K2M Group Holdings, Inc. (NASDAQ:KTWO) Stock Rating Reaffirmed by Royal Bank Of Canada
K2M Group Holdings, Inc. (NASDAQ:KTWO)‘s stock had its “buy” rating reissued by equities research analysts at Royal Bank Of Canada in a note issued to investors on Thursday. They presently have a $26.00 price target on the medical device company’s stock. Royal Bank Of Canada’s target price would suggest a potential upside of 4.00% from the stock’s previous close.
A number of other research firms also recently issued reports on KTWO. BidaskClub raised shares of K2M Group Holdings from a “hold” rating to a “buy” rating in a research note on Wednesday. Cowen and Company reissued a “buy” rating and issued a $26.00 price target on shares of K2M Group Holdings in a research note on Wednesday. JMP Securities reissued an “outperform” rating and issued a $30.00 price target (up from $27.00) on shares of K2M Group Holdings in a research note on Wednesday, June 28th. Oppenheimer Holdings, Inc. reissued a “buy” rating on shares of K2M Group Holdings in a research note on Thursday, June 22nd. Finally, TheStreet raised shares of K2M Group Holdings from a “d+” rating to a “c” rating in a research note on Monday, May 8th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $25.88.
Shares of K2M Group Holdings (NASDAQ KTWO) traded up 0.97% during mid-day trading on Thursday, hitting $25.00. The stock had a trading volume of 298,268 shares. The stock’s 50-day moving average is $23.57 and its 200 day moving average is $21.63. The firm’s market capitalization is $1.06 billion. K2M Group Holdings has a 1-year low of $15.45 and a 1-year high of $25.18.
K2M Group Holdings (NASDAQ:KTWO) last released its quarterly earnings results on Tuesday, May 2nd. The medical device company reported ($0.26) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.24) by $0.02. K2M Group Holdings had a negative return on equity of 16.02% and a negative net margin of 17.48%. The company had revenue of $61.89 million during the quarter, compared to the consensus estimate of $60.10 million. Equities research analysts predict that K2M Group Holdings will post ($0.80) EPS for the current fiscal year.
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In other K2M Group Holdings news, insider John Philip Md Kostuik sold 50,000 shares of the company’s stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $22.70, for a total value of $1,135,000.00. Following the sale, the insider now owns 199,107 shares in the company, valued at $4,519,728.90. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Gregory S. Cole sold 42,947 shares of the company’s stock in a transaction dated Friday, June 16th. The stock was sold at an average price of $22.80, for a total transaction of $979,191.60. Following the completion of the sale, the chief financial officer now owns 87,425 shares in the company, valued at approximately $1,993,290. The disclosure for this sale can be found here. In the last 90 days, insiders sold 95,805 shares of company stock worth $2,178,713. Corporate insiders own 5.80% of the company’s stock.
A number of large investors have recently made changes to their positions in the company. Legal & General Group Plc boosted its stake in shares of K2M Group Holdings by 9.1% in the first quarter. Legal & General Group Plc now owns 6,763 shares of the medical device company’s stock worth $138,000 after buying an additional 564 shares during the period. Simplex Trading LLC purchased a new stake in K2M Group Holdings during the first quarter worth approximately $187,000. Parkwood LLC purchased a new stake in K2M Group Holdings during the first quarter worth approximately $223,000. Paradigm Capital Management Inc. NY purchased a new stake in K2M Group Holdings during the first quarter worth approximately $226,000. Finally, Trexquant Investment LP purchased a new stake in K2M Group Holdings during the first quarter worth approximately $250,000. Institutional investors and hedge funds own 98.75% 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 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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