K2M Group Holdings Inc (NASDAQ:KTWO) Shares Bought by American International Group Inc.

American International Group Inc. raised its stake in shares of K2M Group Holdings Inc (NASDAQ:KTWO) by 7.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,847 shares of the medical device company’s stock after buying an additional 1,047 shares during the period. American International Group Inc.’s holdings in K2M Group Holdings were worth $325,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in KTWO. IBM Retirement Fund acquired a new stake in K2M Group Holdings during the first quarter valued at about $2,677,000. JPMorgan Chase & Co. raised its stake in K2M Group Holdings by 54.3% in the first quarter. JPMorgan Chase & Co. now owns 1,409,360 shares of the medical device company’s stock valued at $28,906,000 after buying an additional 495,749 shares in the last quarter. Parkwood LLC acquired a new stake in K2M Group Holdings during the first quarter valued at about $223,000. Suntrust Banks Inc. acquired a new stake in K2M Group Holdings during the first quarter valued at about $400,000. Finally, Essex Investment Management Co. LLC acquired a new stake in K2M Group Holdings during the first quarter valued at about $1,529,000. Hedge funds and other institutional investors own 98.55% of the company’s stock.

Shares of K2M Group Holdings Inc (NASDAQ KTWO) traded down 0.021% during midday trading on Wednesday, reaching $24.045. The company had a trading volume of 377,686 shares. The company has a 50 day moving average price of $24.02 and a 200-day moving average price of $21.98. K2M Group Holdings Inc has a one year low of $15.45 and a one year high of $25.99. The firm’s market capitalization is $1.04 billion.

K2M Group Holdings (NASDAQ:KTWO) last issued its earnings results on Tuesday, August 1st. The medical device company reported ($0.21) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.01. K2M Group Holdings had a negative net margin of 13.79% and a negative return on equity of 14.26%. The business had revenue of $65.70 million for the quarter, compared to analysts’ expectations of $66.26 million. During the same quarter in the previous year, the firm posted ($0.27) EPS. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. On average, analysts anticipate that K2M Group Holdings Inc will post ($0.78) EPS for the current fiscal year.

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A number of equities analysts have recently weighed in on the company. TheStreet upgraded K2M Group Holdings from a “d+” rating to a “c” rating in a research note on Monday, May 8th. Royal Bank Of Canada reiterated a “buy” rating on shares of K2M Group Holdings in a research note on Wednesday, May 3rd. Zacks Investment Research upgraded K2M Group Holdings from a “sell” rating to a “hold” rating in a research note on Saturday, August 5th. Oppenheimer Holdings, Inc. set a $26.00 target price on K2M Group Holdings and gave the stock a “buy” rating in a research note on Wednesday, May 3rd. Finally, JMP Securities reiterated an “outperform” rating and set a $30.00 target price (up previously from $27.00) on shares of K2M Group Holdings in a research note on Wednesday, June 28th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $26.25.

In other K2M Group Holdings news, insider John Philip Md Kostuik sold 50,000 shares of the business’s stock in a transaction on Thursday, May 25th. The shares were sold at an average price of $22.70, for a total transaction of $1,135,000.00. Following the sale, the insider now owns 199,107 shares of the company’s stock, valued at approximately $4,519,728.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Gregory S. Cole sold 39,357 shares of the business’s stock in a transaction on Friday, August 11th. The shares were sold at an average price of $23.37, for a total transaction of $919,773.09. The disclosure for this sale can be found here. Insiders have sold a total of 133,260 shares of company stock worth $3,057,224 in the last three months. Insiders own 5.80% 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.

Institutional Ownership by Quarter for K2M Group Holdings (NASDAQ:KTWO)

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