K2M Group Holdings’ (KTWO) Buy Rating Reaffirmed at Piper Jaffray Companies
Piper Jaffray Companies reiterated their buy rating on shares of K2M Group Holdings, Inc. (NASDAQ:KTWO) in a research note issued to investors on Friday morning. They currently have a $28.00 price objective on the medical device company’s stock.
Other equities research analysts have also issued reports about the stock. Needham & Company LLC reiterated a buy rating on shares of K2M Group Holdings in a research note on Wednesday, August 2nd. Oppenheimer Holdings, Inc. set a $29.00 target price on shares of K2M Group Holdings and gave the company a buy rating in a research note on Wednesday, August 2nd. Royal Bank Of Canada reiterated a buy rating and set a $26.00 target price on shares of K2M Group Holdings in a research note on Thursday, July 20th. BidaskClub upgraded shares of K2M Group Holdings from a hold rating to a buy rating in a research note on Wednesday, July 19th. Finally, Cowen and Company reiterated a buy rating and set a $26.00 target price on shares of K2M Group Holdings in a research note on Wednesday, July 19th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $25.00.
Shares of K2M Group Holdings (NASDAQ KTWO) traded down $0.16 on Friday, reaching $18.93. 357,739 shares of the company’s stock were exchanged, compared to its average volume of 773,942. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.91 and a current ratio of 3.06.
K2M Group Holdings (NASDAQ:KTWO) last announced its earnings results on Wednesday, November 1st. The medical device company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.01). The company had revenue of $62.65 million for the quarter, compared to analysts’ expectations of $62.69 million. K2M Group Holdings had a negative net margin of 16.22% and a negative return on equity of 16.02%. K2M Group Holdings’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.19) earnings per share. equities research analysts predict that K2M Group Holdings will post -0.85 earnings per share for the current year.
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In other K2M Group Holdings news, CFO Gregory S. Cole sold 39,357 shares of the stock in a transaction on Friday, August 11th. The stock was sold at an average price of $23.37, for a total value of $919,773.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John Philip Md Kostuik sold 1,090 shares of the stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $24.08, for a total value of $26,247.20. Following the completion of the sale, the insider now owns 201,961 shares of the company’s stock, valued at approximately $4,863,220.88. The disclosure for this sale can be found here. Insiders sold a total of 44,129 shares of company stock valued at $1,033,644 over the last 90 days. 5.80% of the stock is currently owned by company insiders.
Hedge funds have recently modified their holdings of the business. BNP Paribas Arbitrage SA increased its stake in K2M Group Holdings by 5,175.3% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,484 shares of the medical device company’s stock worth $109,000 after buying an additional 4,399 shares in the last quarter. Rockefeller Financial Services Inc. purchased a new stake in K2M Group Holdings in the 3rd quarter worth $105,000. Legal & General Group Plc increased its stake in K2M Group Holdings by 9.1% in the 1st quarter. Legal & General Group Plc now owns 6,763 shares of the medical device company’s stock worth $138,000 after buying an additional 564 shares in the last quarter. Dorsey & Whitney Trust CO LLC purchased a new stake in K2M Group Holdings in the 2nd quarter worth $211,000. Finally, Symphony Asset Management LLC purchased a new stake in K2M Group Holdings in the 2nd quarter worth $351,000. Institutional investors and hedge funds own 99.13% of the company’s stock.
About K2M Group Holdings
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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