K2M Group (KTWO) Downgraded by Cowen to Market Perform

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Cowen lowered shares of K2M Group (NASDAQ:KTWO) from an outperform rating to a market perform rating in a report released on Tuesday morning, Marketbeat.com reports. They currently have $27.50 target price on the medical device company’s stock, down from their previous target price of $28.00.

A number of other research firms also recently weighed in on KTWO. ValuEngine upgraded K2M Group from a hold rating to a buy rating in a research report on Thursday, August 30th. Oppenheimer downgraded K2M Group from an outperform rating to a hold rating in a research report on Friday, August 31st. JMP Securities downgraded K2M Group from an outperform rating to a market perform rating in a research report on Thursday, August 30th. Needham & Company LLC downgraded K2M Group from a buy rating to a hold rating in a research report on Thursday, August 30th. Finally, Cantor Fitzgerald restated a buy rating and set a $28.00 target price on shares of K2M Group in a research report on Thursday, August 30th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company’s stock. K2M Group currently has an average rating of Hold and an average target price of $25.91.

Shares of KTWO opened at $27.29 on Tuesday. The company has a current ratio of 3.48, a quick ratio of 2.13 and a debt-to-equity ratio of 0.51. K2M Group has a 52-week low of $16.44 and a 52-week high of $27.50.

K2M Group (NASDAQ:KTWO) last released its earnings results on Wednesday, August 1st. The medical device company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.06). The firm had revenue of $73.58 million for the quarter, compared to the consensus estimate of $70.85 million. K2M Group had a negative return on equity of 16.27% and a negative net margin of 14.49%. The company’s revenue was up 12.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.21) EPS. equities research analysts anticipate that K2M Group will post -0.77 EPS for the current year.

In related news, CFO Gregory S. Cole sold 1,480 shares of K2M Group stock in a transaction on Thursday, August 16th. The stock was sold at an average price of $20.08, for a total transaction of $29,718.40. Following the completion of the sale, the chief financial officer now directly owns 65,659 shares of the company’s stock, valued at $1,318,432.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Gregory S. Cole sold 82,304 shares of K2M Group 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 directly owns 147,963 shares of the company’s stock, valued at $4,054,186.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 85,346 shares of company stock valued at $2,318,362. 6.00% of the stock is currently owned by corporate insiders.

Several institutional investors have recently made changes to their positions in KTWO. Hennessy Advisors Inc. acquired a new stake in shares of K2M Group during the first quarter worth $584,000. Suffolk Capital Management LLC grew its stake in shares of K2M Group by 22.0% during the first quarter. Suffolk Capital Management LLC now owns 40,290 shares of the medical device company’s stock worth $763,000 after purchasing an additional 7,257 shares during the period. Schwab Charles Investment Management Inc. grew its stake in shares of K2M Group by 3.0% during the first quarter. Schwab Charles Investment Management Inc. now owns 202,289 shares of the medical device company’s stock worth $3,834,000 after purchasing an additional 5,864 shares during the period. Engineers Gate Manager LP acquired a new stake in shares of K2M Group during the first quarter worth $190,000. Finally, GW&K Investment Management LLC grew its stake in shares of K2M Group by 9.8% during the first quarter. GW&K Investment Management LLC now owns 531,562 shares of the medical device company’s stock worth $10,073,000 after purchasing an additional 47,343 shares during the period. 99.58% of the stock is owned by institutional investors and hedge funds.

K2M Group Company Profile

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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Analyst Recommendations for K2M Group (NASDAQ:KTWO)

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