K2M Group Holdings’ (KTWO) “Strong-Buy” Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reaffirmed their strong-buy rating on shares of K2M Group Holdings, Inc. (NASDAQ:KTWO) in a report issued on Monday morning, Marketbeat.com reports. Needham & Company LLC currently has a $27.00 price objective on the medical device company’s stock, down from their prior price objective of $29.00. The analysts noted that the move was a valuation call.

KTWO has been the subject of a number of other research reports. Zacks Investment Research raised shares of K2M Group Holdings from a hold rating to a buy rating and set a $25.00 price objective for the company in a research report on Wednesday, October 4th. Royal Bank Of Canada reissued a buy rating and issued a $26.00 target price on shares of K2M Group Holdings in a research note on Friday, September 22nd. Piper Jaffray Companies reissued a buy rating and issued a $28.00 target price on shares of K2M Group Holdings in a research note on Thursday, September 28th. JMP Securities reissued an outperform rating and issued a $30.00 target price (up previously from $27.00) on shares of K2M Group Holdings in a research note on Wednesday, June 28th. Finally, BidaskClub raised shares of K2M Group Holdings from a hold rating to a buy rating in a research note on Wednesday, July 19th. One analyst has rated the stock with a sell rating, one has given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. K2M Group Holdings presently has a consensus rating of Buy and a consensus price target of $25.60.

K2M Group Holdings (NASDAQ KTWO) opened at 19.02 on Monday. The firm’s market capitalization is $822.96 million. K2M Group Holdings has a 1-year low of $16.32 and a 1-year high of $25.99. The company has a 50-day moving average price of $21.69 and a 200-day moving average price of $22.47.

K2M Group Holdings (NASDAQ:KTWO) last announced its quarterly earnings data on Tuesday, August 1st. The medical device company reported ($0.21) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.22) by $0.01. The business had revenue of $65.70 million during the quarter, compared to analyst estimates of $66.26 million. K2M Group Holdings had a negative net margin of 16.21% and a negative return on equity of 15.45%. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.27) earnings per share. On average, equities research analysts predict that K2M Group Holdings will post ($0.82) earnings per share for the current fiscal year.

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In other news, CFO Gregory S. Cole sold 2,350 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $24.08, for a total transaction of $56,588.00. Following the transaction, the chief financial officer now directly owns 55,158 shares in the company, valued at $1,328,204.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Philip Md Kostuik sold 1,090 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $24.08, for a total transaction of $26,247.20. Following the transaction, the insider now owns 201,961 shares in the company, valued at $4,863,220.88. The disclosure for this sale can be found here. Insiders have sold 44,129 shares of company stock worth $1,033,644 over the last ninety days. Insiders own 5.80% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Artemis Investment Management LLP lifted its position in shares of K2M Group Holdings by 255.4% during the second quarter. Artemis Investment Management LLP now owns 316,703 shares of the medical device company’s stock worth $7,716,000 after purchasing an additional 227,582 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of K2M Group Holdings by 54.3% during the first quarter. JPMorgan Chase & Co. now owns 1,409,360 shares of the medical device company’s stock worth $28,906,000 after purchasing an additional 495,749 shares in the last quarter. Nicholas Company Inc. lifted its position in shares of K2M Group Holdings by 6.6% during the first quarter. Nicholas Company Inc. now owns 253,865 shares of the medical device company’s stock worth $5,206,000 after purchasing an additional 15,625 shares in the last quarter. Schroder Investment Management Group lifted its position in shares of K2M Group Holdings by 1.6% during the second quarter. Schroder Investment Management Group now owns 1,560,340 shares of the medical device company’s stock worth $37,401,000 after purchasing an additional 24,671 shares in the last quarter. Finally, Credit Suisse AG lifted its position in shares of K2M Group Holdings by 9.8% during the first quarter. Credit Suisse AG now owns 212,672 shares of the medical device company’s stock worth $4,360,000 after purchasing an additional 18,931 shares in the last quarter. Institutional investors own 97.86% of the company’s stock.

K2M Group Holdings 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 Holdings (NASDAQ:KTWO)

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