K2M Group Holdings’ (KTWO) “Outperform” Rating Reaffirmed at JMP Securities

JMP Securities reissued their outperform rating on shares of K2M Group Holdings, Inc. (NASDAQ:KTWO) in a research report released on Tuesday. The brokerage currently has a $25.00 price objective on the medical device company’s stock, down from their previous price objective of $30.00.

Other analysts have also issued research reports about the company. Oppenheimer Holdings, Inc. reiterated a buy rating on shares of K2M Group Holdings in a report on Thursday, June 22nd. UBS AG reiterated a buy rating and set a $24.00 target price (down previously from $26.00) on shares of K2M Group Holdings in a report on Tuesday. Wells Fargo & Company dropped their price objective on K2M Group Holdings from $28.00 to $23.00 and set an outperform rating on the stock in a research note on Tuesday. Piper Jaffray Companies restated an overweight rating and issued a $28.00 price objective on shares of K2M Group Holdings in a research note on Tuesday. Finally, William Blair restated an outperform rating on shares of K2M Group Holdings in a research note on Tuesday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of Buy and an average price target of $25.60.

K2M Group Holdings (KTWO) opened at 18.01 on Tuesday. The stock’s 50 day moving average price is $21.94 and its 200-day moving average price is $22.52. The firm’s market cap is $779.26 million. K2M Group Holdings has a one year low of $16.32 and a one year 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. K2M Group Holdings had a negative return on equity of 15.45% and a negative net margin of 16.21%. The business had revenue of $65.70 million for the quarter, compared to analyst estimates of $66.26 million. During the same quarter in the prior year, the company posted ($0.27) earnings per share. K2M Group Holdings’s revenue was up 11.0% on a year-over-year basis. Analysts forecast that K2M Group Holdings will post ($0.81) earnings per share for the current year.

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In other news, CFO Gregory S. Cole sold 39,357 shares of the company’s stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $23.37, for a total value of $919,773.09. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Gregory S. Cole sold 2,350 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $24.08, for a total value of $56,588.00. Following the completion of the transaction, the chief financial officer now directly owns 55,158 shares in the company, valued at approximately $1,328,204.64. The disclosure for this sale can be found here. Insiders sold 44,129 shares of company stock worth $1,033,644 in the last 90 days. Corporate insiders own 5.80% of the company’s stock.

Several institutional investors have recently bought and sold shares of KTWO. BNP Paribas Arbitrage SA grew its position in shares of K2M Group Holdings by 5,175.3% in the second quarter. BNP Paribas Arbitrage SA now owns 4,484 shares of the medical device company’s stock valued at $109,000 after purchasing an additional 4,399 shares during the last quarter. Legal & General Group Plc grew its position 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 valued at $138,000 after purchasing an additional 564 shares during the last quarter. Dorsey & Whitney Trust CO LLC acquired a new position in shares of K2M Group Holdings in the second quarter valued at approximately $211,000. American International Group Inc. grew its position 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 valued at $325,000 after purchasing an additional 1,047 shares during the last quarter. Finally, Symphony Asset Management LLC acquired a new position in shares of K2M Group Holdings in the second quarter valued at approximately $351,000. 97.86% of the stock is currently owned by institutional investors.

About K2M Group Holdings

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.

Analyst Recommendations for K2M Group Holdings (NASDAQ:KTWO)

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