Sterling Capital Management LLC decreased its stake in K2M Group Holdings Inc (NASDAQ:KTWO) by 5.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 117,151 shares of the medical device company’s stock after selling 6,342 shares during the period. Sterling Capital Management LLC owned approximately 0.27% of K2M Group worth $2,109,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of KTWO. First Trust Advisors LP boosted its position in shares of K2M Group by 53.0% in the third quarter. First Trust Advisors LP now owns 79,744 shares of the medical device company’s stock worth $1,691,000 after buying an additional 27,620 shares during the period. Prudential Financial Inc. boosted its position in shares of K2M Group by 12.3% in the third quarter. Prudential Financial Inc. now owns 303,930 shares of the medical device company’s stock worth $6,446,000 after buying an additional 33,200 shares during the period. Bank of New York Mellon Corp boosted its position in shares of K2M Group by 83.0% in the third quarter. Bank of New York Mellon Corp now owns 380,637 shares of the medical device company’s stock worth $8,073,000 after buying an additional 172,650 shares during the period. Quantbot Technologies LP boosted its position in shares of K2M Group by 275.9% in the third quarter. Quantbot Technologies LP now owns 10,593 shares of the medical device company’s stock worth $224,000 after buying an additional 7,775 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in shares of K2M Group by 4.9% in the third quarter. JPMorgan Chase & Co. now owns 1,031,404 shares of the medical device company’s stock worth $21,318,000 after buying an additional 48,297 shares during the period. 99.31% of the stock is owned by institutional investors.
Several equities research analysts have recently weighed in on KTWO shares. BidaskClub raised K2M Group from a “hold” rating to a “buy” rating in a research report on Wednesday, January 10th. Needham & Company LLC downgraded K2M Group from a “strong-buy” rating to a “buy” rating and reduced their price target for the company from $26.00 to $20.00 in a report on Friday, December 8th. Barclays reissued a “buy” rating and issued a $25.00 price target on shares of K2M Group in a report on Tuesday, January 9th. Oppenheimer set a $24.00 price target on K2M Group and gave the company a “buy” rating in a report on Thursday, March 1st. Finally, Zacks Investment Research raised K2M Group from a “sell” rating to a “hold” rating in a report on Thursday, January 25th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $24.50.
K2M Group (NASDAQ:KTWO) last announced its quarterly earnings data on Wednesday, February 28th. The medical device company reported ($0.20) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.19) by ($0.01). K2M Group had a negative net margin of 14.40% and a negative return on equity of 14.85%. The firm had revenue of $67.80 million for the quarter, compared to analyst estimates of $67.36 million. During the same quarter in the previous year, the company earned ($0.30) EPS. The company’s quarterly revenue was up 9.7% compared to the same quarter last year. research analysts predict that K2M Group Holdings Inc will post -0.72 EPS for the current fiscal year.
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K2M Group 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.
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