Schwab Charles Investment Management Inc. lifted its holdings in K2M Group Holdings Inc (NASDAQ:KTWO) by 5.4% in the 3rd quarter, HoldingsChannel reports. The fund owned 183,418 shares of the medical device company’s stock after buying an additional 9,348 shares during the period. Schwab Charles Investment Management Inc.’s holdings in K2M Group were worth $3,891,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of KTWO. Prudential Financial Inc. bought a new position in shares of K2M Group in the 2nd quarter worth about $6,595,000. State Street Corp raised its position in shares of K2M Group by 39.8% in the 2nd quarter. State Street Corp now owns 713,257 shares of the medical device company’s stock worth $17,378,000 after acquiring an additional 203,067 shares in the last quarter. Sectoral Asset Management Inc raised its position in shares of K2M Group by 22.9% in the 2nd quarter. Sectoral Asset Management Inc now owns 1,028,219 shares of the medical device company’s stock worth $25,047,000 after acquiring an additional 191,699 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of K2M Group by 83.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 380,637 shares of the medical device company’s stock worth $8,073,000 after acquiring an additional 172,650 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of K2M Group by 12.4% in the 2nd quarter. Vanguard Group Inc. now owns 1,550,592 shares of the medical device company’s stock worth $37,772,000 after acquiring an additional 171,502 shares in the last quarter. 97.95% of the stock is owned by hedge funds and other institutional investors.
Several research firms have recently weighed in on KTWO. BidaskClub raised K2M Group from a “hold” rating to a “buy” rating in a research report on Wednesday. Barclays reissued a “buy” rating and issued a $25.00 price objective on shares of K2M Group in a research report on Tuesday. William Blair restated an “outperform” rating on shares of K2M Group in a research note on Tuesday, October 10th. Needham & Company LLC raised their target price on K2M Group from $20.00 to $23.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Zacks Investment Research downgraded K2M Group from a “hold” rating to a “sell” rating in a research note on Tuesday. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and ten have given a buy rating to the stock. K2M Group presently has an average rating of “Buy” and a consensus target price of $24.50.
K2M Group (NASDAQ:KTWO) last released its quarterly earnings results on Wednesday, November 1st. The medical device company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.01). The company had revenue of $62.65 million for the quarter, compared to analyst estimates of $62.69 million. K2M Group had a negative net margin of 16.22% and a negative return on equity of 16.02%. K2M Group’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter last year, the firm posted ($0.19) EPS. equities research analysts expect that K2M Group Holdings Inc will post -0.85 earnings per share for the current fiscal year.
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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.
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