K2M Group Holdings, Inc. (KTWO) Expected to Post Quarterly Sales of $66.90 Million
Analysts expect that K2M Group Holdings, Inc. (NASDAQ:KTWO) will announce $66.90 million in sales for the current fiscal quarter, according to Zacks. Two analysts have made estimates for K2M Group Holdings’ earnings. K2M Group Holdings reported sales of $59.31 million in the same quarter last year, which indicates a positive year-over-year growth rate of 12.8%. The business is expected to report its next quarterly earnings results on Wednesday, November 1st.
On average, analysts expect that K2M Group Holdings will report full-year sales of $66.90 million for the current financial year, with estimates ranging from $265.40 million to $267.40 million. For the next financial year, analysts expect that the company will post sales of $302.65 million per share, with estimates ranging from $301.00 million to $304.60 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow K2M Group Holdings.
K2M Group Holdings (NASDAQ:KTWO) last released its quarterly earnings data on Tuesday, August 1st. The medical device company reported ($0.21) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.22) by $0.01. K2M Group Holdings had a negative net margin of 16.21% and a negative return on equity of 15.45%. The company had revenue of $65.70 million during the quarter, compared to analyst estimates of $66.26 million. During the same period in the prior year, the firm earned ($0.27) earnings per share. The firm’s revenue for the quarter was up 11.0% compared to the same quarter last year.
A number of brokerages recently commented on KTWO. Cowen and Company set a $28.00 target price on K2M Group Holdings and gave the company a “buy” rating in a report on Thursday, August 17th. Zacks Investment Research upgraded K2M Group Holdings from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a report on Wednesday. Needham & Company LLC restated a “buy” rating on shares of K2M Group Holdings in a report on Wednesday, August 2nd. Piper Jaffray Companies restated a “buy” rating and set a $28.00 target price on shares of K2M Group Holdings in a report on Thursday, September 28th. Finally, Oppenheimer Holdings, Inc. set a $29.00 target price on K2M Group Holdings and gave the company a “buy” rating in a report on Wednesday, August 2nd. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. K2M Group Holdings currently has a consensus rating of “Buy” and a consensus target price of $27.75.
In other news, CFO Gregory S. Cole sold 2,350 shares of K2M Group Holdings stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $24.08, for a total value of $56,588.00. Following the completion of the transaction, the chief financial officer now owns 55,158 shares in the company, valued at approximately $1,328,204.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Gregory S. Cole sold 39,357 shares of K2M Group Holdings stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $23.37, for a total value of $919,773.09. The disclosure for this sale can be found here. Insiders sold a total of 44,129 shares of company stock valued at $1,033,644 in the last quarter. Company insiders own 5.80% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. BNP Paribas Arbitrage SA boosted its stake in shares of K2M Group Holdings by 5,175.3% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,484 shares of the medical device company’s stock valued at $109,000 after buying an additional 4,399 shares during the period. Legal & General Group Plc boosted its stake in shares of K2M Group Holdings by 9.1% in the 1st quarter. Legal & General Group Plc now owns 6,763 shares of the medical device company’s stock valued at $138,000 after buying an additional 564 shares during the period. Dorsey & Whitney Trust CO LLC purchased a new position in shares of K2M Group Holdings in the 2nd quarter valued at about $211,000. Trexquant Investment LP purchased a new position in shares of K2M Group Holdings in the 1st quarter valued at about $250,000. Finally, American International Group Inc. boosted its stake in shares of K2M Group Holdings by 7.1% in the 1st quarter. American International Group Inc. now owns 15,847 shares of the medical device company’s stock valued at $325,000 after buying an additional 1,047 shares during the period. Institutional investors and hedge funds own 97.86% of the company’s stock.
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Shares of K2M Group Holdings (NASDAQ:KTWO) opened at 22.31 on Friday. K2M Group Holdings has a 1-year low of $16.32 and a 1-year high of $25.99. The stock’s market capitalization is $965.31 million. The company has a 50-day moving average of $22.31 and a 200-day moving average of $22.47.
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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