K2M Group Holdings Inc (KTWO) Shares Bought by Millennium Management LLC

Millennium Management LLC raised its stake in shares of K2M Group Holdings Inc (NASDAQ:KTWO) by 436.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,069 shares of the medical device company’s stock after buying an additional 43,989 shares during the quarter. Millennium Management LLC owned about 0.12% of K2M Group worth $1,217,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. grew its holdings in shares of K2M Group by 6.4% in the second quarter. BlackRock Inc. now owns 3,044,631 shares of the medical device company’s stock valued at $68,503,000 after purchasing an additional 183,859 shares in the last quarter. Penn Capital Management Co. Inc. grew its holdings in shares of K2M Group by 32.7% in the second quarter. Penn Capital Management Co. Inc. now owns 733,489 shares of the medical device company’s stock valued at $16,521,000 after purchasing an additional 180,589 shares in the last quarter. Point72 Asset Management L.P. grew its holdings in shares of K2M Group by 36.9% in the second quarter. Point72 Asset Management L.P. now owns 647,000 shares of the medical device company’s stock valued at $14,558,000 after purchasing an additional 174,300 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in shares of K2M Group by 227.7% in the second quarter. Russell Investments Group Ltd. now owns 197,944 shares of the medical device company’s stock valued at $4,454,000 after purchasing an additional 137,547 shares in the last quarter. Finally, Gamco Investors INC. ET AL grew its holdings in shares of K2M Group by 39.6% in the second quarter. Gamco Investors INC. ET AL now owns 343,056 shares of the medical device company’s stock valued at $7,719,000 after purchasing an additional 97,306 shares in the last quarter.

KTWO has been the subject of a number of recent research reports. Royal Bank of Canada lowered shares of K2M Group from an “outperform” rating to a “sector perform” rating in a report on Monday, September 24th. ValuEngine raised shares of K2M Group from a “buy” rating to a “strong-buy” rating in a report on Monday, October 8th. Oppenheimer set a $25.00 target price on shares of K2M Group and gave the company a “buy” rating in a report on Thursday, August 2nd. BidaskClub lowered shares of K2M Group from a “strong-buy” rating to a “buy” rating in a report on Friday, July 27th. Finally, Needham & Company LLC lowered shares of K2M Group from a “buy” rating to a “hold” rating in a report on Thursday, August 30th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $26.43.

In related news, CFO Gregory S. Cole sold 82,304 shares of the firm’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 completion of the sale, the chief financial officer now directly owns 147,963 shares in the company, valued at $4,054,186.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Gregory S. Cole sold 1,480 shares of the firm’s stock in a transaction on Thursday, August 16th. The stock was 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 owns 65,659 shares of the company’s stock, valued at $1,318,432.72. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 84,479 shares of company stock valued at $2,298,880. 6.00% of the stock is owned by corporate insiders.

Shares of KTWO opened at $26.72 on Friday. The firm has a market capitalization of $1.19 billion, a P/E ratio of -30.71 and a beta of 1.61. K2M Group Holdings Inc has a 52-week low of $16.44 and a 52-week high of $27.50. The company has a quick ratio of 2.13, a current ratio of 3.48 and a debt-to-equity ratio of 0.51.

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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Institutional Ownership by Quarter for K2M Group (NASDAQ:KTWO)

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