K2M Group Holdings Inc. (KTWO) Coverage Initiated at RBC Capital Markets
Research analysts at RBC Capital Markets began coverage on shares of K2M Group Holdings Inc. (NASDAQ:KTWO) in a report issued on Monday, The Fly reports. The brokerage set an “outperform” rating on the medical device company’s stock.
Other research analysts have also issued reports about the stock. Zacks Investment Research raised shares of K2M Group Holdings from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a research note on Wednesday, October 5th. Gabelli started coverage on shares of K2M Group Holdings in a research report on Friday, September 16th. They set a “buy” rating and a $22.00 price target on the stock. Oppenheimer Holdings Inc. started coverage on shares of K2M Group Holdings in a research report on Monday, July 18th. They set a “buy” rating and a $23.00 price target on the stock. Needham & Company LLC reaffirmed a “buy” rating on shares of K2M Group Holdings in a research report on Wednesday, June 22nd. Finally, Wells Fargo & Co. reaffirmed a “buy” rating on shares of K2M Group Holdings in a research report on Sunday, September 11th. One investment 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 company presently has an average rating of “Buy” and an average target price of $22.00.
Shares of K2M Group Holdings (NASDAQ:KTWO) opened at 18.40 on Monday. K2M Group Holdings has a 12-month low of $10.10 and a 12-month high of $21.67. The firm’s 50-day moving average price is $16.94 and its 200-day moving average price is $15.45. The stock’s market cap is $775.47 million.
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K2M Group Holdings (NASDAQ:KTWO) last released its earnings results on Wednesday, August 3rd. The medical device company reported ($0.27) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.28) by $0.01. K2M Group Holdings had a negative net margin of 17.79% and a negative return on equity of 12.90%. The business had revenue of $59.20 million for the quarter, compared to analyst estimates of $57.47 million. During the same period last year, the company posted ($0.16) EPS. The business’s revenue was up 5.0% on a year-over-year basis. On average, analysts forecast that K2M Group Holdings will post ($1.09) EPS for the current fiscal year.
A number of hedge funds have recently bought and sold shares of the stock. M&T Bank Corp bought a new stake in K2M Group Holdings during the first quarter valued at $241,000. UBS Asset Management Americas Inc. increased 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 valued at $6,312,000 after buying an additional 1,596 shares during the period. Wellington Management Group LLP increased 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 valued at $31,303,000 after buying an additional 649,694 shares during the period. Bogle Investment Management L P DE acquired a new position in K2M Group Holdings during the first quarter valued at approximately $560,000. Finally, Kennedy Capital Management Inc. acquired a new position in K2M Group Holdings during the first quarter valued at approximately $3,922,000. Hedge funds and other institutional investors own 62.37% of the company’s stock.
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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