C WorldWide Group Holding A S Purchases 9,206 Shares of K2M Group Holdings, Inc. (KTWO)
C WorldWide Group Holding A S boosted its stake in K2M Group Holdings, Inc. (NASDAQ:KTWO) by 5.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 183,577 shares of the medical device company’s stock after buying an additional 9,206 shares during the period. C WorldWide Group Holding A S’s holdings in K2M Group Holdings were worth $4,472,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in KTWO. Legal & General Group Plc increased its position in 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 buying an additional 564 shares during the period. Simplex Trading LLC bought a new position in K2M Group Holdings during the first quarter valued at approximately $187,000. Parkwood LLC bought a new position in K2M Group Holdings during the first quarter valued at approximately $223,000. Paradigm Capital Management Inc. NY bought a new position in K2M Group Holdings during the first quarter valued at approximately $226,000. Finally, Trexquant Investment LP bought a new position in K2M Group Holdings during the first quarter valued at approximately $250,000. 96.79% of the stock is currently owned by institutional investors.
Shares of K2M Group Holdings, Inc. (NASDAQ:KTWO) opened at 23.31 on Friday. K2M Group Holdings, Inc. has a 52-week low of $15.45 and a 52-week high of $25.99. The stock’s 50 day moving average price is $24.00 and its 200-day moving average price is $21.91. The company’s market cap is $1.01 billion.
K2M Group Holdings (NASDAQ:KTWO) last announced its quarterly earnings results on Tuesday, August 1st. The medical device company reported ($0.21) EPS for the quarter, beating the Zacks’ 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 company had revenue of $65.70 million during the quarter, compared to analysts’ expectations of $66.26 million. During the same period in the prior year, the company earned ($0.27) EPS. K2M Group Holdings’s revenue was up 11.0% compared to the same quarter last year. Equities analysts expect that K2M Group Holdings, Inc. will post ($0.78) EPS for the current year.
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Several brokerages have issued reports on KTWO. Oppenheimer Holdings, Inc. set a $29.00 price objective on K2M Group Holdings and gave the company a “buy” rating in a research report on Wednesday, August 2nd. JMP Securities reiterated an “outperform” rating and issued a $30.00 price objective (up previously from $27.00) on shares of K2M Group Holdings in a research report on Wednesday, June 28th. Royal Bank Of Canada reiterated a “buy” rating and issued a $26.00 price objective on shares of K2M Group Holdings in a research report on Thursday, July 20th. Needham & Company LLC reiterated a “buy” rating on shares of K2M Group Holdings in a research report on Wednesday, August 2nd. Finally, BidaskClub upgraded K2M Group Holdings from a “hold” rating to a “buy” rating in a research report on Wednesday, July 19th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. K2M Group Holdings currently has an average rating of “Buy” and a consensus target price of $26.25.
In other news, insider John Philip Md Kostuik sold 50,000 shares of the stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $22.70, for a total value of $1,135,000.00. Following the completion of the transaction, the insider now directly owns 199,107 shares in the company, valued at approximately $4,519,728.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Gregory S. Cole sold 42,947 shares of the stock in a transaction on Friday, June 16th. The shares were sold at an average price of $22.80, for a total value of $979,191.60. Following the completion of the transaction, the chief financial officer now owns 87,425 shares of the company’s stock, valued at $1,993,290. The disclosure for this sale can be found here. Insiders sold a total of 93,903 shares of company stock valued at $2,137,451 over the last quarter. 5.80% of the stock is owned by corporate insiders.
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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