Trade Report: Today, The Zacks Investment Research Upgraded K2M Group Holdings Inc. (KTWO) to Buy

Today, The Zacks Investment Research Upgraded K2M Group Holdings Inc. (KTWO) to Buy

K2M Group Holdings Inc. (NASDAQ:KTWO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday. The firm presently has a $21.00 price objective on the medical device company’s stock. Zacks Investment Research’s price objective would suggest a potential upside of 10.24% from the stock’s previous close.

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 brokerages have also recently commented on KTWO. RBC Capital Markets assumed coverage on K2M Group Holdings in a research report on Monday, October 10th. They issued an “outperform” rating and a $23.00 target price for the company. Royal Bank Of Canada assumed coverage on K2M Group Holdings in a research report on Monday, October 10th. They issued an “outperform” rating and a $23.00 target price for the company. Needham & Company LLC reaffirmed a “strong-buy” rating and issued a $22.00 target price (up from $21.00) on shares of K2M Group Holdings in a research report on Friday, August 5th. Oppenheimer Holdings Inc. reaffirmed an “outperform” rating on shares of K2M Group Holdings in a research report on Tuesday, July 19th. Finally, Gabelli assumed coverage on K2M Group Holdings in a research report on Friday, September 16th. They issued a “buy” rating and a $22.00 target price for the company. Two investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $22.22.

Shares of K2M Group Holdings (NASDAQ:KTWO) traded down 2.26% during midday trading on Tuesday, hitting $19.05. 436,508 shares of the company were exchanged. K2M Group Holdings has a one year low of $10.10 and a one year high of $21.67. The company’s 50 day moving average price is $18.41 and its 200 day moving average price is $16.33. The firm’s market cap is $803.85 million.

K2M Group Holdings (NASDAQ:KTWO) last posted its quarterly earnings data on Wednesday, November 2nd. The medical device company reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.30) by $0.11. The company earned $59.30 million during the quarter, compared to analysts’ expectations of $58.21 million. K2M Group Holdings had a negative return on equity of 13.03% and a negative net margin of 16.45%. K2M Group Holdings’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.25) earnings per share. Equities analysts expect that K2M Group Holdings will post ($0.97) EPS for the current year.

In other news, major shareholder Carson Anderson & Stow Welsh sold 4,416,825 shares of the firm’s stock in a transaction on Wednesday, November 16th. The stock was sold at an average price of $18.39, for a total value of $81,225,411.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.80% of the stock is owned by insiders.

A number of hedge funds have recently made changes to their positions in the company. Jennison Associates LLC purchased a new stake in shares of K2M Group Holdings during the second quarter worth approximately $549,000. Emerald Acquisition Ltd. purchased a new stake in shares of K2M Group Holdings during the second quarter worth approximately $337,000. Swiss National Bank raised its stake in shares of K2M Group Holdings by 8.5% in the second quarter. Swiss National Bank now owns 42,200 shares of the medical device company’s stock worth $655,000 after buying an additional 3,300 shares during the last quarter. Columbus Circle Investors raised its stake in shares of K2M Group Holdings by 6.9% in the second quarter. Columbus Circle Investors now owns 533,078 shares of the medical device company’s stock worth $8,273,000 after buying an additional 34,523 shares during the last quarter. Finally, California State Teachers Retirement System raised its stake in shares of K2M Group Holdings by 44.8% in the second quarter. California State Teachers Retirement System now owns 53,971 shares of the medical device company’s stock worth $838,000 after buying an additional 16,703 shares during the last quarter. Hedge funds and other institutional investors own 67.53% 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 technologies and techniques. The Company’s spine products are used by spine surgeons to treat spinal pathologies, such as deformity (primarily scoliosis), trauma and tumor. The Company is engaged in designing, development and commercialization of products for patients suffering from degenerative spinal conditions.

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