Oppenheimer Holdings Research Analysts Lower Earnings Estimates for K2M Group Holdings, Inc. (KTWO)
K2M Group Holdings, Inc. (NASDAQ:KTWO) – Equities research analysts at Oppenheimer Holdings dropped their Q3 2017 earnings per share estimates for shares of K2M Group Holdings in a research note issued on Wednesday. Oppenheimer Holdings analyst S. Lichtman now anticipates that the medical device company will post earnings of ($0.21) per share for the quarter, down from their prior forecast of ($0.15). Oppenheimer Holdings has a “Buy” rating and a $24.00 price target on the stock. Oppenheimer Holdings also issued estimates for K2M Group Holdings’ Q4 2017 earnings at ($0.16) EPS, FY2017 earnings at ($0.84) EPS and FY2018 earnings at ($0.45) EPS.
A number of other research analysts have also recently issued reports on the stock. Cowen and Company reaffirmed a “buy” rating and issued a $26.00 price target on shares of K2M Group Holdings in a report on Wednesday, July 19th. Needham & Company LLC reaffirmed a “strong-buy” rating and issued a $27.00 price target (down previously from $29.00) on shares of K2M Group Holdings in a report on Monday, October 9th. They noted that the move was a valuation call. JMP Securities reaffirmed an “outperform” rating and issued a $30.00 price target (up previously from $27.00) on shares of K2M Group Holdings in a report on Wednesday, June 28th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $26.00 price target on shares of K2M Group Holdings in a report on Thursday, July 20th. Finally, Zacks Investment Research raised shares of K2M Group Holdings from a “sell” rating to a “hold” rating in a report on Saturday, August 5th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eleven have given a buy rating to the company’s stock. K2M Group Holdings currently has a consensus rating of “Buy” and an average target price of $25.10.
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Shares of K2M Group Holdings (NASDAQ KTWO) opened at 19.75 on Friday. The company’s market cap is $854.54 million. K2M Group Holdings has a 52-week low of $16.32 and a 52-week high of $25.99. The firm has a 50-day moving average of $21.17 and a 200-day moving average of $22.45.
K2M Group Holdings (NASDAQ:KTWO) last posted its earnings results on Tuesday, August 1st. The medical device company reported ($0.21) EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $65.70 million during the quarter, compared to the consensus estimate of $66.26 million. During the same quarter in the previous year, the firm posted ($0.27) EPS. The firm’s revenue was up 11.0% on a year-over-year basis.
In other news, CFO Gregory S. Cole sold 39,357 shares of the stock in a transaction on Friday, August 11th. The shares were sold at an average price of $23.37, for a total value of $919,773.09. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Gregory S. Cole sold 2,350 shares of the stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $24.08, for a total transaction of $56,588.00. Following the completion of the sale, the chief financial officer now owns 55,158 shares in the company, valued at approximately $1,328,204.64. The disclosure for this sale can be found here. Insiders sold 44,129 shares of company stock worth $1,033,644 in the last quarter. Company insiders own 5.80% of the company’s stock.
Several large investors have recently added to or reduced their stakes in KTWO. TimesSquare Capital Management LLC increased its stake in shares of K2M Group Holdings by 31.5% in the second quarter. TimesSquare Capital Management LLC now owns 2,888,020 shares of the medical device company’s stock worth $70,352,000 after acquiring an additional 691,000 shares during the period. Point72 Asset Management L.P. increased 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 acquiring an additional 295,900 shares during the period. Prudential Financial Inc. acquired a new stake in shares of K2M Group Holdings in the second quarter worth $6,595,000. Driehaus Capital Management LLC acquired a new stake in shares of K2M Group Holdings in the first quarter worth $4,753,000. Finally, Artemis Investment Management LLP increased its stake in shares of K2M Group Holdings by 255.4% in the second quarter. Artemis Investment Management LLP now owns 316,703 shares of the medical device company’s stock worth $7,716,000 after acquiring an additional 227,582 shares during the period. Hedge funds and other institutional investors own 97.77% 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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