K2M Group Holdings Inc (KTWO) Upgraded to Buy by BidaskClub
K2M Group Holdings Inc (NASDAQ:KTWO) was upgraded by stock analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued on Wednesday.
Several other research analysts have also issued reports on the company. Royal Bank Of Canada restated a “buy” rating on shares of K2M Group Holdings in a research report on Wednesday, May 3rd. Zacks Investment Research upgraded K2M Group Holdings from a “sell” rating to a “hold” rating in a research report on Thursday, March 23rd. Barclays PLC boosted their target price on K2M Group Holdings from $26.00 to $27.00 and gave the company an “overweight” rating in a research report on Monday, April 24th. Oppenheimer Holdings, Inc. set a $26.00 target price on K2M Group Holdings and gave the company a “buy” rating in a research report on Wednesday, May 3rd. Finally, Cowen and Company restated an “outperform” rating and set a $26.00 target price (up previously from $21.00) on shares of K2M Group Holdings in a research report on Sunday, April 9th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $25.88.
K2M Group Holdings (NASDAQ KTWO) traded up 0.04% on Wednesday, reaching $25.01. The company’s stock had a trading volume of 368,331 shares. K2M Group Holdings has a one year low of $15.45 and a one year high of $25.25. The firm has a 50-day moving average of $23.64 and a 200-day moving average of $21.65. The company’s market capitalization is $1.07 billion.
K2M Group Holdings (NASDAQ:KTWO) last announced its earnings results on Tuesday, May 2nd. The medical device company reported ($0.26) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.24) by $0.02. K2M Group Holdings had a negative net margin of 17.57% and a negative return on equity of 16.87%. The business had revenue of $61.89 million for the quarter, compared to analysts’ expectations of $60.10 million. Analysts predict that K2M Group Holdings will post ($0.80) EPS for the current year.
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In related news, insider John Philip Md Kostuik sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, May 25th. The stock was sold at an average price of $22.70, for a total value of $1,135,000.00. Following the completion of the sale, the insider now owns 199,107 shares in the company, valued at $4,519,728.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Gregory S. Cole sold 42,947 shares of the business’s stock in a transaction that occurred on Friday, June 16th. The shares were sold at an average price of $22.80, for a total value of $979,191.60. Following the completion of the sale, the chief financial officer now owns 87,425 shares of the company’s stock, valued at approximately $1,993,290. The disclosure for this sale can be found here. Insiders sold 95,805 shares of company stock valued at $2,178,713 in the last quarter. 5.80% of the stock is owned by company insiders.
Several hedge funds have recently made changes to their positions in KTWO. Goldman Sachs Group Inc. raised its stake in shares of K2M Group Holdings by 11.7% in the first quarter. Goldman Sachs Group Inc. now owns 116,037 shares of the medical device company’s stock worth $2,380,000 after buying an additional 12,194 shares during the last quarter. Point72 Asset Management L.P. raised its stake in shares of K2M Group Holdings by 114.0% in the first quarter. Point72 Asset Management L.P. now owns 555,500 shares of the medical device company’s stock worth $11,393,000 after buying an additional 295,900 shares during the last quarter. Driehaus Capital Management LLC purchased a new stake in shares of K2M Group Holdings during the first quarter worth about $4,753,000. Credit Suisse AG raised its stake in shares of K2M Group Holdings by 9.8% in the first quarter. Credit Suisse AG now owns 212,672 shares of the medical device company’s stock worth $4,360,000 after buying an additional 18,931 shares during the last quarter. Finally, Tudor Investment Corp ET AL raised its stake in shares of K2M Group Holdings by 50.3% in the first quarter. Tudor Investment Corp ET AL now owns 31,420 shares of the medical device company’s stock worth $644,000 after buying an additional 10,519 shares during the last quarter. Hedge funds and other institutional investors own 98.75% 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 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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