Wall Street brokerages predict that K2M Group Holdings Inc (NASDAQ:KTWO) will post $70.90 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for K2M Group’s earnings, with estimates ranging from $70.00 million to $71.70 million. K2M Group reported sales of $65.69 million in the same quarter last year, which indicates a positive year over year growth rate of 7.9%. The firm is scheduled to announce its next quarterly earnings results on Tuesday, August 7th.
On average, analysts expect that K2M Group will report full-year sales of $284.59 million for the current year, with estimates ranging from $284.00 million to $284.97 million. For the next year, analysts anticipate that the firm will report sales of $313.84 million per share, with estimates ranging from $312.31 million to $316.80 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that that provide coverage for K2M Group.
K2M Group (NASDAQ:KTWO) last issued its quarterly earnings data on Tuesday, May 1st. The medical device company reported ($0.26) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.22) by ($0.04). The company had revenue of $67.90 million for the quarter, compared to the consensus estimate of $66.02 million. K2M Group had a negative net margin of 14.27% and a negative return on equity of 15.38%. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter last year, the company earned ($0.26) EPS.
Several research firms have weighed in on KTWO. ValuEngine upgraded shares of K2M Group from a “sell” rating to a “hold” rating in a research report on Wednesday, May 2nd. Needham & Company LLC reiterated a “buy” rating and issued a $23.00 price target on shares of K2M Group in a research report on Wednesday, May 2nd. Oppenheimer set a $24.00 price target on shares of K2M Group and gave the stock a “buy” rating in a research report on Wednesday, May 2nd. BidaskClub upgraded shares of K2M Group from a “buy” rating to a “strong-buy” rating in a research report on Thursday, May 24th. Finally, Cantor Fitzgerald began coverage on shares of K2M Group in a research report on Thursday, May 31st. They issued an “overweight” rating and a $28.00 price target on the stock. Three research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. K2M Group currently has an average rating of “Buy” and a consensus price target of $24.82.
K2M Group traded down $0.01, hitting $22.50, during trading on Tuesday, according to Marketbeat. The company’s stock had a trading volume of 443,964 shares, compared to its average volume of 380,784. The company has a current ratio of 2.79, a quick ratio of 1.38 and a debt-to-equity ratio of 0.34. K2M Group has a one year low of $16.44 and a one year high of $25.99. The company has a market capitalization of $976.41 million, a PE ratio of -25.86 and a beta of 1.55.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Swiss National Bank increased its stake in shares of K2M Group by 11.7% in the fourth quarter. Swiss National Bank now owns 62,200 shares of the medical device company’s stock worth $1,120,000 after purchasing an additional 6,500 shares in the last quarter. Sectoral Asset Management Inc grew 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 valued at $20,959,000 after acquiring an additional 267,698 shares in the last quarter. Schwab Charles Investment Management Inc. grew its stake in K2M Group by 7.1% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 196,425 shares of the medical device company’s stock valued at $3,536,000 after acquiring an additional 13,007 shares in the last quarter. ARK Investment Management LLC grew its stake in K2M Group by 70.7% during the fourth quarter. ARK Investment Management LLC now owns 129,738 shares of the medical device company’s stock valued at $2,335,000 after acquiring an additional 53,732 shares in the last quarter. Finally, BlackRock Inc. grew its stake in K2M Group by 3.6% during the fourth quarter. BlackRock Inc. now owns 2,794,420 shares of the medical device company’s stock valued at $50,299,000 after acquiring an additional 97,898 shares in the last quarter.
About K2M Group
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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