Denver Investment Advisors LLC increased its position in shares of K2M Group Holdings, Inc. (NASDAQ:KTWO) by 6.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,235 shares of the medical device company’s stock after buying an additional 1,530 shares during the period. Denver Investment Advisors LLC owned about 0.06% of K2M Group Holdings worth $590,000 as of its most recent filing with the SEC.
Several other large investors also recently added to or reduced their stakes in the stock. TimesSquare Capital Management LLC raised its stake in K2M Group Holdings by 44.0% in the first quarter. TimesSquare Capital Management LLC now owns 2,197,020 shares of the medical device company’s stock worth $45,061,000 after buying an additional 671,120 shares during the period. Wellington Management Group LLP raised its stake in K2M Group Holdings by 10.4% in the first quarter. Wellington Management Group LLP now owns 1,875,913 shares of the medical device company’s stock worth $38,475,000 after buying an additional 175,998 shares during the period. Schroder Investment Management Group raised its stake in K2M Group Holdings by 5.9% in the first quarter. Schroder Investment Management Group now owns 1,535,669 shares of the medical device company’s stock worth $31,443,000 after buying an additional 85,476 shares during the period. JPMorgan Chase & Co. raised its stake in K2M Group Holdings by 54.3% in the first quarter. JPMorgan Chase & Co. now owns 1,409,360 shares of the medical device company’s stock worth $28,906,000 after buying an additional 495,749 shares during the period. Finally, Vanguard Group Inc. raised its stake in K2M Group Holdings by 13.8% in the first quarter. Vanguard Group Inc. now owns 1,379,090 shares of the medical device company’s stock worth $28,285,000 after buying an additional 167,036 shares during the period. 98.55% of the stock is owned by institutional investors.
K2M Group Holdings, Inc. (NASDAQ KTWO) opened at 23.45 on Friday. The company’s market cap is $1.01 billion. K2M Group Holdings, Inc. has a 52-week low of $15.45 and a 52-week high of $25.99. The firm’s 50-day moving average price is $24.00 and its 200-day moving average price is $22.03.
K2M Group Holdings (NASDAQ:KTWO) last released its quarterly earnings results on Tuesday, August 1st. The medical device company reported ($0.21) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.22) by $0.01. The company had revenue of $65.70 million during the quarter, compared to analyst estimates of $66.26 million. K2M Group Holdings had a negative return on equity of 15.45% and a negative net margin of 16.21%. The firm’s revenue was up 11.0% on a year-over-year basis. During the same quarter last year, the business posted ($0.27) earnings per share. On average, equities analysts anticipate that K2M Group Holdings, Inc. will post ($0.78) EPS for the current year.
A number of equities research analysts have recently weighed in on KTWO shares. Oppenheimer Holdings, Inc. set a $29.00 target price on K2M Group Holdings and gave the company a “buy” rating in a research note on Wednesday, August 2nd. JMP Securities reissued an “outperform” rating and issued a $30.00 target price (up previously from $27.00) on shares of K2M Group Holdings in a research note on Wednesday, June 28th. Royal Bank Of Canada reissued a “buy” rating and issued a $26.00 target price on shares of K2M Group Holdings in a research note on Thursday, July 20th. Cowen and Company set a $28.00 target price on K2M Group Holdings and gave the company a “buy” rating in a research note on Thursday. Finally, Needham & Company LLC reissued a “buy” rating on shares of K2M Group Holdings in a research note on Wednesday, August 2nd. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $26.50.
In related news, insider John Philip Md Kostuik sold 1,090 shares of K2M Group Holdings stock in a transaction dated 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 transaction, the insider now owns 201,961 shares in the company, valued at $4,863,220.88. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Gregory S. Cole sold 42,947 shares of K2M Group Holdings stock in a transaction dated 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 transaction, the chief financial officer now owns 87,425 shares of the company’s stock, valued at approximately $1,993,290. The disclosure for this sale can be found here. In the last quarter, insiders sold 136,700 shares of company stock valued at $3,140,059. 5.80% of the stock is currently owned by company insiders.
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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