$65.57 Million in Sales Expected for K2M Group Holdings, Inc. (KTWO) This Quarter
Brokerages expect K2M Group Holdings, Inc. (NASDAQ:KTWO) to post sales of $65.57 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for K2M Group Holdings’ earnings. The highest sales estimate is $66.00 million and the lowest is $65.30 million. K2M Group Holdings posted sales of $61.79 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 6.1%. The business is scheduled to issue its next quarterly earnings report on Monday, March 5th.
According to Zacks, analysts expect that K2M Group Holdings will report full-year sales of $65.57 million for the current financial year, with estimates ranging from $255.60 million to $265.50 million. For the next financial year, analysts expect that the company will report sales of $284.00 million per share, with estimates ranging from $281.60 million to $286.20 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for K2M Group Holdings.
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 (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.01). The company had revenue of $62.65 million for the quarter, compared to analyst estimates of $62.69 million. K2M Group Holdings had a negative return on equity of 16.02% and a negative net margin of 16.22%. The firm’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter last year, the company posted ($0.19) earnings per share.
KTWO has been the subject of a number of recent research reports. Cowen and Company restated a “buy” rating and issued a $26.00 price objective on shares of K2M Group Holdings in a report on Wednesday, July 19th. BidaskClub upgraded K2M Group Holdings from a “hold” rating to a “buy” rating in a report on Wednesday, July 19th. Royal Bank Of Canada restated a “buy” rating and issued a $26.00 price objective on shares of K2M Group Holdings in a report on Thursday, July 20th. Oppenheimer Holdings, Inc. set a $29.00 price objective on K2M Group Holdings and gave the company a “buy” rating in a report on Wednesday, August 2nd. Finally, Needham & Company LLC restated a “buy” rating on shares of K2M Group Holdings in a report on Wednesday, August 2nd. One analyst has rated the stock with a sell rating, one has issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $25.00.
In other news, insider John Philip Md Kostuik sold 1,332 shares of the stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $23.30, for a total transaction of $31,035.60. Following the transaction, the insider now owns 200,629 shares of the company’s stock, valued at approximately $4,674,655.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.80% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Legal & General Group Plc increased its stake in K2M Group Holdings by 9.1% in the 1st quarter. Legal & General Group Plc now owns 6,763 shares of the medical device company’s stock valued at $138,000 after buying an additional 564 shares during the last quarter. Macquarie Group Ltd. increased its stake in K2M Group Holdings by 0.3% in the 2nd quarter. Macquarie Group Ltd. now owns 200,656 shares of the medical device company’s stock valued at $4,888,000 after buying an additional 581 shares during the last quarter. Wells Fargo & Company MN increased its stake in K2M Group Holdings by 0.9% in the 2nd quarter. Wells Fargo & Company MN now owns 63,322 shares of the medical device company’s stock valued at $1,542,000 after buying an additional 590 shares during the last quarter. American International Group Inc. increased its stake in K2M Group Holdings by 7.1% in the 1st quarter. American International Group Inc. now owns 15,847 shares of the medical device company’s stock valued at $325,000 after buying an additional 1,047 shares during the last quarter. Finally, Teachers Advisors LLC increased its stake in K2M Group Holdings by 3.0% in the 1st quarter. Teachers Advisors LLC now owns 43,823 shares of the medical device company’s stock valued at $899,000 after buying an additional 1,286 shares during the last quarter. 99.92% of the stock is currently owned by institutional investors and hedge funds.
WARNING: This report was posted by Daily Political and is the property of of Daily Political. If you are viewing this report on another website, it was stolen and republished in violation of international copyright and trademark legislation. The correct version of this report can be accessed at https://www.dailypolitical.com/2017/11/14/65-57-million-in-sales-expected-for-k2m-group-holdings-inc-ktwo-this-quarter.html.
Shares of K2M Group Holdings (NASDAQ KTWO) opened at $18.59 on Tuesday. K2M Group Holdings has a 1-year low of $17.23 and a 1-year high of $25.99. The company has a quick ratio of 1.67, a current ratio of 3.06 and a debt-to-equity ratio of 0.29.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for K2M Group Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for K2M Group Holdings Inc. and related companies with MarketBeat.com's FREE daily email newsletter.