Shares of K2M Group Holdings Inc. (NASDAQ:KTWO) have earned a consensus recommendation of “Buy” from the ten ratings firms that are currently covering the company. Two analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $22.17.
KTWO has been the topic of a number of research reports. Gabelli initiated coverage on K2M Group Holdings in a research report on Friday, September 16th. They set a “buy” rating and a $22.00 price objective on the stock. Oppenheimer Holdings Inc. restated an “outperform” rating on shares of K2M Group Holdings in a research report on Tuesday, July 19th. Zacks Investment Research upgraded K2M Group Holdings from a “sell” rating to a “hold” rating in a research report on Tuesday, August 9th. Needham & Company LLC restated a “buy” rating on shares of K2M Group Holdings in a research report on Wednesday, June 22nd. Finally, Barclays PLC boosted their price objective on K2M Group Holdings from $20.00 to $22.00 and gave the company an “overweight” rating in a research report on Thursday, August 4th.
Shares of K2M Group Holdings (NASDAQ:KTWO) opened at 17.70 on Monday. K2M Group Holdings has a 52 week low of $10.10 and a 52 week high of $21.67. The company has a 50-day moving average of $16.69 and a 200-day moving average of $15.23. The firm’s market capitalization is $745.97 million.
K2M Group Holdings (NASDAQ:KTWO) last released its quarterly earnings data on Wednesday, August 3rd. The medical device company reported ($0.27) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.01. The business had revenue of $59.20 million for the quarter, compared to analysts’ expectations of $57.47 million. K2M Group Holdings had a negative return on equity of 12.90% and a negative net margin of 17.79%. K2M Group Holdings’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period in the previous year, the business posted ($0.16) earnings per share. On average, equities analysts forecast that K2M Group Holdings will post ($1.09) earnings per share for the current fiscal year.
A number of institutional investors have recently bought and sold shares of KTWO. M&T Bank Corp acquired a new position in K2M Group Holdings during the first quarter worth approximately $241,000. UBS Asset Management Americas Inc. raised its position in K2M Group Holdings by 0.4% in the first quarter. UBS Asset Management Americas Inc. now owns 425,606 shares of the medical device company’s stock worth $6,312,000 after buying an additional 1,596 shares in the last quarter. Geode Capital Management LLC raised its position in K2M Group Holdings by 9.5% in the first quarter. Geode Capital Management LLC now owns 176,261 shares of the medical device company’s stock worth $2,613,000 after buying an additional 15,269 shares in the last quarter. Wellington Management Group LLP raised its position in K2M Group Holdings by 44.5% in the first quarter. Wellington Management Group LLP now owns 2,110,822 shares of the medical device company’s stock worth $31,303,000 after buying an additional 649,694 shares in the last quarter. Finally, Bogle Investment Management L P DE acquired a new position in K2M Group Holdings during the first quarter worth approximately $560,000. 62.37% 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 technologies and techniques. The Company’s spine products are used by spine surgeons to treat spinal pathologies, such as deformity (primarily scoliosis), trauma and tumor. The Company is engaged in designing, development and commercialization of products for patients suffering from degenerative spinal conditions.
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