K2M Group Holdings Inc (KTWO) Shares Bought by Sectoral Asset Management Inc
Sectoral Asset Management Inc increased its position in shares of K2M Group Holdings Inc (NASDAQ:KTWO) by 29.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,164,412 shares of the medical device company’s stock after acquiring an additional 267,698 shares during the period. K2M Group makes up about 2.6% of Sectoral Asset Management Inc’s investment portfolio, making the stock its 16th largest position. Sectoral Asset Management Inc’s holdings in K2M Group were worth $20,959,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in KTWO. Cubist Systematic Strategies LLC grew its holdings in K2M Group by 7,765.0% during the third quarter. Cubist Systematic Strategies LLC now owns 4,719 shares of the medical device company’s stock worth $100,000 after acquiring an additional 4,659 shares during the period. Teacher Retirement System of Texas acquired a new position in K2M Group during the fourth quarter worth about $213,000. Trexquant Investment LP acquired a new position in K2M Group during the third quarter worth about $223,000. Quantbot Technologies LP grew its holdings in K2M Group by 275.9% during the third quarter. Quantbot Technologies LP now owns 10,593 shares of the medical device company’s stock worth $224,000 after acquiring an additional 7,775 shares during the period. Finally, Oppenheimer Asset Management Inc. acquired a new position in K2M Group during the third quarter worth about $347,000. 99.99% of the stock is currently owned by hedge funds and other institutional investors.
KTWO has been the subject of a number of recent analyst reports. Oppenheimer reiterated a “buy” rating and issued a $24.00 price target on shares of K2M Group in a research report on Friday, November 10th. Wells Fargo & Co lowered K2M Group from an “outperform” rating to a “market perform” rating and set a $23.00 price target for the company. in a research report on Monday, December 4th. BidaskClub lowered K2M Group from a “buy” rating to a “hold” rating in a research report on Wednesday, December 6th. Needham & Company LLC lowered K2M Group from a “strong-buy” rating to a “buy” rating and decreased their price target for the company from $26.00 to $20.00 in a research report on Friday, December 8th. Finally, Zacks Investment Research upgraded K2M Group from a “sell” rating to a “hold” rating in a research report on Wednesday, December 13th. One analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the company. K2M Group has a consensus rating of “Buy” and a consensus price target of $24.50.
K2M Group (NASDAQ:KTWO) last announced its quarterly earnings data on Wednesday, February 28th. The medical device company reported ($0.20) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.19) by ($0.01). K2M Group had a negative return on equity of 14.85% and a negative net margin of 14.40%. The business had revenue of $67.80 million for the quarter, compared to analyst estimates of $67.36 million. During the same quarter in the previous year, the business posted ($0.30) earnings per share. The company’s revenue was up 9.7% compared to the same quarter last year. equities research analysts anticipate that K2M Group Holdings Inc will post -0.64 earnings per share 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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