Published On: Tue, Sep 13th, 2016

K2M Group Holdings Inc. (KTWO) Given “Outperform” Rating at Oppenheimer Holdings Inc.

K2M Group Holdings Inc. (NASDAQ:KTWO)‘s stock had its “outperform” rating reissued by investment analysts at Oppenheimer Holdings Inc. in a research note issued on Tuesday. They currently have a $23.00 target price on the medical device company’s stock. Oppenheimer Holdings Inc.’s price objective would indicate a potential upside of 36.99% from the stock’s current price.
A number of other research firms have also recently issued reports on KTWO. Needham & Company LLC restated a “strong-buy” rating and set a $22.00 price target (up from $21.00) on shares of K2M Group Holdings in a report on Friday, August 5th. Barclays PLC increased their target price on shares of K2M Group Holdings from $20.00 to $22.00 and gave the company an “overweight” rating in a research note on Thursday, August 4th. Zacks Investment Research upgraded shares of K2M Group Holdings from a “sell” rating to a “hold” rating in a research note on Tuesday, August 9th. Wells Fargo & Co. reiterated a “buy” rating on shares of K2M Group Holdings in a research note on Sunday. Finally, JMP Securities reiterated a “buy” rating and issued a $22.00 target price on shares of K2M Group Holdings in a research note on Sunday, June 5th. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $22.20.
Shares of K2M Group Holdings (NASDAQ:KTWO) traded down 1.61% during trading on Tuesday, hitting $16.52. The stock had a trading volume of 53,879 shares. K2M Group Holdings has a one year low of $10.10 and a one year high of $23.00. The stock’s market cap is $696.24 million. The stock’s 50-day moving average price is $16.59 and its 200 day moving average price is $14.87.

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K2M Group Holdings (NASDAQ:KTWO) last released its quarterly earnings results on Wednesday, August 3rd. The medical device company reported ($0.27) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.28) by $0.01. K2M Group Holdings had a negative net margin of 17.79% and a negative return on equity of 12.90%. The company earned $59.20 million during the quarter, compared to analysts’ expectations of $57.47 million. During the same period in the prior year, the company earned ($0.16) earnings per share. The business’s quarterly revenue was up 5.0% compared to the same quarter last year. On average, equities analysts forecast that K2M Group Holdings will post ($1.10) EPS for the current year.
Hedge funds have recently bought and sold shares of the company. Waddell & Reed Financial Inc. raised its stake in K2M Group Holdings by 92.6% in the second quarter. Waddell & Reed Financial Inc. now owns 1,595,114 shares of the medical device company’s stock valued at $24,756,000 after buying an additional 766,909 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of K2M Group Holdings by 44.5% in the first quarter. Wellington Management Group LLP now owns 2,110,822 shares of the medical device company’s stock worth $31,303,000 after buying an additional 649,694 shares in the last quarter. Senzar Asset Management LLC bought a new stake in shares of K2M Group Holdings during the second quarter worth $5,530,000. Ghost Tree Capital LLC bought a new stake in shares of K2M Group Holdings during the second quarter worth $5,432,000. Finally, Columbia Partners L L C Investment Management bought a new stake in shares of K2M Group Holdings during the second quarter worth $5,093,000. 62.37% 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 technologies and techniques. The Company’s spine products are used by spine surgeons to treat spinal pathologies, such as deformity (primarily scoliosis), trauma and tumor. The Company is engaged in designing, development and commercialization of products for patients suffering from degenerative spinal conditions.

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