K2M Group Holdings, Inc. (KTWO) Shares Sold by TIAA CREF Investment Management LLC
TIAA CREF Investment Management LLC cut its stake in shares of K2M Group Holdings, Inc. (NASDAQ:KTWO) by 10.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 69,617 shares of the medical device company’s stock after selling 8,048 shares during the period. TIAA CREF Investment Management LLC’s holdings in K2M Group Holdings were worth $1,428,000 as of its most recent SEC filing.
A number of other large investors also recently bought and sold shares of the stock. Simplex Trading LLC bought a new stake in K2M Group Holdings during the first quarter valued at $187,000. Parkwood LLC bought a new stake in K2M Group Holdings during the first quarter valued at $223,000. Paradigm Capital Management Inc. NY bought a new stake in K2M Group Holdings during the first quarter valued at $226,000. Trexquant Investment LP bought a new stake in K2M Group Holdings during the first quarter valued at $250,000. Finally, 1st Global Advisors Inc. increased its stake in K2M Group Holdings by 2.9% in the first quarter. 1st Global Advisors Inc. now owns 13,101 shares of the medical device company’s stock valued at $269,000 after buying an additional 369 shares during the period. 96.79% of the stock is owned by hedge funds and other institutional investors.
K2M Group Holdings, Inc. (KTWO) traded up 1.97% during midday trading on Friday, hitting $23.77. 257,042 shares of the stock traded hands. The stock’s 50-day moving average price is $24.01 and its 200-day moving average price is $21.93. K2M Group Holdings, Inc. has a 52 week low of $15.45 and a 52 week high of $25.99. The stock’s market capitalization is $1.03 billion.
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. The company had revenue of $65.70 million during the quarter, compared to analyst estimates of $66.26 million. K2M Group Holdings had a negative net margin of 16.21% and a negative return on equity of 15.45%. K2M Group Holdings’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period last year, the business earned ($0.27) EPS. Equities research analysts expect that K2M Group Holdings, Inc. will post ($0.78) EPS for the current fiscal year.
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Several equities research analysts have weighed in on the stock. Royal Bank Of Canada reaffirmed a “buy” rating on shares of K2M Group Holdings in a research note on Wednesday, May 3rd. Zacks Investment Research raised shares of K2M Group Holdings from a “sell” rating to a “hold” rating in a research note on Saturday, August 5th. Cowen and Company reaffirmed a “buy” rating and issued a $26.00 price target on shares of K2M Group Holdings in a research note on Wednesday, July 19th. Barclays PLC boosted their target price on shares of K2M Group Holdings from $26.00 to $27.00 and gave the stock an “overweight” rating in a research report on Monday, April 24th. Finally, Oppenheimer Holdings, Inc. set a $26.00 target price on shares of K2M Group Holdings and gave the stock a “buy” rating in a research report on Wednesday, May 3rd. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $26.25.
In related news, insider John Philip Md Kostuik sold 50,000 shares of the stock in a transaction dated Thursday, May 25th. The shares were 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 document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Gregory S. Cole sold 42,947 shares of the stock in a transaction dated Friday, June 16th. The stock was sold at an average price of $22.80, for a total transaction 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. Over the last quarter, insiders sold 93,903 shares of company stock valued at $2,137,451. 5.80% of the stock is owned by company 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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