$71.50 Million in Sales Expected for K2M Group Holdings Inc (KTWO) This Quarter

Brokerages predict that K2M Group Holdings Inc (NASDAQ:KTWO) will announce sales of $71.50 million for the current fiscal quarter, according to Zacks. Two analysts have made estimates for K2M Group’s earnings, with estimates ranging from $71.10 million to $71.90 million. K2M Group posted sales of $62.65 million during the same quarter last year, which suggests a positive year-over-year growth rate of 14.1%. The firm is expected to report its next quarterly earnings results on Wednesday, November 7th.

According to Zacks, analysts expect that K2M Group will report full-year sales of $289.05 million for the current financial year, with estimates ranging from $289.00 million to $289.10 million. For the next year, analysts anticipate that the business will post sales of $318.60 million per share, with estimates ranging from $317.80 million to $319.40 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for K2M Group.

K2M Group (NASDAQ:KTWO) last announced its quarterly earnings data on Wednesday, August 1st. The medical device company reported ($0.25) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.19) by ($0.06). K2M Group had a negative return on equity of 16.27% and a negative net margin of 14.49%. The business had revenue of $73.58 million for the quarter, compared to analyst estimates of $70.85 million. During the same period in the prior year, the company earned ($0.21) EPS. The company’s revenue was up 12.0% on a year-over-year basis.

A number of brokerages recently weighed in on KTWO. Royal Bank of Canada lowered K2M Group from an “outperform” rating to a “sector perform” rating in a report on Monday. BidaskClub lowered K2M Group from a “buy” rating to a “hold” rating in a report on Saturday. Cowen lowered K2M Group from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $28.00 to $27.50 in a report on Tuesday, September 4th. Cantor Fitzgerald lowered K2M Group from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $28.00 to $27.50 in a report on Tuesday, September 4th. Finally, Oppenheimer lowered K2M Group from an “outperform” rating to a “hold” rating in a report on Friday, August 31st. One research analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company. K2M Group presently has an average rating of “Hold” and an average price target of $25.90.

KTWO stock traded up $0.01 on Friday, reaching $27.30. 113,156 shares of the company’s stock were exchanged, compared to its average volume of 1,878,113. K2M Group has a twelve month low of $16.44 and a twelve month high of $27.50. The firm has a market capitalization of $1.19 billion, a PE ratio of -31.37 and a beta of 1.60. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.48 and a quick ratio of 2.13.

In other K2M Group news, CFO Gregory S. Cole sold 82,304 shares of the company’s stock in a transaction on Thursday, August 30th. The stock was sold at an average price of $27.40, for a total value of $2,255,129.60. Following the sale, the chief financial officer now owns 147,963 shares of the company’s stock, valued at $4,054,186.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Gregory S. Cole sold 1,480 shares of the company’s stock in a transaction on Thursday, August 16th. The shares were sold at an average price of $20.08, for a total value of $29,718.40. Following the completion of the sale, the chief financial officer now directly owns 65,659 shares in the company, valued at approximately $1,318,432.72. The disclosure for this sale can be found here. Insiders have sold 85,346 shares of company stock worth $2,318,362 in the last ninety days. 6.00% of the stock is currently owned by corporate insiders.

Institutional investors have recently bought and sold shares of the business. Engineers Gate Manager LP acquired a new stake in K2M Group in the first quarter valued at $190,000. First Republic Investment Management Inc. acquired a new stake in K2M Group in the second quarter valued at $244,000. Natixis Advisors L.P. acquired a new stake in K2M Group in the first quarter valued at $229,000. Renaissance Technologies LLC acquired a new stake in K2M Group in the second quarter valued at $392,000. Finally, Los Angeles Capital Management & Equity Research Inc. acquired a new stake in K2M Group in the second quarter valued at $405,000.

About K2M Group

K2M Group Holdings, Inc, a medical device company, provides spine and minimally invasive solutions in the United States and internationally. The company offers implants, disposables, and instruments primarily to hospitals for use by spine surgeons to treat spinal pathologies, such as deformity, trauma, and tumor.

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Earnings History and Estimates for K2M Group (NASDAQ:KTWO)

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