K2M Group Holdings Inc. (NASDAQ:KTWO) shares dropped 2.8% on Friday . The company traded as low as $16.82 and last traded at $16.86, with a volume of 157,509 shares changing hands. The stock had previously closed at $17.34.

KTWO has been the topic of a number of research reports. Needham & Company LLC raised shares of K2M Group Holdings from a “buy” rating to a “strong-buy” rating and set a $21.00 price target on the stock in a research note on Monday, May 23rd. Oppenheimer Holdings Inc. reaffirmed an “outperform” rating on shares of K2M Group Holdings in a research note on Tuesday, July 19th. Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $22.00 price target on shares of K2M Group Holdings in a research note on Friday, May 20th. Zacks Investment Research lowered shares of K2M Group Holdings from a “hold” rating to a “sell” rating in a research note on Wednesday, July 6th. Finally, JMP Securities reaffirmed a “buy” rating and issued a $22.00 price target on shares of K2M Group Holdings in a research note on Sunday, June 5th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $22.20.

The firm’s market cap is $708.46 million. The company has a 50 day moving average price of $16.40 and a 200 day moving average price of $14.23.

K2M Group Holdings (NASDAQ:KTWO) last issued its quarterly earnings data on Wednesday, August 3rd. The medical device company reported ($0.27) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.01. During the same quarter last year, the business earned ($0.16) EPS. The business earned $59.20 million during the quarter, compared to the consensus estimate of $57.47 million. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. On average, equities research analysts forecast that K2M Group Holdings Inc. will post ($1.10) EPS for the current year.

In other K2M Group Holdings news, CFO Gregory S. Cole sold 6,465 shares of the stock in a transaction that occurred on Saturday, May 21st. The shares were sold at an average price of $11.32, for a total transaction of $73,183.80. Following the completion of the sale, the chief financial officer now owns 33,233 shares of the company’s stock, valued at approximately $376,197.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

A number of hedge funds have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. increased its stake in 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. Nationwide Fund Advisors increased its stake in 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. Paradigm Capital Management Inc. NY increased its stake in 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. Finally, New York State Common Retirement Fund increased its stake in 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.

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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