Analysts Anticipate K2M Group Holdings Inc (KTWO) Will Post Quarterly Sales of $65.57 Million

Equities research analysts predict that K2M Group Holdings Inc (NASDAQ:KTWO) will report $65.57 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for K2M Group’s earnings, with the highest sales estimate coming in at $66.00 million and the lowest estimate coming in at $65.30 million. K2M Group posted sales of $61.79 million in the same quarter last year, which would indicate a positive year over year growth rate of 6.1%. The company is scheduled to announce its next earnings results on Monday, March 5th.

On average, analysts expect that K2M Group will report full-year sales of $65.57 million for the current fiscal year, with estimates ranging from $255.60 million to $265.50 million. For the next fiscal year, analysts anticipate that the business will post sales of $283.38 million per share, with estimates ranging from $281.60 million to $286.20 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow K2M Group.

K2M Group (NASDAQ:KTWO) last released its quarterly earnings results on Wednesday, November 1st. The medical device company reported ($0.20) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.19) by ($0.01). The firm had revenue of $62.65 million for the quarter, compared to analyst estimates of $62.69 million. K2M Group had a negative net margin of 16.22% and a negative return on equity of 16.02%. The firm’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.19) EPS.

Several analysts recently commented on the stock. Zacks Investment Research upgraded shares of K2M Group from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a research report on Wednesday, October 4th. Needham & Company LLC reiterated a “strong-buy” rating and issued a $27.00 target price (down previously from $29.00) on shares of K2M Group in a research report on Monday, October 9th. They noted that the move was a valuation call. Royal Bank of Canada reiterated a “buy” rating and issued a $26.00 target price on shares of K2M Group in a research report on Friday, September 22nd. Piper Jaffray Companies reiterated a “buy” rating and issued a $28.00 target price on shares of K2M Group in a research report on Thursday, September 28th. Finally, Oppenheimer set a $24.00 target price on shares of K2M Group and gave the company a “buy” rating in a research report on Wednesday, October 18th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $24.40.

Shares of K2M Group (NASDAQ:KTWO) opened at $19.19 on Friday. The company has a market cap of $809.16, a price-to-earnings ratio of -19.99 and a beta of 1.34. The company has a current ratio of 3.06, a quick ratio of 1.67 and a debt-to-equity ratio of 0.29. K2M Group has a 52-week low of $16.44 and a 52-week high of $25.99.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. grew its position in shares of K2M Group by 82.3% in the second quarter. Goldman Sachs Group Inc. now owns 211,585 shares of the medical device company’s stock valued at $5,154,000 after purchasing an additional 95,548 shares during the period. Ameriprise Financial Inc. acquired a new position in K2M Group during the second quarter worth about $1,664,000. Prudential Financial Inc. boosted its position in K2M Group by 12.3% during the third quarter. Prudential Financial Inc. now owns 303,930 shares of the medical device company’s stock worth $6,446,000 after acquiring an additional 33,200 shares during the last quarter. Schroder Investment Management Group boosted its position in K2M Group by 1.6% during the second quarter. Schroder Investment Management Group now owns 1,560,340 shares of the medical device company’s stock worth $37,401,000 after acquiring an additional 24,671 shares during the last quarter. Finally, Voya Investment Management LLC boosted its position in K2M Group by 67.5% during the second quarter. Voya Investment Management LLC now owns 17,995 shares of the medical device company’s stock worth $438,000 after acquiring an additional 7,251 shares during the last quarter. Institutional investors and hedge funds own 97.95% of the company’s stock.

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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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