K2M Group Holdings, Inc. (KTWO) Earns Buy Rating from Barclays PLC

K2M Group Holdings, Inc. (NASDAQ:KTWO)‘s stock had its “buy” rating reiterated by equities researchers at Barclays PLC in a research note issued on Wednesday. They currently have a $26.00 target price on the medical device company’s stock. Barclays PLC’s price objective suggests a potential upside of 15.35% from the company’s current price.

A number of other equities analysts have also issued reports on KTWO. Zacks Investment Research lowered shares of K2M Group Holdings from a “hold” rating to a “sell” rating in a research report on Wednesday. Needham & Company LLC raised their target price on shares of K2M Group Holdings from $22.00 to $25.00 and gave the stock a “strong-buy” rating in a research report on Monday, December 12th. Oppenheimer Holdings, Inc. restated an “outperform” rating on shares of K2M Group Holdings in a research report on Tuesday, December 20th. RBC Capital Markets initiated coverage on shares of K2M Group Holdings in a research report on Monday, October 10th. They issued an “outperform” rating and a $23.00 price objective on the stock. Finally, Royal Bank Of Canada initiated coverage on shares of K2M Group Holdings in a research report on Monday, October 10th. They issued an “outperform” rating and a $23.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $23.44.

Analyst Recommendations for K2M Group Holdings (NASDAQ:KTWO)

Shares of K2M Group Holdings (NASDAQ:KTWO) traded down 2.66% during midday trading on Wednesday, hitting $21.94. 276,505 shares of the stock were exchanged. K2M Group Holdings has a 12-month low of $10.10 and a 12-month high of $22.53. The firm’s market cap is $925.80 million. The firm has a 50-day moving average price of $19.92 and a 200 day moving average price of $17.81.

K2M Group Holdings (NASDAQ:KTWO) last announced its earnings results on Wednesday, November 2nd. The medical device company reported ($0.19) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.11. The business had revenue of $59.30 million for the quarter, compared to analyst estimates of $58.21 million. K2M Group Holdings had a negative net margin of 16.45% and a negative return on equity of 13.03%. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period last year, the firm posted ($0.25) earnings per share. Analysts predict that K2M Group Holdings will post ($0.97) earnings per share for the current fiscal year.

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In other K2M Group Holdings news, major shareholder Carson Anderson & Stow Welsh sold 4,416,825 shares of the business’s stock in a transaction on Wednesday, November 16th. The shares were sold at an average price of $18.39, for a total transaction of $81,225,411.75. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 4.80% of the company’s stock.

Large investors have recently modified their holdings of the company. JPMorgan Chase & Co. raised its stake in shares of K2M Group Holdings by 18.9% in the third quarter. JPMorgan Chase & Co. now owns 1,101,032 shares of the medical device company’s stock valued at $19,576,000 after buying an additional 175,057 shares during the last quarter. Emerald Mutual Fund Advisers Trust raised its stake in shares of K2M Group Holdings by 3.2% in the third quarter. Emerald Mutual Fund Advisers Trust now owns 764,203 shares of the medical device company’s stock valued at $13,588,000 after buying an additional 23,620 shares during the last quarter. Emerald Advisers Inc. PA raised its stake in shares of K2M Group Holdings by 0.5% in the third quarter. Emerald Advisers Inc. PA now owns 725,315 shares of the medical device company’s stock valued at $12,896,000 after buying an additional 3,520 shares during the last quarter. Cadian Capital Management LP raised its stake in shares of K2M Group Holdings by 37.2% in the third quarter. Cadian Capital Management LP now owns 754,252 shares of the medical device company’s stock valued at $13,411,000 after buying an additional 204,311 shares during the last quarter. Finally, TimesSquare Capital Management LLC bought a new stake in shares of K2M Group Holdings during the third quarter valued at approximately $26,376,000. Institutional investors own 66.86% of the company’s stock.

About K2M Group Holdings

K2M Group Holdings, Inc is a medical device company focused on designing, developing and commercializing spine technologies and techniques. The Company’s spine products are used by spine surgeons to treat spinal pathologies, such as deformity (primarily scoliosis), trauma and tumor. The Company is engaged in designing, development and commercialization of products for patients suffering from degenerative spinal conditions.

5 Day Chart for NASDAQ:KTWO

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