K2M Group Holdings Inc (NASDAQ:KTWO)‘s stock had its “buy” rating restated by analysts at Cowen and Company in a note issued to investors on Wednesday, July 19th. They currently have a $26.00 price objective on the medical device company’s stock. Cowen and Company’s price target would indicate a potential upside of 8.13% from the stock’s current price.
Several other analysts have also issued reports on the company. Oppenheimer Holdings, Inc. reissued a “buy” rating on shares of K2M Group Holdings in a report on Tuesday, July 11th. JMP Securities reissued an “outperform” rating and set a $30.00 target price (up from $27.00) on shares of K2M Group Holdings in a report on Wednesday, June 28th. TheStreet raised K2M Group Holdings from a “d+” rating to a “c” rating in a research note on Monday, May 8th. Royal Bank Of Canada reaffirmed a “buy” rating on shares of K2M Group Holdings in a research note on Wednesday, May 3rd. Finally, Barclays PLC raised their price objective on K2M Group Holdings from $26.00 to $27.00 and gave the company an “overweight” rating in a research note on Monday, April 24th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $26.25.
Shares of K2M Group Holdings (NASDAQ KTWO) traded down 0.021% during midday trading on Wednesday, hitting $24.045. 377,686 shares of the stock were exchanged. The firm has a 50 day moving average of $24.04 and a 200 day moving average of $21.99. The firm’s market cap is $1.04 billion. K2M Group Holdings has a 12-month low of $15.45 and a 12-month high of $25.99.
K2M Group Holdings (NASDAQ:KTWO) last released its earnings results on Tuesday, August 1st. The medical device company reported ($0.21) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.22) by $0.01. The company had revenue of $65.70 million for the quarter, compared to analyst estimates of $66.26 million. K2M Group Holdings had a negative return on equity of 14.26% and a negative net margin of 13.79%. K2M Group Holdings’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.27) EPS. Equities analysts forecast that K2M Group Holdings will post ($0.78) EPS for the current fiscal year.
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In other K2M Group Holdings news, insider John Philip Md Kostuik sold 1,090 shares of K2M Group Holdings stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $24.08, for a total value of $26,247.20. Following the completion of the sale, the insider now directly owns 201,961 shares in the company, valued at $4,863,220.88. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Gregory S. Cole sold 42,947 shares of K2M Group Holdings stock in a transaction that occurred on Friday, June 16th. The stock was sold at an average price of $22.80, for a total value of $979,191.60. Following the completion of the sale, the chief financial officer now owns 87,425 shares of the company’s stock, valued at $1,993,290. The disclosure for this sale can be found here. Insiders have sold 136,700 shares of company stock valued at $3,140,059 over the last 90 days. 5.80% of the stock is owned by corporate insiders.
Large investors have recently made changes to their positions in the stock. 1st Global Advisors Inc. boosted its stake in shares of K2M Group Holdings by 2.9% in the first quarter. 1st Global Advisors Inc. now owns 13,101 shares of the medical device company’s stock worth $269,000 after buying an additional 369 shares during the period. Legal & General Group Plc boosted its stake in shares of K2M Group Holdings by 9.1% in the first quarter. Legal & General Group Plc now owns 6,763 shares of the medical device company’s stock worth $138,000 after buying an additional 564 shares during the period. Macquarie Group Ltd. boosted its stake in shares of K2M Group Holdings by 0.3% in the second quarter. Macquarie Group Ltd. now owns 200,656 shares of the medical device company’s stock worth $4,888,000 after buying an additional 581 shares during the period. Wells Fargo & Company MN boosted its stake in shares of K2M Group Holdings by 0.9% in the second quarter. Wells Fargo & Company MN now owns 63,322 shares of the medical device company’s stock worth $1,542,000 after buying an additional 590 shares during the period. Finally, American International Group Inc. boosted its stake in shares of K2M Group Holdings by 7.1% in the first quarter. American International Group Inc. now owns 15,847 shares of the medical device company’s stock worth $325,000 after buying an additional 1,047 shares during the period. 98.55% of the stock is owned by hedge funds and other institutional investors.
K2M Group Holdings 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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