King Luther Capital Management Corp Lowers Stake in K2M Group Holdings, Inc. (KTWO)

King Luther Capital Management Corp cut its stake in shares of K2M Group Holdings, Inc. (NASDAQ:KTWO) by 8.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 140,930 shares of the medical device company’s stock after selling 13,190 shares during the period. King Luther Capital Management Corp owned 0.33% of K2M Group worth $2,989,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Legal & General Group Plc lifted its holdings in shares of K2M Group by 9.1% during the 1st quarter. Legal & General Group Plc now owns 6,763 shares of the medical device company’s stock valued at $138,000 after acquiring an additional 564 shares in the last quarter. Macquarie Group Ltd. lifted its holdings in shares of K2M Group by 0.3% during the 2nd quarter. Macquarie Group Ltd. now owns 200,656 shares of the medical device company’s stock valued at $4,888,000 after acquiring an additional 581 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in shares of K2M Group by 0.9% during the 2nd quarter. Wells Fargo & Company MN now owns 63,322 shares of the medical device company’s stock valued at $1,542,000 after acquiring an additional 590 shares in the last quarter. Teachers Advisors LLC lifted its holdings in shares of K2M Group by 3.0% during the 1st quarter. Teachers Advisors LLC now owns 43,823 shares of the medical device company’s stock valued at $899,000 after acquiring an additional 1,286 shares in the last quarter. Finally, Denver Investment Advisors LLC lifted its holdings in shares of K2M Group by 6.7% during the 2nd quarter. Denver Investment Advisors LLC now owns 24,235 shares of the medical device company’s stock valued at $590,000 after acquiring an additional 1,530 shares in the last quarter. 99.16% of the stock is owned by institutional investors.

K2M Group Holdings, Inc. (NASDAQ:KTWO) opened at $17.08 on Friday. K2M Group Holdings, Inc. has a 1-year low of $17.06 and a 1-year high of $25.99. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.06 and a quick ratio of 1.67.

K2M Group (NASDAQ:KTWO) last issued its quarterly earnings data on Wednesday, November 1st. The medical device company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.01). K2M Group had a negative return on equity of 16.02% and a negative net margin of 16.22%. The firm had revenue of $62.65 million during the quarter, compared to analyst estimates of $62.69 million. During the same quarter in the prior year, the firm earned ($0.19) EPS. The business’s quarterly revenue was up 5.6% compared to the same quarter last year. sell-side analysts expect that K2M Group Holdings, Inc. will post -0.86 EPS for the current year.

Several equities analysts recently weighed in on the stock. Cowen set a $28.00 target price on shares of K2M Group and gave the company a “buy” rating in a report on Thursday, August 17th. Piper Jaffray Companies restated an “overweight” rating and set a $28.00 target price on shares of K2M Group in a report on Tuesday, October 10th. BidaskClub lowered shares of K2M Group from a “buy” rating to a “hold” rating in a report on Wednesday. UBS restated a “buy” rating and set a $24.00 target price (down previously from $26.00) on shares of K2M Group in a report on Tuesday, October 10th. Finally, William Blair restated an “outperform” rating on shares of K2M Group in a report on Tuesday, October 10th. One research analyst has rated the stock with a sell rating, two have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $25.00.

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About K2M Group

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

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