Geode Capital Management LLC Buys 26,578 Shares of K2M Group Holdings, Inc. (KTWO)
Geode Capital Management LLC increased its position in shares of K2M Group Holdings, Inc. (NASDAQ:KTWO) by 10.7% during the first quarter, Holdings Channel reports. The firm owned 275,498 shares of the medical device company’s stock after buying an additional 26,578 shares during the period. Geode Capital Management LLC’s holdings in K2M Group Holdings were worth $5,650,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of KTWO. IBM Retirement Fund bought a new stake in K2M Group Holdings during the first quarter worth about $2,677,000. JPMorgan Chase & Co. raised its stake in K2M Group Holdings by 54.3% in the first quarter. JPMorgan Chase & Co. now owns 1,409,360 shares of the medical device company’s stock worth $28,906,000 after buying an additional 495,749 shares during the period. Parkwood LLC bought a new stake in K2M Group Holdings during the first quarter worth about $223,000. Suntrust Banks Inc. bought a new stake in K2M Group Holdings during the first quarter worth about $400,000. Finally, Essex Investment Management Co. LLC bought a new stake in K2M Group Holdings during the first quarter worth about $1,529,000. Institutional investors and hedge funds own 96.79% of the company’s stock.
Shares of K2M Group Holdings, Inc. (NASDAQ:KTWO) traded up 0.09% during midday trading on Friday, reaching $23.33. The company’s stock had a trading volume of 51,602 shares. K2M Group Holdings, Inc. has a 12 month low of $15.45 and a 12 month high of $25.99. The stock’s market capitalization is $1.01 billion. The stock’s 50-day moving average is $24.00 and its 200 day moving average is $21.91.
K2M Group Holdings (NASDAQ:KTWO) last announced its quarterly earnings results on Tuesday, August 1st. The medical device company reported ($0.21) earnings per share for the quarter, topping analysts’ consensus estimates 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 quarter in the previous year, the firm earned ($0.27) earnings per share. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. On average, analysts expect that K2M Group Holdings, Inc. will post ($0.78) earnings per share for the current fiscal year.
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KTWO has been the subject of a number of recent research reports. TheStreet upgraded K2M Group Holdings from a “d+” rating to a “c” rating in a research note on Monday, May 8th. Royal Bank Of Canada reiterated a “buy” rating on shares of K2M Group Holdings in a research note on Wednesday, May 3rd. Oppenheimer Holdings, Inc. set a $26.00 target price on K2M Group Holdings and gave the company a “buy” rating in a research note on Wednesday, May 3rd. JMP Securities reiterated an “outperform” rating and issued a $30.00 target price (up previously from $27.00) on shares of K2M Group Holdings in a research note on Wednesday, June 28th. Finally, Zacks Investment Research upgraded K2M Group Holdings from a “sell” rating to a “hold” rating in a research note on Saturday, August 5th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $26.25.
In other K2M Group Holdings 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 value of $1,135,000.00. Following the completion of the sale, the insider now owns 199,107 shares of the company’s stock, valued at $4,519,728.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Gregory S. Cole sold 42,947 shares of the business’s stock in a transaction dated Friday, June 16th. The stock was sold at an average price of $22.80, for a total value of $979,191.60. Following the completion of the sale, the chief financial officer now directly owns 87,425 shares of the company’s stock, valued at approximately $1,993,290. The disclosure for this sale can be found here. Insiders sold 93,903 shares of company stock valued at $2,137,451 in the last ninety days. Insiders own 5.80% of the company’s stock.
K2M Group Holdings Company Profile
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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