K2M Group (KTWO) Cut to Market Perform at Wells Fargo & Company

Wells Fargo & Company lowered shares of K2M Group (NASDAQ:KTWO) from an outperform rating to a market perform rating in a research report sent to investors on Monday morning, MarketBeat.com reports. The brokerage currently has $23.00 price objective on the medical device company’s stock.

KTWO has been the topic of several other reports. Zacks Investment Research raised shares of K2M Group from a hold rating to a buy rating and set a $25.00 target price on the stock in a research note on Wednesday, October 4th. Needham & Company LLC lowered their target price on shares of K2M Group from $27.00 to $26.00 and set a strong-buy rating on the stock in a research note on Thursday, November 2nd. Oppenheimer reissued a buy rating and set a $24.00 target price on shares of K2M Group in a research note on Friday, November 10th. Cowen reissued an outperform rating and set a $22.00 target price (down from $28.00) on shares of K2M Group in a research note on Tuesday, October 10th. Finally, Royal Bank Of Canada reissued a buy rating and set a $26.00 target price on shares of K2M Group in a research note on Friday, September 22nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. K2M Group has an average rating of Buy and an average target price of $25.00.

K2M Group (NASDAQ:KTWO) traded down $0.51 during mid-day trading on Monday, hitting $17.31. 413,900 shares of the stock traded hands, compared to its average volume of 408,913. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.67 and a current ratio of 3.06. K2M Group has a twelve month low of $17.09 and a twelve month high of $25.99.

K2M Group (NASDAQ:KTWO) last posted its earnings results on Wednesday, November 1st. The medical device company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.01). K2M Group had a negative return on equity of 16.02% and a negative net margin of 16.22%. The firm had revenue of $62.65 million for the quarter, compared to analysts’ expectations of $62.69 million. During the same period in the previous year, the company earned ($0.19) earnings per share. The company’s revenue was up 5.6% compared to the same quarter last year. sell-side analysts forecast that K2M Group will post -0.86 earnings per share for the current fiscal year.

A number of institutional investors have recently modified their holdings of the stock. Sterling Capital Management LLC lifted its stake in K2M Group by 20.5% in the 3rd quarter. Sterling Capital Management LLC now owns 123,493 shares of the medical device company’s stock valued at $2,620,000 after buying an additional 20,986 shares in the last quarter. Cubist Systematic Strategies LLC lifted its stake in K2M Group by 7,765.0% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 4,719 shares of the medical device company’s stock valued at $100,000 after buying an additional 4,659 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new position in K2M Group in the 3rd quarter valued at about $347,000. Envestnet Asset Management Inc. purchased a new position in K2M Group in the 3rd quarter valued at about $423,000. Finally, Elk Creek Partners LLC purchased a new position in K2M Group in the 3rd quarter valued at about $7,836,000. 99.16% of the stock is currently owned by hedge funds and other institutional investors.

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About K2M Group

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.

Analyst Recommendations for K2M Group (NASDAQ:KTWO)

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