K2M Group Holdings, Inc. (KTWO) Given Consensus Recommendation of “Buy” by Brokerages
Shares of K2M Group Holdings, Inc. (NASDAQ:KTWO) have earned an average rating of “Buy” from the fourteen ratings firms that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and nine have given a buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $24.33.
A number of research firms recently issued reports on KTWO. Needham & Company LLC downgraded K2M Group from a “strong-buy” rating to a “buy” rating and decreased their price objective for the stock from $26.00 to $20.00 in a report on Friday, December 8th. Cowen set a $28.00 price objective on K2M Group and gave the stock a “buy” rating in a report on Thursday, August 17th. Zacks Investment Research upgraded K2M Group from a “sell” rating to a “hold” rating in a report on Wednesday. William Blair reiterated an “outperform” rating on shares of K2M Group in a report on Tuesday, October 10th. Finally, Piper Jaffray Companies reiterated an “overweight” rating and set a $28.00 price objective on shares of K2M Group in a report on Tuesday, October 10th.
A number of hedge funds and other institutional investors have recently modified their holdings of KTWO. TimesSquare Capital Management LLC boosted its position in K2M Group by 31.5% during the second quarter. TimesSquare Capital Management LLC now owns 2,888,020 shares of the medical device company’s stock valued at $70,352,000 after purchasing an additional 691,000 shares during the last quarter. Elk Creek Partners LLC acquired a new stake in shares of K2M Group in the third quarter valued at approximately $7,836,000. Prudential Financial Inc. acquired a new stake in shares of K2M Group in the second quarter valued at approximately $6,595,000. Artemis Investment Management LLP lifted its position in shares of K2M Group by 255.4% in the second quarter. Artemis Investment Management LLP now owns 316,703 shares of the medical device company’s stock valued at $7,716,000 after buying an additional 227,582 shares during the last quarter. Finally, State Street Corp lifted its position in shares of K2M Group by 39.8% in the second quarter. State Street Corp now owns 713,257 shares of the medical device company’s stock valued at $17,378,000 after buying an additional 203,067 shares during the last quarter. 99.16% of the stock is owned by hedge funds and other institutional investors.
Shares of K2M Group (KTWO) traded down $0.05 during trading on Friday, hitting $17.38. The company’s stock had a trading volume of 180,900 shares, compared to its average volume of 406,566. K2M Group has a 12 month low of $16.44 and a 12 month 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.
K2M Group (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). K2M Group 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 last year, the company earned ($0.19) earnings per share. The firm’s revenue was up 5.6% compared to the same quarter last year. research analysts predict that K2M Group will post -0.86 EPS for the current fiscal year.
K2M Group Company 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.
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