K2M Group (NASDAQ:KTWO) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Wednesday.

According to Zacks, “K2M Group Holdings, Inc. is a global medical device company. The Company is focused on designing, developing and commercializing complex spine and minimally invasive spine technologies and techniques. Its products consist of implants, disposables and instruments which are marketed and sold primarily to hospitals for use by spine surgeons. The Company’s products include Complex Spine, Minimally Invasive Spine and Degenerative Spine. Its technologies include MESA, Rail 4D, Deformity Cricket, SERENGETI, RAVINE, EVEREST and tifix. K2M Group Holdings, Inc. is headquartered in Leesburg, Virginia. “

A number of other research firms have also recently weighed in on KTWO. Cowen set a $28.00 price target on shares of K2M Group and gave the stock a “buy” rating in a research note on Thursday, August 17th. Needham & Company LLC reaffirmed a “strong-buy” rating and set a $27.00 price target (down from $29.00) on shares of K2M Group in a research note on Monday, October 9th. They noted that the move was a valuation call. Royal Bank of Canada reaffirmed a “buy” rating and set a $26.00 price target on shares of K2M Group in a research note on Friday, September 22nd. Piper Jaffray Companies reaffirmed a “buy” rating and set a $28.00 price target on shares of K2M Group in a research note on Thursday, September 28th. Finally, Oppenheimer set a $24.00 price target on shares of K2M Group and gave the stock a “buy” rating in a research note on Wednesday, October 18th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the company. K2M Group presently has an average rating of “Buy” and a consensus target price of $24.40.

K2M Group (NASDAQ:KTWO) traded up $0.62 during trading hours on Wednesday, hitting $18.00. 680,522 shares of the stock were exchanged, compared to its average volume of 293,728. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.67 and a current ratio of 3.06. K2M Group has a fifty-two week low of $16.44 and a fifty-two week high of $25.99.

K2M Group (NASDAQ:KTWO) last posted its quarterly earnings results on Wednesday, November 1st. The medical device company reported ($0.20) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.19) by ($0.01). K2M Group had a negative return on equity of 16.02% and a negative net margin of 16.22%. The company had revenue of $62.65 million for the quarter, compared to analyst estimates of $62.69 million. During the same period last year, the company earned ($0.19) earnings per share. The business’s revenue for the quarter was up 5.6% compared to the same quarter last year. equities research analysts expect that K2M Group will post -0.86 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of KTWO. TimesSquare Capital Management LLC grew its stake in K2M Group by 31.5% in the 2nd quarter. TimesSquare Capital Management LLC now owns 2,888,020 shares of the medical device company’s stock valued at $70,352,000 after acquiring an additional 691,000 shares during the last quarter. Elk Creek Partners LLC acquired a new stake in K2M Group in the 3rd quarter valued at about $7,836,000. Prudential Financial Inc. acquired a new stake in K2M Group in the 2nd quarter valued at about $6,595,000. Artemis Investment Management LLP grew its stake in K2M Group by 255.4% in the 2nd quarter. Artemis Investment Management LLP now owns 316,703 shares of the medical device company’s stock valued at $7,716,000 after acquiring an additional 227,582 shares during the last quarter. Finally, State Street Corp grew its stake in K2M Group by 39.8% in the 2nd quarter. State Street Corp now owns 713,257 shares of the medical device company’s stock valued at $17,378,000 after acquiring an additional 203,067 shares during the last quarter. 99.16% of the stock is currently owned by hedge funds and other institutional investors.

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K2M Group 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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