Renaissance Technologies LLC lowered its position in K2M Group Holdings, Inc. (NASDAQ:KTWO) by 18.4% during the first quarter, Holdings Channel reports. The firm owned 152,640 shares of the medical device company’s stock after selling 34,360 shares during the period. Renaissance Technologies LLC’s holdings in K2M Group Holdings were worth $3,131,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Citadel Advisors LLC increased its position in K2M Group Holdings by 3,357.5% in the first quarter. Citadel Advisors LLC now owns 628,808 shares of the medical device company’s stock worth $12,897,000 after buying an additional 610,621 shares during the period. Nicholas Company Inc. increased its position in K2M Group Holdings by 6.6% in the first quarter. Nicholas Company Inc. now owns 253,865 shares of the medical device company’s stock worth $5,206,000 after buying an additional 15,625 shares during the period. UBS Group AG increased its position in K2M Group Holdings by 164.0% in the first quarter. UBS Group AG now owns 59,657 shares of the medical device company’s stock worth $1,224,000 after buying an additional 37,056 shares during the period. Next Century Growth Investors LLC increased its position in K2M Group Holdings by 134.8% in the first quarter. Next Century Growth Investors LLC now owns 553,654 shares of the medical device company’s stock worth $11,355,000 after buying an additional 317,878 shares during the period. Finally, Geode Capital Management LLC increased its position in K2M Group Holdings by 10.7% in the first quarter. Geode Capital Management LLC now owns 275,498 shares of the medical device company’s stock worth $5,650,000 after buying an additional 26,578 shares during the period. Hedge funds and other institutional investors own 96.79% of the company’s stock.

K2M Group Holdings, Inc. (NASDAQ:KTWO) traded up 1.97% during mid-day trading on Friday, hitting $23.77. The company had a trading volume of 257,042 shares. K2M Group Holdings, Inc. has a 1-year low of $15.45 and a 1-year high of $25.99. The company has a 50 day moving average of $24.01 and a 200 day moving average of $21.93. The firm’s market capitalization is $1.03 billion.

K2M Group Holdings (NASDAQ:KTWO) last released 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 net margin of 16.21% and a negative return on equity of 15.45%. The business had revenue of $65.70 million for the quarter, compared to analyst estimates of $66.26 million. During the same period in the previous year, the company earned ($0.27) earnings per share. The business’s revenue for the quarter was up 11.0% on a year-over-year basis. Analysts predict that K2M Group Holdings, Inc. will post ($0.78) earnings per share for the current fiscal year.

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Several analysts recently weighed in on KTWO shares. Royal Bank Of Canada restated a “buy” rating on shares of K2M Group Holdings in a research note on Wednesday, May 3rd. Barclays PLC upped 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. TheStreet upgraded K2M Group Holdings from a “d+” rating to a “c” rating in a research note on Monday, May 8th. Finally, Cowen and Company restated a “buy” rating and issued a $26.00 price target on shares of K2M Group Holdings in a research note 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. The stock presently has a consensus rating of “Buy” and an average price target of $26.25.

In other K2M Group Holdings news, CFO Gregory S. Cole sold 42,947 shares of K2M Group Holdings 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 transaction, the chief financial officer now directly owns 87,425 shares of the company’s stock, valued at $1,993,290. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Philip Md Kostuik sold 50,000 shares of K2M Group Holdings stock in a transaction on 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 completion of the transaction, the insider now directly owns 199,107 shares in the company, valued at $4,519,728.90. The disclosure for this sale can be found here. Insiders sold 93,903 shares of company stock worth $2,137,451 over the last ninety days. Corporate insiders own 5.80% 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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Institutional Ownership by Quarter for K2M Group Holdings (NASDAQ:KTWO)

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