K2M Group Holdings Inc (KTWO) Expected to Announce Earnings of -$0.18 Per Share
Brokerages expect that K2M Group Holdings Inc (NASDAQ:KTWO) will post ($0.18) earnings per share (EPS) for the current fiscal quarter, Zacks reports. Three analysts have made estimates for K2M Group’s earnings, with the lowest EPS estimate coming in at ($0.20) and the highest estimate coming in at ($0.16). K2M Group reported earnings of ($0.30) per share during the same quarter last year, which suggests a positive year-over-year growth rate of 40%. The firm is scheduled to issue its next quarterly earnings report on Monday, March 5th.
According to Zacks, analysts expect that K2M Group will report full year earnings of ($0.84) per share for the current fiscal year, with EPS estimates ranging from ($0.88) to ($0.76). For the next fiscal year, analysts forecast that the business will post earnings of ($0.51) per share, with EPS estimates ranging from ($0.78) to ($0.37). Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for K2M Group.
K2M Group (NASDAQ:KTWO) last issued its quarterly earnings data on Wednesday, November 1st. The medical device company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $62.65 million during the quarter, compared to the consensus estimate of $62.69 million. During the same period last year, the company earned ($0.19) earnings per share. The business’s quarterly revenue was up 5.6% compared to the same quarter last year.
A number of equities analysts have issued reports on KTWO shares. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $28.00 price target on shares of K2M Group in a research note on Tuesday, October 10th. Oppenheimer set a $24.00 price target on K2M Group and gave the company a “buy” rating in a research note on Wednesday, October 18th. 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. Zacks Investment Research raised K2M Group from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a research note on Wednesday, October 4th. Finally, Wells Fargo & Co decreased their price target on K2M Group from $28.00 to $23.00 and set an “outperform” rating for the company in a research note on Tuesday, October 10th. One research analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $24.40.
Large investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. lifted its position in shares of K2M Group by 82.3% during the 2nd quarter. Goldman Sachs Group Inc. now owns 211,585 shares of the medical device company’s stock valued at $5,154,000 after acquiring an additional 95,548 shares during the last quarter. Ameriprise Financial Inc. acquired a new stake in shares of K2M Group during the 2nd quarter valued at $1,664,000. Prudential Financial Inc. lifted its position in shares of K2M Group by 12.3% during the 3rd quarter. Prudential Financial Inc. now owns 303,930 shares of the medical device company’s stock valued at $6,446,000 after acquiring an additional 33,200 shares during the last quarter. Schroder Investment Management Group lifted its position in shares of K2M Group by 1.6% during the 2nd quarter. Schroder Investment Management Group now owns 1,560,340 shares of the medical device company’s stock valued at $37,401,000 after acquiring an additional 24,671 shares during the last quarter. Finally, Voya Investment Management LLC lifted its position in shares of K2M Group by 67.5% during the 2nd quarter. Voya Investment Management LLC now owns 17,995 shares of the medical device company’s stock valued at $438,000 after acquiring an additional 7,251 shares during the last quarter. Institutional investors own 97.95% of the company’s stock.
Shares of K2M Group (KTWO) traded up $0.89 during midday trading on Thursday, reaching $19.19. The company’s stock had a trading volume of 426,782 shares, compared to its average volume of 339,427. The company has a current ratio of 3.06, a quick ratio of 1.67 and a debt-to-equity ratio of 0.29. The company has a market cap of $831.47, a price-to-earnings ratio of -19.99 and a beta of 1.34. K2M Group has a 52-week low of $16.44 and a 52-week high of $25.99.
About K2M Group
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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