Shares of K2M Group Holdings Inc. (NASDAQ:KTWO) dropped 1.6% during mid-day trading on Thursday . The stock traded as low as $16.73 and last traded at $16.79, with a volume of 322,833 shares. The stock had previously closed at $17.06.

KTWO has been the subject of several recent analyst reports. Piper Jaffray Cos. reiterated a “buy” rating on shares of K2M Group Holdings in a research note on Saturday, April 2nd. Needham & Company LLC restated a “buy” rating on shares of K2M Group Holdings in a research note on Wednesday, June 22nd. JMP Securities restated a “buy” rating and set a $22.00 target price on shares of K2M Group Holdings in a research note on Sunday, June 5th. Northland Securities downgraded K2M Group Holdings from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 3rd. Finally, Zacks Investment Research downgraded K2M Group Holdings from a “hold” rating to a “sell” rating in a research note on Wednesday, July 6th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $21.67.

The company has a 50 day moving average price of $15.24 and a 200 day moving average price of $14.25. The stock’s market capitalization is $711.88 million.

K2M Group Holdings (NASDAQ:KTWO) last announced its quarterly earnings results on Monday, May 2nd. The medical device company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by $0.02. During the same quarter in the previous year, the business posted ($0.37) earnings per share. The business earned $56.20 million during the quarter, compared to analysts’ expectations of $56 million. The firm’s revenue was up 11.7% on a year-over-year basis. Analysts expect that K2M Group Holdings Inc. will post ($1.10) earnings per share for the current fiscal year.

In other K2M Group Holdings news, Director Carlos A. Ferrer purchased 20,000 shares of the stock in a transaction on Thursday, May 5th. The shares were purchased at an average price of $11.32 per share, with a total value of $226,400.00. Following the completion of the transaction, the director now directly owns 59,382 shares in the company, valued at $672,204.24. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Gregory S. Cole sold 6,465 shares of the business’s stock in a transaction that occurred on Saturday, May 21st. The stock was sold at an average price of $11.32, for a total value of $73,183.80. Following the transaction, the chief financial officer now directly owns 33,233 shares in the company, valued at approximately $376,197.56. The disclosure for this sale can be found here.

Several large investors have recently modified their holdings of the company. Nationwide Fund Advisors boosted its stake in shares of K2M Group Holdings by 3.8% in the fourth quarter. Nationwide Fund Advisors now owns 98,318 shares of the medical device company’s stock worth $1,941,000 after buying an additional 3,597 shares in the last quarter. New York State Common Retirement Fund boosted its stake in shares of K2M Group Holdings by 1.6% in the fourth quarter. New York State Common Retirement Fund now owns 141,690 shares of the medical device company’s stock worth $2,797,000 after buying an additional 2,170 shares in the last quarter. Paradigm Capital Management Inc. NY boosted its stake in shares of K2M Group Holdings by 625.2% in the fourth quarter. Paradigm Capital Management Inc. NY now owns 169,700 shares of the medical device company’s stock worth $3,350,000 after buying an additional 146,300 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of K2M Group Holdings by 1.3% in the fourth quarter. Principal Financial Group Inc. now owns 398,277 shares of the medical device company’s stock worth $7,862,000 after buying an additional 5,127 shares in the last quarter. Finally, OppenheimerFunds Inc. boosted its stake in shares of K2M Group Holdings by 13.1% in the fourth quarter. OppenheimerFunds Inc. now owns 908,054 shares of the medical device company’s stock worth $17,925,000 after buying an additional 105,014 shares in the last quarter.

K2M Group Holdings, Inc is a medical device company focused on designing, developing and commercializing spine technologies and techniques. The Company’s spine products are used by spine surgeons to treat spinal pathologies, such as deformity (primarily scoliosis), trauma and tumor. The Company is engaged in designing, development and commercialization of products for patients suffering from degenerative spinal conditions.

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