K2M Group (KTWO) Downgraded by Needham & Company LLC

Needham & Company LLC downgraded shares of K2M Group (NASDAQ:KTWO) from a strong-buy rating to a buy rating in a report issued on Friday, Marketbeat.com reports. They currently have $20.00 price target on the medical device company’s stock, down from their previous price target of $26.00.

A number of other brokerages have also recently issued reports on KTWO. Piper Jaffray Companies reiterated an overweight rating and set a $28.00 target price on shares of K2M Group in a report on Tuesday, October 10th. Oppenheimer set a $24.00 target price on K2M Group and gave the stock a buy rating in a report on Wednesday, October 18th. Royal Bank Of Canada reiterated a buy rating and set a $26.00 target price on shares of K2M Group in a report on Friday, September 22nd. Zacks Investment Research upgraded K2M Group from a hold rating to a buy rating and set a $25.00 target price for the company in a report on Wednesday, October 4th. Finally, Wells Fargo & Company decreased their target price on K2M Group from $28.00 to $23.00 and set an outperform rating for the company in a report on Tuesday, October 10th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of $24.40.

K2M Group (NASDAQ KTWO) traded up $0.11 on Friday, reaching $17.19. The company’s stock had a trading volume of 589,500 shares, compared to its average volume of 409,353. 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 has a 52 week low of $16.44 and a 52 week high of $25.99.

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

A number of institutional investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc lifted its position in 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 worth $138,000 after acquiring an additional 564 shares in the last quarter. Macquarie Group Ltd. lifted its position in K2M Group by 0.3% during the 2nd quarter. Macquarie Group Ltd. now owns 200,656 shares of the medical device company’s stock worth $4,888,000 after acquiring an additional 581 shares in the last quarter. Wells Fargo & Company MN lifted its position in 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 worth $1,542,000 after acquiring an additional 590 shares in the last quarter. Teachers Advisors LLC lifted its position in K2M Group by 3.0% during the 1st quarter. Teachers Advisors LLC now owns 43,823 shares of the medical device company’s stock worth $899,000 after acquiring an additional 1,286 shares in the last quarter. Finally, Denver Investment Advisors LLC lifted its position in 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 worth $590,000 after acquiring an additional 1,530 shares in the last quarter. 99.16% of the stock is currently owned by hedge funds and other institutional investors.

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K2M Group 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 (NASDAQ:KTWO)

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