K2M Group Holdings Inc. (KTWO) Earns Outperform Rating from Analysts at Royal Bank Of Canada
Stock analysts at Royal Bank Of Canada initiated coverage on shares of K2M Group Holdings Inc. (NASDAQ:KTWO) in a note issued to investors on Monday. The firm set an “outperform” rating and a $23.00 price target on the medical device company’s stock. Royal Bank Of Canada’s target price would indicate a potential upside of 25.00% from the stock’s current price.
Several other research analysts have also recently issued reports on KTWO. Needham & Company LLC reiterated a “buy” rating on shares of K2M Group Holdings in a research report on Wednesday, June 22nd. Zacks Investment Research cut K2M Group Holdings from a “hold” rating to a “sell” rating in a research report on Wednesday, July 6th. Oppenheimer Holdings Inc. initiated coverage on K2M Group Holdings in a research report on Monday, July 18th. They issued a “buy” rating and a $23.00 price objective for the company. Barclays PLC increased their price objective on K2M Group Holdings from $20.00 to $22.00 and gave the stock an “overweight” rating in a research report on Thursday, August 4th. Finally, Wells Fargo & Co. reiterated 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. The stock currently has a consensus rating of “Buy” and an average target price of $22.11.
Shares of K2M Group Holdings (NASDAQ:KTWO) traded up 5.92% on Monday, hitting $19.49. 236,119 shares of the stock traded hands. The company’s market cap is $821.41 million. 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 is $16.94 and its 200-day moving average is $15.45.
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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, topping the Thomson Reuters’ consensus estimate of ($0.28) by $0.01. The firm earned $59.20 million during 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 revenue was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.16) earnings per share. Equities analysts predict that K2M Group Holdings will post ($1.09) earnings per share for the current year.
A number of hedge funds have recently bought and sold shares of KTWO. BlackRock Advisors LLC boosted its stake in K2M Group Holdings by 31.4% in the second quarter. BlackRock Advisors LLC now owns 12,611 shares of the medical device company’s stock worth $196,000 after buying an additional 3,016 shares in the last quarter. Panagora Asset Management Inc. boosted its stake in K2M Group Holdings by 132.4% in the second quarter. Panagora Asset Management Inc. now owns 13,246 shares of the medical device company’s stock worth $206,000 after buying an additional 7,547 shares in the last quarter. Metropolitan Life Insurance Co. NY boosted its stake in K2M Group Holdings by 15.1% in the first quarter. Metropolitan Life Insurance Co. NY now owns 14,399 shares of the medical device company’s stock worth $214,000 after buying an additional 1,886 shares in the last quarter. American International Group Inc. boosted its stake in K2M Group Holdings by 43.6% in the second quarter. American International Group Inc. now owns 14,817 shares of the medical device company’s stock worth $230,000 after buying an additional 4,500 shares in the last quarter. Finally, Deimos Asset Management LLC bought a new stake in K2M Group Holdings during the second quarter worth approximately $233,000. Hedge funds and other institutional investors own 62.37% of the company’s stock.
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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