M Group has a fifty-two week low of $16.44 and a fifty-two week high of $25.99.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. MetLife Investment Advisors LLC acquired a new stake in K2M Group during the fourth quarter worth about $350,000. Two Sigma Investments LP raised its stake in K2M Group by 35.7% during the fourth quarter. Two Sigma Investments LP now owns 201,918 shares of the medical device company’s stock worth $3,635,000 after acquiring an additional 53,126 shares during the period. Folger Hill Asset Management LP acquired a new stake in K2M Group during the fourth quarter worth about $1,080,000. TimesSquare Capital Management LLC raised its stake in K2M Group by 1.6% during the fourth quarter. TimesSquare Capital Management LLC now owns 2,532,675 shares of the medical device company’s stock worth $45,588,000 after acquiring an additional 38,715 shares during the period. Finally, Sectoral Asset Management Inc raised its stake in K2M Group by 29.9% during the fourth quarter. Sectoral Asset Management Inc now owns 1,164,412 shares of the medical device company’s stock worth $20,959,000 after acquiring an additional 267,698 shares during the period. Hedge funds and other institutional investors own 99.32% of the company’s stock.

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K2M Group Company Profile

K2M Group Holdings, Inc, a medical device company, provides spine and minimally invasive solutions in the United States and internationally. The company offers implants, disposables, and instruments primarily to hospitals for use by spine surgeons to treat spinal pathologies, such as deformity, trauma, and tumor.

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Earnings History and Estimates for K2M Group (NASDAQ:KTWO)

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