Trade Report: The Columbus Circle Investors Increases Position in K2M Group Holdings Inc. (KTWO)

The Columbus Circle Investors Increases Position in K2M Group Holdings Inc. (KTWO)

Columbus Circle Investors boosted its stake in shares of K2M Group Holdings Inc. (NASDAQ:KTWO) by 6.9% during the second quarter, Holdings Channel reports. The firm owned 533,078 shares of the medical device company’s stock after buying an additional 34,523 shares during the period. Columbus Circle Investors’ holdings in K2M Group Holdings were worth $8,273,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the stock. California State Teachers Retirement System boosted its position 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. Bank of New York Mellon Corp increased its position in shares of K2M Group Holdings by 0.3% in the second quarter. Bank of New York Mellon Corp now owns 139,850 shares of the medical device company’s stock worth $2,171,000 after buying an additional 401 shares in the last quarter. CAM Group Holding A S increased its position in shares of K2M Group Holdings by 118.6% in the second quarter. CAM Group Holding A S now owns 221,151 shares of the medical device company’s stock worth $3,432,000 after buying an additional 120,000 shares in the last quarter. Candriam Luxembourg S.C.A. increased its position in shares of K2M Group Holdings by 3.0% in the second quarter. Candriam Luxembourg S.C.A. now owns 68,000 shares of the medical device company’s stock worth $1,055,000 after buying an additional 2,000 shares in the last quarter. Finally, Kennedy Capital Management Inc. acquired a new position in shares of K2M Group Holdings during the first quarter worth $3,922,000. Institutional investors own 62.46% of the company’s stock.

Shares of K2M Group Holdings Inc. (NASDAQ:KTWO) traded up 3.48% during mid-day trading on Friday, hitting $16.96. The company’s stock had a trading volume of 441,066 shares. The stock’s market cap is $714.78 million. K2M Group Holdings Inc. has a 1-year low of $10.10 and a 1-year high of $21.67. The company has a 50-day moving average price of $17.76 and a 200-day moving average price of $15.83.

K2M Group Holdings (NASDAQ:KTWO) last announced its quarterly earnings data on Wednesday, August 3rd. The medical device company reported ($0.27) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.28) by $0.01. The company earned $59.20 million during the quarter, compared to analysts’ expectations of $57.47 million. K2M Group Holdings had a negative return on equity of 12.90% and a negative net margin of 17.79%. K2M Group Holdings’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter last year, the company earned ($0.16) EPS. Analysts predict that K2M Group Holdings Inc. will post ($1.09) EPS for the current fiscal year.

KTWO has been the topic of a number of research analyst reports. Zacks Investment Research downgraded K2M Group Holdings from a “hold” rating to a “sell” rating in a report on Wednesday, July 6th. Oppenheimer Holdings Inc. initiated coverage on K2M Group Holdings in a report on Monday, July 18th. They set a “buy” rating and a $23.00 price target on the stock. Barclays PLC lifted their price target on K2M Group Holdings from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Thursday, August 4th. Needham & Company LLC reiterated a “strong-buy” rating and set a $22.00 price target (up previously from $21.00) on shares of K2M Group Holdings in a report on Friday, August 5th. Finally, Wells Fargo & Co. reiterated a “buy” rating on shares of K2M Group Holdings in a report on Sunday, September 11th. Two investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $22.11.

About K2M Group Holdings

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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