$71.50 Million in Sales Expected for K2M Group Holdings Inc (KTWO) This Quarter
Equities analysts forecast that K2M Group Holdings Inc (NASDAQ:KTWO) will announce $71.50 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for K2M Group’s earnings. The lowest sales estimate is $71.10 million and the highest is $71.90 million. K2M Group reported sales of $62.65 million in the same quarter last year, which indicates a positive year over year growth rate of 14.1%. The company is scheduled to report its next quarterly earnings results on Wednesday, November 7th.
On average, analysts expect that K2M Group will report full-year sales of $289.05 million for the current financial year, with estimates ranging from $289.00 million to $289.10 million. For the next fiscal year, analysts forecast that the company will post sales of $318.60 million, with estimates ranging from $317.80 million to $319.40 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover K2M Group.
K2M Group (NASDAQ:KTWO) last released its quarterly earnings results on Wednesday, August 1st. The medical device company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.06). The firm had revenue of $73.58 million for the quarter, compared to analyst estimates of $70.85 million. K2M Group had a negative return on equity of 16.27% and a negative net margin of 14.49%. The company’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same period last year, the firm earned ($0.21) EPS.
Shares of NASDAQ:KTWO traded down $0.03 during midday trading on Friday, hitting $27.25. 1,152,400 shares of the stock were exchanged, compared to its average volume of 468,627. The company has a market capitalization of $1.19 billion, a PE ratio of -31.39 and a beta of 1.61. The company has a quick ratio of 2.13, a current ratio of 3.48 and a debt-to-equity ratio of 0.51. K2M Group has a twelve month low of $16.44 and a twelve month high of $27.50.
In related news, CFO Gregory S. Cole sold 82,304 shares of K2M Group stock in a transaction dated Thursday, August 30th. The stock was sold at an average price of $27.40, for a total transaction of $2,255,129.60. Following the completion of the sale, the chief financial officer now owns 147,963 shares in the company, valued at approximately $4,054,186.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Gregory S. Cole sold 1,480 shares of K2M Group stock in a transaction dated Thursday, August 16th. The shares were sold at an average price of $20.08, for a total value of $29,718.40. Following the completion of the sale, the chief financial officer now owns 65,659 shares of the company’s stock, valued at approximately $1,318,432.72. The disclosure for this sale can be found here. In the last quarter, insiders have sold 85,346 shares of company stock valued at $2,318,362. 6.00% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently bought and sold shares of the business. Engineers Gate Manager LP purchased a new stake in K2M Group in the 1st quarter valued at about $190,000. First Republic Investment Management Inc. purchased a new stake in K2M Group in the 2nd quarter valued at about $244,000. Natixis Advisors L.P. purchased a new stake in K2M Group in the 1st quarter valued at about $229,000. Renaissance Technologies LLC purchased a new stake in K2M Group in the 2nd quarter valued at about $392,000. Finally, Los Angeles Capital Management & Equity Research Inc. purchased a new stake in K2M Group in the 2nd quarter valued at about $405,000.
About K2M Group
K2M Group Holdings, Inc, a medical device company, provides spine and minimally invasive solutions in the United States and internationally. The company offers implants, disposables, and instruments primarily to hospitals for use by spine surgeons to treat spinal pathologies, such as deformity, trauma, and tumor.
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