K2M Group Holdings, Inc. (KTWO) Issues Quarterly Earnings Results, Misses Estimates By $0.01 EPS
K2M Group Holdings, Inc. (NASDAQ:KTWO) announced its earnings results on Wednesday. The medical device company reported ($0.20) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.19) by ($0.01), Briefing.com reports. 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 $62.65 million for the quarter, compared to analyst estimates of $62.69 million. During the same period in the prior year, the company earned ($0.19) earnings per share. The company’s quarterly revenue was up 5.6% on a year-over-year basis.
Several research analysts recently issued reports on KTWO shares. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating on shares of K2M Group Holdings in a research report on Tuesday, July 11th. Cowen and Company restated a “buy” rating and issued a $26.00 target price on shares of K2M Group Holdings in a research note on Wednesday, July 19th. BidaskClub upgraded K2M Group Holdings from a “hold” rating to a “buy” rating in a research note on Wednesday, July 19th. Royal Bank Of Canada restated a “buy” rating and issued a $26.00 target price on shares of K2M Group Holdings in a research note on Thursday, July 20th. Finally, Needham & Company LLC restated a “buy” rating on shares of K2M Group Holdings in a research note on Wednesday, August 2nd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $25.00.
In related news, insider John Philip Md Kostuik sold 1,090 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $24.08, for a total value of $26,247.20. Following the sale, the insider now owns 201,961 shares of the company’s stock, valued at approximately $4,863,220.88. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Gregory S. Cole sold 2,350 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $24.08, for a total value of $56,588.00. Following the completion of the sale, the chief financial officer now directly owns 55,158 shares in the company, valued at approximately $1,328,204.64. The disclosure for this sale can be found here. Insiders have sold a total of 44,129 shares of company stock worth $1,033,644 in the last three months. Corporate insiders own 5.80% of the company’s stock.
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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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