Royal Bank Of Canada initiated coverage on shares of K2M Group Holdings Inc. (NASDAQ:KTWO) in a research note published on Monday morning. The brokerage issued an outperform rating and a $23.00 price target on the medical device company’s stock.
Several other brokerages have also commented on KTWO. Zacks Investment Research lowered K2M Group Holdings from a hold rating to a sell rating in a report on Wednesday, July 6th. Needham & Company LLC reissued a buy rating on shares of K2M Group Holdings in a report on Wednesday, June 22nd. Gabelli started coverage on K2M Group Holdings in a report on Friday, September 16th. They set a buy rating and a $22.00 price objective for the company. Oppenheimer Holdings Inc. started coverage on K2M Group Holdings in a report on Monday, July 18th. They set a buy rating and a $23.00 price objective for the company. Finally, Barclays PLC boosted their price objective on K2M Group Holdings from $20.00 to $22.00 and gave the stock an overweight rating in a report on Thursday, August 4th. One research analyst has rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of Buy and a consensus target price of $22.11.
Shares of K2M Group Holdings (NASDAQ:KTWO) traded down 1.67% during mid-day trading on Monday, hitting $18.81. 149,579 shares of the stock traded hands. K2M Group Holdings has a 52 week low of $10.10 and a 52 week high of $21.67. The firm’s 50-day moving average is $17.01 and its 200-day moving average is $15.53. The stock’s market cap is $792.75 million.
K2M Group Holdings (NASDAQ:KTWO) last issued its quarterly earnings data on Wednesday, August 3rd. The medical device company reported ($0.27) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.28) by $0.01. K2M Group Holdings had a negative return on equity of 12.90% and a negative net margin of 17.79%. The company earned $59.20 million during the quarter, compared to analyst estimates of $57.47 million. During the same quarter in the previous year, the firm earned ($0.16) earnings per share. K2M Group Holdings’s revenue was up 5.0% on a year-over-year basis. On average, analysts forecast that K2M Group Holdings will post ($1.09) earnings per share for the current year.
A number of hedge funds have recently modified their holdings of KTWO. Wellington Management Group LLP increased its stake in shares of 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 valued at $31,303,000 after buying an additional 649,694 shares during the last quarter. M&T Bank Corp bought a new stake in shares of K2M Group Holdings during the first quarter valued at $241,000. Schroder Investment Management Group increased its stake in shares of K2M Group Holdings by 33.1% in the second quarter. Schroder Investment Management Group now owns 802,966 shares of the medical device company’s stock valued at $12,462,000 after buying an additional 199,500 shares during the last quarter. Kennedy Capital Management Inc. bought a new stake in shares of K2M Group Holdings during the first quarter valued at $3,922,000. Finally, Bogle Investment Management L P DE bought a new stake in shares of K2M Group Holdings during the first quarter valued at $560,000. 62.37% 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 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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