Oppenheimer Holdings, Inc. Analysts Give K2M Group Holdings, Inc. (KTWO) a $24.00 Price Target

K2M Group Holdings, Inc. (NASDAQ:KTWO) has been given a $24.00 target price by research analysts at Oppenheimer Holdings, Inc. in a note issued to investors on Wednesday. The firm presently has a “buy” rating on the medical device company’s stock. Oppenheimer Holdings, Inc.’s price objective points to a potential upside of 23.27% from the company’s previous close.

Several other brokerages also recently issued reports on KTWO. Royal Bank Of Canada reiterated a “buy” rating and issued a $26.00 price objective on shares of K2M Group Holdings in a research report on Thursday, July 20th. BidaskClub upgraded K2M Group Holdings from a “hold” rating to a “buy” rating in a research report on Wednesday, July 19th. Cowen and Company restated a “buy” rating and set a $26.00 target price on shares of K2M Group Holdings in a research report on Wednesday, July 19th. JMP Securities restated an “outperform” rating and set a $30.00 target price (up previously from $27.00) on shares of K2M Group Holdings in a research report on Wednesday, June 28th. Finally, Needham & Company LLC restated a “buy” rating on shares of K2M Group Holdings in a research report on Wednesday, August 2nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $25.10.

K2M Group Holdings (NASDAQ KTWO) opened at 19.47 on Wednesday. The firm’s market capitalization is $842.43 million. The stock’s 50 day moving average price is $21.53 and its 200 day moving average price is $22.50. K2M Group Holdings has a 52-week low of $16.32 and a 52-week high of $25.99.

K2M Group Holdings (NASDAQ:KTWO) last issued its quarterly earnings data on Tuesday, August 1st. The medical device company reported ($0.21) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 during the quarter, compared to the consensus estimate of $66.26 million. During the same quarter in the previous year, the company posted ($0.27) EPS. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. On average, analysts predict that K2M Group Holdings will post ($0.82) EPS for the current fiscal year.

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In related news, CFO Gregory S. Cole sold 2,350 shares of K2M Group Holdings stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $24.08, for a total transaction of $56,588.00. Following the completion of the sale, the chief financial officer now directly owns 55,158 shares of the company’s stock, valued at $1,328,204.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider John Philip Md Kostuik sold 1,090 shares of K2M Group Holdings stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $24.08, for a total value of $26,247.20. Following the sale, the insider now directly owns 201,961 shares of the company’s stock, valued at $4,863,220.88. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 44,129 shares of company stock valued at $1,033,644. 5.80% of the stock is owned by insiders.

Several institutional investors have recently made changes to their positions in the stock. Legal & General Group Plc grew its stake in shares of K2M Group Holdings by 9.1% during the first 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. Macquarie Group Ltd. grew its stake in shares of K2M Group Holdings by 0.3% during the second quarter. Macquarie Group Ltd. now owns 200,656 shares of the medical device company’s stock worth $4,888,000 after purchasing an additional 581 shares during the period. Wells Fargo & Company MN grew its stake in shares of K2M Group Holdings by 0.9% during the second quarter. Wells Fargo & Company MN now owns 63,322 shares of the medical device company’s stock worth $1,542,000 after purchasing an additional 590 shares during the period. American International Group Inc. grew its stake in shares of K2M Group Holdings by 7.1% during the first 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, Teachers Advisors LLC grew its stake in shares of K2M Group Holdings by 3.0% during the first quarter. Teachers Advisors LLC now owns 43,823 shares of the medical device company’s stock worth $899,000 after purchasing an additional 1,286 shares during the period. 97.77% of the stock is owned by institutional investors and hedge funds.

K2M Group Holdings 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.

Analyst Recommendations for K2M Group Holdings (NASDAQ:KTWO)

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