Needham & Company LLC Cuts K2M Group Holdings, Inc. (KTWO) Price Target to $26.00
K2M Group Holdings, Inc. (NASDAQ:KTWO) had its price target cut by Needham & Company LLC from $27.00 to $26.00 in a research note released on Thursday, MarketBeat reports. They currently have a strong-buy rating on the medical device company’s stock.
A number of other research firms have also recently weighed in on KTWO. Royal Bank Of Canada reiterated a buy rating and set a $26.00 price objective on shares of K2M Group Holdings in a research report on Thursday, July 20th. BidaskClub upgraded shares of K2M Group Holdings from a hold rating to a buy rating in a research report on Wednesday, July 19th. Cowen and Company restated a buy rating and issued a $26.00 price target on shares of K2M Group Holdings in a report on Wednesday, July 19th. Oppenheimer Holdings, Inc. set a $29.00 price target on shares of K2M Group Holdings and gave the stock a buy rating in a report on Wednesday, August 2nd. Finally, Zacks Investment Research upgraded shares of K2M Group Holdings from a sell rating to a hold rating in a report on Saturday, August 5th. One analyst has rated the stock with a sell rating, one has issued 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 $25.00.
Shares of K2M Group Holdings (NASDAQ KTWO) traded up $0.24 on Thursday, reaching $18.93. 357,739 shares of the company traded hands, compared to its average volume of 773,942. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.06 and a quick ratio of 1.91.
K2M Group Holdings (NASDAQ:KTWO) last announced its quarterly earnings results on Wednesday, November 1st. The medical device company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.01). K2M Group Holdings had a negative return on equity of 16.02% and a negative net margin of 16.22%. The business had revenue of $62.65 million during the quarter, compared to the consensus estimate of $62.69 million. During the same quarter in the prior year, the firm posted ($0.19) EPS. The company’s revenue for the quarter was up 5.6% on a year-over-year basis. analysts forecast that K2M Group Holdings will post -0.85 EPS for the current fiscal year.
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In other K2M Group Holdings news, insider John Philip Md Kostuik sold 1,090 shares of the stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $24.08, for a total transaction of $26,247.20. Following the completion of the sale, the insider now directly owns 201,961 shares of the company’s stock, valued at $4,863,220.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Gregory S. Cole sold 39,357 shares of the company’s stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $23.37, for a total transaction of $919,773.09. The disclosure for this sale can be found here. Over the last three months, insiders have sold 44,129 shares of company stock valued at $1,033,644. Insiders own 5.80% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the company. BNP Paribas Arbitrage SA increased its holdings in shares of K2M Group Holdings by 5,175.3% during the second quarter. BNP Paribas Arbitrage SA now owns 4,484 shares of the medical device company’s stock valued at $109,000 after acquiring an additional 4,399 shares in the last quarter. Rockefeller Financial Services Inc. acquired a new position in shares of K2M Group Holdings during the third quarter valued at about $105,000. Legal & General Group Plc increased its holdings in shares of K2M Group Holdings by 9.1% during the first quarter. Legal & General Group Plc now owns 6,763 shares of the medical device company’s stock valued at $138,000 after acquiring an additional 564 shares in the last quarter. Dorsey & Whitney Trust CO LLC acquired a new position in shares of K2M Group Holdings during the second quarter valued at about $211,000. Finally, Symphony Asset Management LLC acquired a new position in K2M Group Holdings in the 2nd quarter worth approximately $351,000. Hedge funds and other institutional investors own 99.13% 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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