K2M Group (NASDAQ:KTWO) was downgraded by investment analysts at Needham & Company LLC from a “strong-buy” rating to a “buy” rating in a research report issued on Friday. They presently have a $20.00 price objective on the medical device company’s stock, down from their previous price objective of $26.00. Needham & Company LLC’s price target suggests a potential upside of 16.35% from the company’s previous close.

Other research analysts also recently issued research reports about the company. Zacks Investment Research upgraded K2M Group from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a research note on Wednesday, October 4th. Piper Jaffray Companies restated a “buy” rating and issued a $28.00 price objective on shares of K2M Group in a research note on Thursday, September 28th. Royal Bank Of Canada restated a “buy” rating and issued a $26.00 price objective on shares of K2M Group in a research note on Friday, September 22nd. Cowen set a $28.00 price objective on K2M Group and gave the company a “buy” rating in a research note on Thursday, August 17th. Finally, Oppenheimer set a $24.00 price objective on K2M Group and gave the company a “buy” rating in a research note on Wednesday, October 18th. One research analyst has rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $24.40.

Shares of K2M Group (NASDAQ KTWO) opened at $17.19 on Friday. K2M Group has a 1-year low of $16.44 and a 1-year high of $25.99. The company has a quick ratio of 1.67, a current ratio of 3.06 and a debt-to-equity ratio of 0.29.

K2M Group (NASDAQ:KTWO) last announced 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 company had revenue of $62.65 million for the quarter, compared to the consensus estimate of $62.69 million. K2M Group had a negative return on equity of 16.02% and a negative net margin of 16.22%. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter last year, the company posted ($0.19) EPS. equities research analysts predict that K2M Group will post -0.86 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of KTWO. Teachers Advisors LLC lifted its position in shares of K2M Group by 3.0% during the 1st quarter. Teachers Advisors LLC now owns 43,823 shares of the medical device company’s stock valued at $899,000 after buying an additional 1,286 shares during the last quarter. Legal & General Group Plc lifted its position in shares of K2M Group by 9.1% during the 1st quarter. Legal & General Group Plc now owns 6,763 shares of the medical device company’s stock valued at $138,000 after buying an additional 564 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of K2M Group by 13.8% during the 1st quarter. Vanguard Group Inc. now owns 1,379,090 shares of the medical device company’s stock valued at $28,285,000 after buying an additional 167,036 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of K2M Group by 10.7% during the 1st quarter. Geode Capital Management LLC now owns 275,498 shares of the medical device company’s stock valued at $5,650,000 after buying an additional 26,578 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its position in shares of K2M Group by 5.7% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 131,780 shares of the medical device company’s stock valued at $2,703,000 after buying an additional 7,152 shares during the last quarter. 99.16% of the stock is currently owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for K2M Group (NASDAQ:KTWO)

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