FY2017 EPS Estimates for K2M Group Holdings Inc Lowered by Analyst (KTWO)

K2M Group Holdings Inc (NASDAQ:KTWO) – Equities researchers at Gabelli decreased their FY2017 EPS estimates for K2M Group Holdings in a report released on Thursday, according to Zacks Investment Research. Gabelli analyst J. Tsai now anticipates that the medical device company will post earnings of ($0.75) per share for the year, down from their prior estimate of ($0.60). Gabelli also issued estimates for K2M Group Holdings’ FY2018 earnings at ($0.30) EPS, FY2019 earnings at $0.00 EPS and FY2020 earnings at $0.25 EPS.

K2M Group Holdings (NASDAQ:KTWO) last issued its quarterly earnings results on Tuesday, May 2nd. The medical device company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by $0.02. The business had revenue of $61.89 million during the quarter, compared to analysts’ expectations of $60.10 million. K2M Group Holdings had a negative net margin of 16.45% and a negative return on equity of 13.03%.

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Several other equities research analysts also recently issued reports on KTWO. TheStreet raised K2M Group Holdings from a “d+” rating to a “c” rating in a research report on Monday, May 8th. Zacks Investment Research raised K2M Group Holdings from a “sell” rating to a “hold” rating in a research report on Thursday, March 30th. Royal Bank of Canada reissued a “buy” rating on shares of K2M Group Holdings in a research report on Wednesday, May 3rd. Needham & Company LLC reissued a “buy” rating and set a $29.00 target price on shares of K2M Group Holdings in a research report on Tuesday, March 7th. Finally, Oppenheimer Holdings Inc. set a $26.00 price objective on K2M Group Holdings and gave the company a “buy” rating in a report on Wednesday, May 3rd. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. K2M Group Holdings has a consensus rating of “Buy” and an average price target of $24.78.

Shares of K2M Group Holdings (NASDAQ:KTWO) traded up 0.72% on Monday, reaching $22.26. The company had a trading volume of 135,534 shares. The company has a 50-day moving average price of $21.40 and a 200-day moving average price of $20.38. The firm’s market capitalization is $947.30 million. K2M Group Holdings has a 52-week low of $10.29 and a 52-week high of $23.92.

A number of hedge funds and other institutional investors have recently bought and sold shares of KTWO. Peregrine Capital Management LLC bought a new position in K2M Group Holdings during the third quarter valued at $17,126,000. TimesSquare Capital Management LLC boosted its position in K2M Group Holdings by 44.0% in the first quarter. TimesSquare Capital Management LLC now owns 2,197,020 shares of the medical device company’s stock valued at $45,061,000 after buying an additional 671,120 shares during the period. Citadel Advisors LLC boosted its position in K2M Group Holdings by 3,357.5% in the first quarter. Citadel Advisors LLC now owns 628,808 shares of the medical device company’s stock valued at $12,897,000 after buying an additional 610,621 shares during the period. JPMorgan Chase & Co. boosted its position 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 during the period. Finally, Next Century Growth Investors LLC boosted its position in K2M Group Holdings by 134.8% in the first quarter. Next Century Growth Investors LLC now owns 553,654 shares of the medical device company’s stock valued at $11,355,000 after buying an additional 317,878 shares during the period. Hedge funds and other institutional investors own 68.06% 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.

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