K2M Group Holdings Inc (NASDAQ:KTWO) has been given a $26.00 price target by equities research analysts at Oppenheimer Holdings Inc. in a research report issued to clients and investors on Wednesday, May 3rd. The firm presently has a “buy” rating on the medical device company’s stock. Oppenheimer Holdings Inc.’s price target would indicate a potential upside of 17.65% from the company’s previous close.
A number of other research firms have also issued reports on KTWO. Needham & Company LLC reissued a “buy” rating and set a $29.00 price target on shares of K2M Group Holdings in a report on Tuesday, March 7th. Barclays PLC reaffirmed a “buy” rating and issued a $26.00 price objective on shares of K2M Group Holdings in a report on Wednesday, January 11th. Zacks Investment Research raised K2M Group Holdings from a “sell” rating to a “hold” rating in a report on Thursday, March 23rd. JMP Securities reaffirmed an “outperform” rating and issued a $27.00 price objective on shares of K2M Group Holdings in a report on Wednesday, April 12th. Finally, Cowen and Company reaffirmed an “outperform” rating and issued a $26.00 price objective (up previously from $21.00) on shares of K2M Group Holdings in a report on Sunday, April 9th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $24.78.
K2M Group Holdings (NASDAQ:KTWO) traded up 1.13% on Wednesday, reaching $22.35. The company’s stock had a trading volume of 193,514 shares. K2M Group Holdings has a 1-year low of $10.29 and a 1-year high of $23.92. The firm’s 50 day moving average price is $21.40 and its 200-day moving average price is $20.38. The company’s market capitalization is $951.13 million.
K2M Group Holdings (NASDAQ:KTWO) last released its quarterly earnings results on Tuesday, May 2nd. The medical device company reported ($0.26) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.24) by $0.02. K2M Group Holdings had a negative return on equity of 13.03% and a negative net margin of 16.45%. The company had revenue of $61.89 million for the quarter, compared to analysts’ expectations of $60.10 million. Equities analysts forecast that K2M Group Holdings will post ($0.80) earnings per share for the current year.
Several hedge funds have recently made changes to their positions in KTWO. Legal & General Group Plc boosted its stake in shares of K2M Group Holdings by 9.1% in the first quarter. Legal & General Group Plc now owns 6,763 shares of the medical device company’s stock valued at $138,000 after buying an additional 564 shares in the last quarter. Simplex Trading LLC acquired a new stake in shares of K2M Group Holdings during the first quarter worth $187,000. Teton Advisors Inc. acquired a new stake in shares of K2M Group Holdings during the fourth quarter worth $200,000. Parkwood LLC acquired a new stake in shares of K2M Group Holdings during the first quarter worth $223,000. Finally, Paradigm Capital Management Inc. NY acquired a new stake in shares of K2M Group Holdings during the first quarter worth $226,000. 68.06% of the stock is owned by institutional investors.
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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