Today, Candriam Luxembourg S.C.A. Raises Stake in K2M Group Holdings Inc. (KTWO)

Today, Candriam Luxembourg S.C.A. Raises Stake in K2M Group Holdings Inc. (KTWO)

Candriam Luxembourg S.C.A. boosted its position in shares of K2M Group Holdings Inc. (NASDAQ:KTWO) by 3.0% during the second quarter, Holdings Channel reports. The institutional investor owned 68,000 shares of the medical device company’s stock after buying an additional 2,000 shares during the period. Candriam Luxembourg S.C.A.’s holdings in K2M Group Holdings were worth $1,055,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in KTWO. Metropolitan Life Insurance Co. NY boosted its position in shares of K2M Group Holdings by 15.1% in the first quarter. Metropolitan Life Insurance Co. NY now owns 14,399 shares of the medical device company’s stock worth $214,000 after buying an additional 1,886 shares in the last quarter. M&T Bank Corp purchased a new position in shares of K2M Group Holdings during the first quarter worth $241,000. Bogle Investment Management L P DE purchased a new position in shares of K2M Group Holdings during the first quarter worth $560,000. Geode Capital Management LLC boosted its position in shares of K2M Group Holdings by 9.5% in the first quarter. Geode Capital Management LLC now owns 176,261 shares of the medical device company’s stock worth $2,613,000 after buying an additional 15,269 shares in the last quarter. Finally, Kennedy Capital Management Inc. purchased a new position in shares of K2M Group Holdings during the first quarter worth $3,922,000. 62.37% of the stock is currently owned by institutional investors.

Shares of K2M Group Holdings Inc. (NASDAQ:KTWO) traded down 2.26% during midday trading on Thursday, hitting $18.15. The stock had a trading volume of 163,168 shares. The company’s 50 day moving average is $16.90 and its 200 day moving average is $15.41. The company’s market cap is $764.93 million. K2M Group Holdings Inc. has a 52-week low of $10.10 and a 52-week high of $21.67.

K2M Group Holdings (NASDAQ:KTWO) last issued its quarterly earnings data on Wednesday, August 3rd. The medical device company reported ($0.27) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.01. K2M Group Holdings had a negative return on equity of 12.90% and a negative net margin of 17.79%. The business had revenue of $59.20 million for the quarter, compared to the consensus estimate of $57.47 million. During the same period in the prior year, the business posted ($0.16) earnings per share. The company’s quarterly revenue was up 5.0% compared to the same quarter last year. On average, analysts anticipate that K2M Group Holdings Inc. will post ($1.09) earnings per share for the current year.

A number of brokerages have commented on KTWO. Zacks Investment Research raised K2M Group Holdings from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a research note on Wednesday. Gabelli began coverage on K2M Group Holdings in a research note on Friday, September 16th. They issued a “buy” rating and a $22.00 price target on the stock. Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and issued a $23.00 price target on shares of K2M Group Holdings in a research note on Tuesday, September 13th. Wells Fargo & Co. reaffirmed a “buy” rating on shares of K2M Group Holdings in a research note on Sunday, September 11th. Finally, Needham & Company LLC reaffirmed a “strong-buy” rating and issued a $22.00 price target (up from $21.00) on shares of K2M Group Holdings in a research note on Friday, August 5th. One research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $21.86.

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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