Castleark Management LLC reduced its stake in shares of K2M Group Holdings, Inc. (NASDAQ:KTWO) by 7.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 371,252 shares of the medical device company’s stock after selling 29,056 shares during the quarter. Castleark Management LLC owned approximately 0.86% of K2M Group Holdings worth $9,044,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Artemis Investment Management LLP lifted its stake in shares of K2M Group Holdings by 255.4% during the 2nd quarter. Artemis Investment Management LLP now owns 316,703 shares of the medical device company’s stock worth $7,716,000 after purchasing an additional 227,582 shares during the last quarter. Schroder Investment Management Group raised its stake in K2M Group Holdings by 1.6% in the second quarter. Schroder Investment Management Group now owns 1,560,340 shares of the medical device company’s stock valued at $37,401,000 after buying an additional 24,671 shares during the last quarter. Credit Suisse AG raised its stake in K2M Group Holdings by 9.8% in the first quarter. Credit Suisse AG now owns 212,672 shares of the medical device company’s stock valued at $4,360,000 after buying an additional 18,931 shares during the last quarter. Tocqueville Asset Management L.P. raised its stake in K2M Group Holdings by 60.4% in the second quarter. Tocqueville Asset Management L.P. now owns 22,450 shares of the medical device company’s stock valued at $547,000 after buying an additional 8,450 shares during the last quarter. Finally, Nicholas Investment Partners LP raised its stake in K2M Group Holdings by 48.3% in the second quarter. Nicholas Investment Partners LP now owns 202,750 shares of the medical device company’s stock valued at $4,938,000 after buying an additional 65,991 shares during the last quarter. Hedge funds and other institutional investors own 97.86% of the company’s stock.

In other K2M Group Holdings news, insider John Philip Md Kostuik sold 1,090 shares of the business’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $24.08, for a total transaction of $26,247.20. Following the transaction, the insider now owns 201,961 shares in the company, valued at approximately $4,863,220.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Gregory S. Cole sold 39,357 shares of the business’s stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $23.37, for a total value of $919,773.09. The disclosure for this sale can be found here. Insiders have sold a total of 44,129 shares of company stock worth $1,033,644 in the last quarter. 5.80% of the stock is currently owned by insiders.

K2M Group Holdings (NASDAQ:KTWO) last posted its quarterly earnings data on Tuesday, August 1st. The medical device company reported ($0.21) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.22) by $0.01. The firm had revenue of $65.70 million during the quarter, compared to the consensus estimate of $66.26 million. K2M Group Holdings had a negative return on equity of 15.45% and a negative net margin of 16.21%. The firm’s revenue was up 11.0% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.27) EPS.

A number of research firms have commented on KTWO. Piper Jaffray Companies reiterated an “overweight” rating and issued a $28.00 price target on shares of K2M Group Holdings in a research note on Tuesday. William Blair reiterated an “outperform” rating on shares of K2M Group Holdings in a research note on Tuesday. Cowen and Company set a $28.00 price target on K2M Group Holdings and gave the company a “buy” rating in a research note on Thursday, August 17th. Wells Fargo & Company decreased their price target on K2M Group Holdings from $28.00 to $23.00 and set an “outperform” rating for the company in a research note on Tuesday. Finally, Zacks Investment Research upgraded K2M Group Holdings from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a research note on Wednesday, October 4th. One research analyst has rated the stock with a sell rating, one has given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $25.60.

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K2M Group Holdings 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.

Institutional Ownership by Quarter for K2M Group Holdings (NASDAQ:KTWO)

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