K2M Group (KTWO) Earns “Buy” Rating from Barclays
Several other research firms have also issued reports on KTWO. ValuEngine lowered K2M Group from a hold rating to a sell rating in a research note on Tuesday, October 10th. Needham & Company LLC dropped their price objective on K2M Group from $27.00 to $26.00 and set a strong-buy rating for the company in a research note on Thursday, November 2nd. BidaskClub lowered K2M Group from a buy rating to a hold rating in a research note on Wednesday, December 6th. Oppenheimer reissued a buy rating and set a $24.00 price objective on shares of K2M Group in a research note on Friday, November 10th. Finally, Zacks Investment Research lowered K2M Group from a hold rating to a sell rating in a research note on Tuesday. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and ten have given a buy rating to the stock. The company has an average rating of Buy and an average target price of $24.50.
Shares of K2M Group (NASDAQ KTWO) traded down $0.32 during midday trading on Tuesday, hitting $20.25. The stock had a trading volume of 326,280 shares, compared to its average volume of 374,641. The stock has a market capitalization of $877.40, a PE ratio of -21.09 and a beta of 1.34. K2M Group has a one year low of $16.44 and a one year high of $25.99. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.67 and a current ratio of 3.06.
K2M Group (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 Thomson Reuters’ consensus estimate of ($0.19) by ($0.01). The company had revenue of $62.65 million during the quarter, compared to analysts’ expectations of $62.69 million. K2M Group had a negative net margin of 16.22% and a negative return on equity of 16.02%. K2M Group’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.19) earnings per share. analysts predict that K2M Group will post -0.85 EPS for the current fiscal year.
A number of hedge funds have recently modified their holdings of KTWO. Schwab Charles Investment Management Inc. lifted its stake in K2M Group by 32.1% during the second quarter. Schwab Charles Investment Management Inc. now owns 174,070 shares of the medical device company’s stock worth $4,241,000 after purchasing an additional 42,290 shares during the last quarter. First Trust Advisors LP bought a new stake in K2M Group during the second quarter worth about $1,270,000. Rhumbline Advisers lifted its stake in K2M Group by 49.2% during the second quarter. Rhumbline Advisers now owns 43,165 shares of the medical device company’s stock worth $1,051,000 after purchasing an additional 14,241 shares during the last quarter. Legal & General Group Plc lifted its stake in K2M Group by 41.4% during the second quarter. Legal & General Group Plc now owns 9,561 shares of the medical device company’s stock worth $232,000 after purchasing an additional 2,798 shares during the last quarter. Finally, BNP Paribas Arbitrage SA lifted its stake in K2M Group by 5,175.3% during the second quarter. BNP Paribas Arbitrage SA now owns 4,484 shares of the medical device company’s stock worth $109,000 after purchasing an additional 4,399 shares during the last quarter. 97.95% of the stock is owned by hedge funds and other institutional investors.
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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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