Zacks Investment Research cut shares of K2M Group (NASDAQ:KTWO) from a hold rating to a sell rating in a research report sent to investors on Tuesday morning.

According to Zacks, “K2M Group Holdings, Inc. is a global medical device company. The Company is focused on designing, developing and commercializing complex spine and minimally invasive spine technologies and techniques. Its products consist of implants, disposables and instruments which are marketed and sold primarily to hospitals for use by spine surgeons. The Company’s products include Complex Spine, Minimally Invasive Spine and Degenerative Spine. Its technologies include MESA, Rail 4D, Deformity Cricket, SERENGETI, RAVINE, EVEREST and tifix. K2M Group Holdings, Inc. is headquartered in Leesburg, Virginia. “

Several other equities research analysts also recently issued reports on KTWO. Royal Bank of Canada reaffirmed a buy rating and issued a $26.00 price target on shares of K2M Group in a research report on Friday, September 22nd. Piper Jaffray Companies reaffirmed a buy rating and issued a $28.00 price target on shares of K2M Group in a research report on Thursday, September 28th. Needham & Company LLC reaffirmed a strong-buy rating and issued a $27.00 price target (down from $29.00) on shares of K2M Group in a research report on Monday, October 9th. They noted that the move was a valuation call. ValuEngine downgraded K2M Group from a hold rating to a sell rating in a research report on Tuesday, October 10th. Finally, UBS Group reaffirmed a buy rating and issued a $24.00 price target (down from $26.00) on shares of K2M Group in a research report on Tuesday, October 10th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and ten have assigned a buy rating to the company. The company currently has a consensus rating of Buy and an average price target of $24.50.

Shares of K2M Group (KTWO) traded up $0.04 during trading hours on Tuesday, hitting $20.24. The stock had a trading volume of 305,548 shares, compared to its average volume of 444,214. The firm has a market capitalization of $876.10, a P/E ratio of -21.08 and a beta of 1.34. K2M Group has a 12 month low of $16.44 and a 12 month high of $25.99. The company has a current ratio of 3.06, a quick ratio of 1.67 and a debt-to-equity ratio of 0.29.

K2M Group (NASDAQ:KTWO) last issued its quarterly earnings results on Wednesday, November 1st. The medical device company reported ($0.20) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.19) by ($0.01). The business had revenue of $62.65 million during the quarter, compared to analyst estimates of $62.69 million. K2M Group had a negative net margin of 16.22% and a negative return on equity of 16.02%. The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.19) earnings per share. research analysts predict that K2M Group will post -0.85 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cortina Asset Management LLC lifted its stake in shares of K2M Group by 5.5% in the third quarter. Cortina Asset Management LLC now owns 1,736,285 shares of the medical device company’s stock valued at $36,827,000 after buying an additional 90,365 shares during the period. Schroder Investment Management Group lifted its stake in shares of K2M Group by 0.9% in the third quarter. Schroder Investment Management Group now owns 1,574,831 shares of the medical device company’s stock valued at $32,552,000 after buying an additional 14,491 shares during the period. Vanguard Group Inc. lifted its stake in shares of K2M Group by 12.4% in the second quarter. Vanguard Group Inc. now owns 1,550,592 shares of the medical device company’s stock valued at $37,772,000 after buying an additional 171,502 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of K2M Group by 4.9% in the third quarter. JPMorgan Chase & Co. now owns 1,031,404 shares of the medical device company’s stock valued at $21,318,000 after buying an additional 48,297 shares during the period. Finally, Sectoral Asset Management Inc lifted its stake in K2M Group by 22.9% during the second quarter. Sectoral Asset Management Inc now owns 1,028,219 shares of the medical device company’s stock worth $25,047,000 after purchasing an additional 191,699 shares during the period. Institutional investors and hedge funds own 97.95% of the company’s stock.

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K2M Group Company Profile

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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