Barclays PLC Reiterates Buy Rating for K2M Group Holdings, Inc. (KTWO)
K2M Group Holdings, Inc. (NASDAQ:KTWO)‘s stock had its “buy” rating reaffirmed by analysts at Barclays PLC in a report issued on Wednesday. They currently have a $26.00 target price on the medical device company’s stock. Barclays PLC’s target price would indicate a potential upside of 17.38% from the stock’s current price.
A number of other analysts also recently issued reports on KTWO. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and set a $23.00 price objective on shares of K2M Group Holdings in a report on Tuesday, September 13th. Gabelli started coverage on shares of K2M Group Holdings in a report on Friday, September 16th. They set a “buy” rating and a $22.00 price objective for the company. Zacks Investment Research raised shares of K2M Group Holdings from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a report on Wednesday, October 5th. Royal Bank Of Canada started coverage on shares of K2M Group Holdings in a report on Monday, October 10th. They set an “outperform” rating and a $23.00 price objective for the company. Finally, RBC Capital Markets started coverage on shares of K2M Group Holdings in a report on Monday, October 10th. They set an “outperform” rating and a $23.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. K2M Group Holdings currently has a consensus rating of “Buy” and a consensus price target of $23.78.
Shares of K2M Group Holdings (NASDAQ:KTWO) traded up 1.40% during mid-day trading on Wednesday, reaching $22.47. 119,880 shares of the company’s stock were exchanged. The company has a 50 day moving average price of $19.92 and a 200-day moving average price of $17.81. K2M Group Holdings has a one year low of $10.10 and a one year high of $23.10. The stock’s market cap is $948.17 million.
K2M Group Holdings (NASDAQ:KTWO) last posted its quarterly earnings data on Wednesday, November 2nd. The medical device company reported ($0.19) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.11. K2M Group Holdings had a negative net margin of 16.45% and a negative return on equity of 13.03%. The company earned $59.30 million during the quarter, compared to the consensus estimate of $58.21 million. During the same period in the previous year, the firm posted ($0.25) EPS. The firm’s revenue was up 7.8% compared to the same quarter last year. On average, analysts predict that K2M Group Holdings will post ($0.97) EPS for the current year.
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In related news, major shareholder Carson Anderson & Stow Welsh sold 4,416,825 shares of K2M Group Holdings stock in a transaction on Wednesday, November 16th. The shares were sold at an average price of $18.39, for a total value of $81,225,411.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 4.80% of the stock is currently owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in KTWO. Morgan Stanley boosted its position in K2M Group Holdings by 293.9% in the third quarter. Morgan Stanley now owns 6,306 shares of the medical device company’s stock worth $112,000 after buying an additional 4,705 shares during the last quarter. BlackRock Group LTD boosted its position in K2M Group Holdings by 4.3% in the third quarter. BlackRock Group LTD now owns 8,340 shares of the medical device company’s stock worth $147,000 after buying an additional 342 shares during the last quarter. BlackRock Advisors LLC boosted its position in K2M Group Holdings by 31.4% in the second quarter. BlackRock Advisors LLC now owns 12,611 shares of the medical device company’s stock worth $196,000 after buying an additional 3,016 shares during the last quarter. Panagora Asset Management Inc. boosted its position in K2M Group Holdings by 132.4% in the second quarter. Panagora Asset Management Inc. now owns 13,246 shares of the medical device company’s stock worth $206,000 after buying an additional 7,547 shares during the last quarter. Finally, 1st Global Advisors Inc. purchased a new position in K2M Group Holdings during the third quarter worth about $223,000. Hedge funds and other institutional investors own 66.86% of the company’s stock.
About K2M Group Holdings
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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