K2M Group Holdings, Inc. (NASDAQ:KTWO)‘s stock had its “outperform” rating reiterated by stock analysts at JMP Securities in a report issued on Tuesday. They currently have a $25.00 price objective on the medical device company’s stock, down from their prior price objective of $30.00. JMP Securities’ price target would suggest a potential upside of 33.26% from the stock’s previous close.
Several other equities analysts also recently issued reports on KTWO. Oppenheimer Holdings, Inc. reissued a “buy” rating on shares of K2M Group Holdings in a research report on Thursday, June 22nd. Cowen and Company reissued a “buy” rating and issued a $26.00 target price on shares of K2M Group Holdings in a research report on Wednesday, July 19th. BidaskClub raised K2M Group Holdings from a “hold” rating to a “buy” rating in a research report on Wednesday, July 19th. Royal Bank Of Canada reissued a “buy” rating and issued a $26.00 target price on shares of K2M Group Holdings in a research report on Thursday, July 20th. Finally, Needham & Company LLC reissued a “buy” rating on shares of K2M Group Holdings in a research report on Wednesday, August 2nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. K2M Group Holdings presently has an average rating of “Buy” and a consensus price target of $25.60.
K2M Group Holdings (NASDAQ KTWO) opened at 18.76 on Tuesday. The stock’s market capitalization is $811.71 million. K2M Group Holdings has a 1-year low of $16.32 and a 1-year high of $25.99. The stock has a 50 day moving average price of $21.81 and a 200-day moving average price of $22.50.
K2M Group Holdings (NASDAQ:KTWO) last released its earnings results on Tuesday, August 1st. The medical device company reported ($0.21) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.01. K2M Group Holdings had a negative return on equity of 15.45% and a negative net margin of 16.21%. The firm had revenue of $65.70 million for the quarter, compared to the consensus estimate of $66.26 million. During the same period in the prior year, the firm earned ($0.27) EPS. The firm’s revenue was up 11.0% on a year-over-year basis. Equities research analysts expect that K2M Group Holdings will post ($0.82) EPS for the current year.
In other K2M Group Holdings news, CFO Gregory S. Cole sold 2,350 shares of the stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $24.08, for a total transaction of $56,588.00. Following the sale, the chief financial officer now directly owns 55,158 shares of the company’s stock, valued at approximately $1,328,204.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Philip Md Kostuik sold 1,332 shares of the stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $23.30, for a total value of $31,035.60. Following the sale, the insider now directly owns 200,629 shares in the company, valued at $4,674,655.70. The disclosure for this sale can be found here. Insiders have sold a total of 44,129 shares of company stock worth $1,033,644 over the last ninety days. 5.80% of the stock is owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. BNP Paribas Arbitrage SA grew its position in K2M Group Holdings by 5,175.3% during the 2nd 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 period. Legal & General Group Plc grew its position in K2M Group Holdings by 9.1% during the 1st quarter. Legal & General Group Plc now owns 6,763 shares of the medical device company’s stock worth $138,000 after purchasing an additional 564 shares during the period. Dorsey & Whitney Trust CO LLC acquired a new stake in K2M Group Holdings during the 2nd quarter worth about $211,000. American International Group Inc. grew its position in K2M Group Holdings by 7.1% during the 1st quarter. American International Group Inc. now owns 15,847 shares of the medical device company’s stock worth $325,000 after purchasing an additional 1,047 shares during the period. Finally, Symphony Asset Management LLC acquired a new stake in K2M Group Holdings during the 2nd quarter worth about $351,000. 97.86% of the stock is currently owned by institutional investors.
About K2M Group Holdings
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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