Point72 Asset Management L.P. raised its holdings in K2M Group Holdings Inc (NASDAQ:KTWO) by 36.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 647,000 shares of the medical device company’s stock after buying an additional 174,300 shares during the period. Point72 Asset Management L.P.’s holdings in K2M Group were worth $14,558,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of KTWO. Engineers Gate Manager LP acquired a new stake in shares of K2M Group during the first quarter worth about $190,000. Natixis Advisors L.P. acquired a new stake in shares of K2M Group during the first quarter worth about $229,000. First Republic Investment Management Inc. acquired a new stake in shares of K2M Group during the second quarter worth about $244,000. Oppenheimer Asset Management Inc. increased its position in shares of K2M Group by 18.0% during the first quarter. Oppenheimer Asset Management Inc. now owns 19,285 shares of the medical device company’s stock worth $366,000 after purchasing an additional 2,942 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in shares of K2M Group during the second quarter worth about $392,000.

In other K2M Group news, CFO Gregory S. Cole sold 1,480 shares of K2M Group stock in a transaction that occurred on Thursday, August 16th. The stock was sold at an average price of $20.08, for a total value of $29,718.40. Following the sale, the chief financial officer now owns 65,659 shares of the company’s stock, valued at approximately $1,318,432.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Gregory S. Cole sold 82,304 shares of K2M Group stock in a transaction that occurred on Thursday, August 30th. The shares were sold at an average price of $27.40, for a total value of $2,255,129.60. Following the completion of the sale, the chief financial officer now directly owns 147,963 shares in the company, valued at approximately $4,054,186.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 85,346 shares of company stock worth $2,318,362. Corporate insiders own 6.00% of the company’s stock.

A number of research firms have recently commented on KTWO. Cowen cut K2M Group from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $28.00 to $27.50 in a research report on Tuesday, September 4th. Cantor Fitzgerald lowered K2M Group from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $28.00 to $27.50 in a report on Tuesday, September 4th. Oppenheimer lowered K2M Group from an “outperform” rating to a “hold” rating in a report on Friday, August 31st. ValuEngine raised K2M Group from a “hold” rating to a “buy” rating in a report on Thursday, August 30th. Finally, Needham & Company LLC lowered K2M Group from a “buy” rating to a “hold” rating in a report on Thursday, August 30th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company’s stock. K2M Group currently has a consensus rating of “Hold” and an average price target of $25.91.

NASDAQ KTWO opened at $27.30 on Friday. The company has a quick ratio of 2.13, a current ratio of 3.48 and a debt-to-equity ratio of 0.51. K2M Group Holdings Inc has a 52-week low of $16.44 and a 52-week high of $27.50.

K2M Group (NASDAQ:KTWO) last released its quarterly earnings results on Wednesday, August 1st. The medical device company reported ($0.25) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.19) by ($0.06). K2M Group had a negative return on equity of 16.27% and a negative net margin of 14.49%. The company had revenue of $73.58 million for the quarter, compared to analysts’ expectations of $70.85 million. During the same period in the prior year, the business earned ($0.21) EPS. The business’s quarterly revenue was up 12.0% compared to the same quarter last year. sell-side analysts expect that K2M Group Holdings Inc will post -0.77 earnings per share for the current fiscal year.

K2M Group Profile

K2M Group Holdings, Inc, a medical device company, provides spine and minimally invasive solutions in the United States and internationally. The company offers implants, disposables, and instruments primarily to hospitals for use by spine surgeons to treat spinal pathologies, such as deformity, trauma, and tumor.

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Institutional Ownership by Quarter for K2M Group (NASDAQ:KTWO)

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