K2M Group (KTWO) Stock Rating Lowered by BidaskClub

K2M Group (NASDAQ:KTWO) was downgraded by equities researchers at BidaskClub from a “buy” rating to a “hold” rating in a research report issued on Thursday.

KTWO has been the topic of several other reports. Cowen downgraded K2M Group from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $28.00 to $27.50 in a report on Tuesday, September 4th. JMP Securities downgraded K2M Group from an “outperform” rating to a “market perform” rating in a report on Thursday, August 30th. Oppenheimer downgraded K2M Group from an “outperform” rating to a “hold” rating in a report on Friday, August 31st. ValuEngine upgraded K2M Group from a “hold” rating to a “buy” rating in a report on Thursday, August 30th. Finally, Needham & Company LLC downgraded K2M Group from a “buy” rating to a “hold” rating in a report on Thursday, August 30th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. K2M Group presently has a consensus rating of “Hold” and a consensus price target of $26.17.

KTWO stock opened at $27.50 on Thursday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.13 and a current ratio of 3.48. K2M Group has a 52-week low of $16.44 and a 52-week high of $27.50.

K2M Group (NASDAQ:KTWO) last posted its quarterly earnings data on Thursday, November 8th. The medical device company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.12). K2M Group had a negative return on equity of 16.27% and a negative net margin of 14.49%. Sell-side analysts expect that K2M Group will post -0.77 earnings per share for the current year.

In other news, CFO Gregory S. Cole sold 82,304 shares of the business’s stock in a transaction that occurred on Thursday, August 30th. The stock was sold at an average price of $27.40, for a total value of $2,255,129.60. Following the completion of the sale, the chief financial officer now directly owns 147,963 shares in the company, valued at approximately $4,054,186.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Gregory S. Cole sold 1,480 shares of the business’s stock in a transaction that occurred on Thursday, August 16th. The shares were sold at an average price of $20.08, for a total value of $29,718.40. Following the completion of the sale, the chief financial officer now owns 65,659 shares of the company’s stock, valued at $1,318,432.72. The disclosure for this sale can be found here. Insiders sold a total of 84,479 shares of company stock valued at $2,298,880 over the last quarter. Company insiders own 6.00% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of KTWO. FIL Ltd bought a new stake in shares of K2M Group in the 3rd quarter valued at approximately $47,473,000. Nuance Investments LLC bought a new stake in shares of K2M Group in the 3rd quarter valued at approximately $33,570,000. Gabelli Funds LLC increased its holdings in shares of K2M Group by 307.0% in the 3rd quarter. Gabelli Funds LLC now owns 1,247,792 shares of the medical device company’s stock valued at $34,152,000 after acquiring an additional 941,205 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of K2M Group by 32.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,102,156 shares of the medical device company’s stock valued at $84,905,000 after acquiring an additional 763,330 shares during the last quarter. Finally, Alpine Associates Management Inc. bought a new stake in shares of K2M Group in the 3rd quarter valued at approximately $18,043,000.

About K2M Group

K2M Group Holdings, Inc, a medical device company, provides spine and minimally invasive solutions in the United States and internationally. The company offers implants, disposables, and instruments primarily to hospitals for use by spine surgeons to treat spinal pathologies, such as deformity, trauma, and tumor.

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Analyst Recommendations for K2M Group (NASDAQ:KTWO)

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