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.
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.
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