K2M Group Holdings, Inc. (NASDAQ:KTWO) Upgraded to “Hold” at Zacks Investment Research
Zacks Investment Research upgraded shares of K2M Group Holdings, Inc. (NASDAQ:KTWO) from a sell rating to a hold rating in a report published on Saturday.
According to Zacks, “K2M Group Holdings, Inc. is a global medical device company. The Company is focused on designing, developing and commercializing complex spine and minimally invasive spine technologies and techniques. Its products consist of implants, disposables and instruments which are marketed and sold primarily to hospitals for use by spine surgeons. The Company’s products include Complex Spine, Minimally Invasive Spine and Degenerative Spine. Its technologies include MESA, Rail 4D, Deformity Cricket, SERENGETI, RAVINE, EVEREST and tifix. K2M Group Holdings, Inc. is headquartered in Leesburg, Virginia. “
KTWO has been the subject of several other research reports. Royal Bank Of Canada reaffirmed a buy rating on shares of K2M Group Holdings in a research note on Wednesday, May 3rd. Cowen and Company reaffirmed an outperform rating and set a $26.00 price target (up previously from $21.00) on shares of K2M Group Holdings in a research note on Sunday, April 9th. Barclays PLC lifted their price target on K2M Group Holdings from $26.00 to $27.00 and gave the stock an overweight rating in a research note on Monday, April 24th. Oppenheimer Holdings, Inc. set a $26.00 price target on K2M Group Holdings and gave the stock a buy rating in a research note on Wednesday, May 3rd. Finally, BidaskClub lowered K2M Group Holdings from a buy rating to a hold rating in a research note on Monday, July 31st. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company has a consensus rating of Buy and an average target price of $26.25.
K2M Group Holdings (KTWO) traded up 6.20% during trading on Friday, hitting $22.97. The stock had a trading volume of 448,046 shares. The company has a 50-day moving average of $24.07 and a 200-day moving average of $21.86. The stock’s market capitalization is $993.87 million. K2M Group Holdings has a 52 week low of $15.45 and a 52 week high of $25.99.
K2M Group Holdings (NASDAQ:KTWO) last issued its quarterly earnings results on Tuesday, August 1st. The medical device company reported ($0.21) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $65.70 million during the quarter, compared to analyst estimates of $66.26 million. During the same quarter in the previous year, the company posted ($0.27) earnings per share. The company’s revenue was up 11.0% compared to the same quarter last year. On average, equities analysts expect that K2M Group Holdings will post ($0.78) earnings per share for the current fiscal year.
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In related news, insider John Philip Md Kostuik sold 50,000 shares of the business’s stock in a transaction dated Thursday, May 25th. The stock was sold at an average price of $22.70, for a total transaction of $1,135,000.00. Following the transaction, the insider now owns 199,107 shares in the company, valued at approximately $4,519,728.90. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Gregory S. Cole sold 42,947 shares of the business’s stock in a transaction dated Friday, June 16th. The shares were sold at an average price of $22.80, for a total value of $979,191.60. Following the transaction, the chief financial officer now owns 87,425 shares in the company, valued at approximately $1,993,290. The disclosure for this sale can be found here. In the last quarter, insiders sold 95,805 shares of company stock worth $2,178,713. Company insiders own 5.80% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA increased 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 worth $109,000 after buying an additional 4,399 shares in the last quarter. Legal & General Group Plc increased 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 worth $138,000 after buying an additional 564 shares in the last quarter. Simplex Trading LLC acquired a new position in shares of K2M Group Holdings during the first quarter worth about $187,000. Parkwood LLC acquired a new position in shares of K2M Group Holdings during the first quarter worth about $223,000. Finally, Paradigm Capital Management Inc. NY acquired a new position in shares of K2M Group Holdings during the first quarter worth about $226,000. Institutional investors own 98.50% 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 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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