Royal Bank Of Canada assumed coverage on shares of K2M Group Holdings Inc. (NASDAQ:KTWO) in a research note released on Monday. The firm issued an outperform rating and a $23.00 price target on the medical device company’s stock.
Several other analysts have also commented on the company. Zacks Investment Research raised K2M Group Holdings from a hold rating to a buy rating and set a $20.00 price objective for the company in a report on Wednesday, October 5th. Gabelli started coverage on K2M Group Holdings in a report on Friday, September 16th. They issued a buy rating and a $22.00 price objective for the company. Oppenheimer Holdings Inc. reaffirmed an outperform rating on shares of K2M Group Holdings in a report on Tuesday, July 19th. Needham & Company LLC reaffirmed a buy rating on shares of K2M Group Holdings in a report on Wednesday, June 22nd. Finally, Barclays PLC lifted their price objective on K2M Group Holdings from $20.00 to $22.00 and gave the stock an overweight rating in a report on Thursday, August 4th. One analyst has rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and an average price target of $22.11.
K2M Group Holdings (NASDAQ:KTWO) opened at 18.20 on Monday. The stock’s 50 day moving average price is $17.19 and its 200 day moving average price is $15.59. K2M Group Holdings has a 1-year low of $10.10 and a 1-year high of $21.67. The company’s market cap is $767.04 million.
K2M Group Holdings (NASDAQ:KTWO) last issued its quarterly earnings data on Wednesday, August 3rd. The medical device company reported ($0.27) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.28) by $0.01. K2M Group Holdings had a negative return on equity of 12.90% and a negative net margin of 17.79%. The company earned $59.20 million during the quarter, compared to analyst estimates of $57.47 million. During the same quarter in the previous year, the company posted ($0.16) earnings per share. K2M Group Holdings’s revenue was up 5.0% compared to the same quarter last year. On average, equities analysts anticipate that K2M Group Holdings will post ($1.09) earnings per share for the current fiscal year.
A number of hedge funds have recently made changes to their positions in KTWO. BlackRock Advisors LLC boosted its stake in shares of K2M Group Holdings by 31.4% in the second quarter. BlackRock Advisors LLC now owns 12,611 shares of the medical device company’s stock valued at $196,000 after buying an additional 3,016 shares during the period. Panagora Asset Management Inc. boosted its stake in shares of K2M Group Holdings by 132.4% in the second quarter. Panagora Asset Management Inc. now owns 13,246 shares of the medical device company’s stock valued at $206,000 after buying an additional 7,547 shares during the period. Metropolitan Life Insurance Co. NY boosted its stake in shares of K2M Group Holdings by 15.1% in the first quarter. Metropolitan Life Insurance Co. NY now owns 14,399 shares of the medical device company’s stock valued at $214,000 after buying an additional 1,886 shares during the period. American International Group Inc. boosted its stake in shares of K2M Group Holdings by 43.6% in the second quarter. American International Group Inc. now owns 14,817 shares of the medical device company’s stock valued at $230,000 after buying an additional 4,500 shares during the period. Finally, Deimos Asset Management LLC bought a new stake in shares of K2M Group Holdings during the second quarter valued at about $233,000. 62.37% of the stock is currently owned by institutional investors and hedge funds.
K2M Group Holdings Company Profile
K2M Group Holdings, Inc is a medical device company focused on designing, developing and commercializing spine technologies and techniques. The Company’s spine products are used by spine surgeons to treat spinal pathologies, such as deformity (primarily scoliosis), trauma and tumor. The Company is engaged in designing, development and commercialization of products for patients suffering from degenerative spinal conditions.
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