Sit Investment Associates Inc. cut its position in K2M Group Holdings Inc. (NASDAQ:KTWO) by 1.2% during the second quarter, Holdings Channel reports. The fund owned 109,800 shares of the medical device company’s stock after selling 1,300 shares during the period. Sit Investment Associates Inc.’s holdings in K2M Group Holdings were worth $1,704,000 at the end of the most recent reporting period.
Several other institutional investors have also recently bought and sold shares of the company. 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 in the last quarter. M&T Bank Corp bought a new stake in shares of K2M Group Holdings during the first quarter valued at $241,000. Bogle Investment Management L P DE bought a new stake in shares of K2M Group Holdings during the first quarter valued at $560,000. Candriam Luxembourg S.C.A. boosted its stake in shares of K2M Group Holdings by 3.0% in the second quarter. Candriam Luxembourg S.C.A. now owns 68,000 shares of the medical device company’s stock valued at $1,055,000 after buying an additional 2,000 shares in the last quarter. Finally, Kennedy Capital Management Inc. bought a new stake in shares of K2M Group Holdings during the first quarter valued at $3,922,000. Hedge funds and other institutional investors own 62.37% of the company’s stock.
Shares of K2M Group Holdings Inc. (NASDAQ:KTWO) traded down 3.03% on Tuesday, hitting $18.55. The stock had a trading volume of 314,703 shares. The company’s market cap is $781.79 million. K2M Group Holdings Inc. has a 52-week low of $10.10 and a 52-week high of $21.67. The company has a 50-day moving average of $17.01 and a 200-day moving average of $15.53.
K2M Group Holdings (NASDAQ:KTWO) last issued its earnings results on Wednesday, August 3rd. The medical device company reported ($0.27) earnings per share (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 firm had revenue of $59.20 million for the quarter, compared to analysts’ expectations of $57.47 million. During the same period in the previous year, the firm posted ($0.16) earnings per share. The business’s revenue was up 5.0% compared to the same quarter last year. On average, equities analysts anticipate that K2M Group Holdings Inc. will post ($1.09) EPS for the current fiscal year.
Several brokerages recently weighed in on KTWO. Royal Bank Of Canada began coverage on K2M Group Holdings in a report on Monday. They set an “outperform” rating and a $23.00 target price for the company. RBC Capital Markets began coverage on K2M Group Holdings in a report on Monday. They set an “outperform” rating and a $23.00 target price for the company. Zacks Investment Research upgraded K2M Group Holdings from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a report on Wednesday, October 5th. Needham & Company LLC restated a “strong-buy” rating and set a $22.00 target price (up from $21.00) on shares of K2M Group Holdings in a report on Friday, August 5th. Finally, Oppenheimer Holdings Inc. restated an “outperform” rating on shares of K2M Group Holdings in a report on Tuesday, July 19th. One analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $22.11.
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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