K2M Group Holdings, Inc. (KTWO) Given “Buy” Rating at Piper Jaffray Companies
K2M Group Holdings, Inc. (NASDAQ:KTWO)‘s stock had its “buy” rating reissued by investment analysts at Piper Jaffray Companies in a note issued to investors on Friday. They presently have a $28.00 price target on the medical device company’s stock. Piper Jaffray Companies’ price target suggests a potential upside of 47.91% from the company’s previous close.
A number of other equities research analysts have also 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 research report on Thursday, August 17th. William Blair reiterated an “outperform” rating on shares of K2M Group Holdings in a report on Tuesday, October 10th. Needham & Company LLC lowered their price objective on K2M Group Holdings from $27.00 to $26.00 and set a “strong-buy” rating on the stock in a report on Thursday. Oppenheimer Holdings, Inc. set a $29.00 price objective on K2M Group Holdings and gave the stock a “buy” rating in a report on Wednesday, August 2nd. Finally, BidaskClub cut K2M Group Holdings from a “buy” rating to a “hold” rating in a report on Monday, July 31st. One research analyst has rated the stock with a sell rating, one has given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $25.00.
Shares of K2M Group Holdings (NASDAQ KTWO) traded down $0.16 on Friday, reaching $18.93. The company’s stock had a trading volume of 357,739 shares, compared to its average volume of 773,942. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.91 and a current ratio of 3.06.
K2M Group Holdings (NASDAQ:KTWO) last posted its earnings results on Wednesday, November 1st. The medical device company reported ($0.20) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.19) by ($0.01). K2M Group Holdings had a negative net margin of 16.22% and a negative return on equity of 16.02%. The business had revenue of $62.65 million for the quarter, compared to analyst estimates of $62.69 million. During the same quarter last year, the business earned ($0.19) earnings per share. K2M Group Holdings’s revenue was up 5.6% on a year-over-year basis. equities analysts anticipate that K2M Group Holdings will post -0.83 earnings per share for the current fiscal year.
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In other K2M Group Holdings news, CFO Gregory S. Cole sold 39,357 shares of the business’s stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $23.37, for a total value of $919,773.09. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider John Philip Md Kostuik sold 1,090 shares of the business’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 $26,247.20. Following the completion of the sale, the insider now directly owns 201,961 shares in the company, valued at approximately $4,863,220.88. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 44,129 shares of company stock worth $1,033,644. Corporate insiders own 5.80% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in KTWO. Rockefeller Financial Services Inc. purchased a new stake in K2M Group Holdings in the third quarter valued at approximately $105,000. BNP Paribas Arbitrage SA grew its stake in shares of K2M Group Holdings by 5,175.3% in the second quarter. BNP Paribas Arbitrage SA now owns 4,484 shares of the medical device company’s stock worth $109,000 after acquiring an additional 4,399 shares in the last quarter. Legal & General Group Plc grew 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 acquiring an additional 564 shares in the last quarter. Dorsey & Whitney Trust CO LLC acquired a new position in shares of K2M Group Holdings in the second quarter worth $211,000. Finally, American International Group Inc. grew its stake in shares of K2M Group Holdings by 7.1% in the first quarter. American International Group Inc. now owns 15,847 shares of the medical device company’s stock worth $325,000 after acquiring an additional 1,047 shares in the last quarter. 99.13% of the stock is currently owned by institutional investors.
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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