BidaskClub Lowers K2M Group (KTWO) to Buy

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BidaskClub lowered shares of K2M Group (NASDAQ:KTWO) from a strong-buy rating to a buy rating in a report published on Friday morning.

Other research analysts have also recently issued research reports about the stock. ValuEngine upgraded shares of K2M Group from a hold rating to a buy rating in a research note on Thursday, August 30th. Cantor Fitzgerald reiterated a buy rating and issued a $28.00 target price on shares of K2M Group in a research note on Thursday, August 30th. Oppenheimer set a $25.00 target price on shares of K2M Group and gave the company a buy rating in a research note on Thursday, August 2nd. Needham & Company LLC lifted their target price on shares of K2M Group from $23.00 to $29.00 and gave the company a buy rating in a research note on Thursday, August 2nd. Finally, Cowen cut shares of K2M Group from an outperform rating to a market perform rating and cut their target price for the company from $28.00 to $27.50 in a research note on Tuesday, September 4th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of Hold and a consensus price target of $26.17.

KTWO traded down $0.12 during midday trading on Friday, reaching $26.60. 83,221 shares of the company’s stock were exchanged, compared to its average volume of 1,222,313. The stock has a market cap of $1.16 billion, a price-to-earnings ratio of -30.67 and a beta of 1.43. The company has a quick ratio of 2.13, a current ratio of 3.48 and a debt-to-equity ratio of 0.51. K2M Group has a one year low of $16.44 and a one year high of $27.50.

In related news, CFO Gregory S. Cole sold 82,304 shares of the business’s stock in a transaction that occurred on Thursday, August 30th. The shares were sold at an average price of $27.40, for a total value of $2,255,129.60. Following the completion of the transaction, the chief financial officer now owns 147,963 shares in the company, valued at approximately $4,054,186.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Gregory S. Cole sold 1,480 shares of the business’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 65,659 shares of the company’s stock, valued at approximately $1,318,432.72. The disclosure for this sale can be found here. Insiders sold a total of 84,479 shares of company stock valued at $2,298,880 in the last 90 days. 6.00% of the stock is currently owned by corporate insiders.

Hedge funds have recently bought and sold shares of the stock. Northern Trust Corp grew its holdings in K2M Group by 0.5% during the 1st quarter. Northern Trust Corp now owns 549,513 shares of the medical device company’s stock worth $10,413,000 after acquiring an additional 2,756 shares during the period. BlackRock Inc. grew its holdings in K2M Group by 2.4% during the 1st quarter. BlackRock Inc. now owns 2,860,772 shares of the medical device company’s stock worth $54,213,000 after acquiring an additional 66,352 shares during the period. Suntrust Banks Inc. grew its holdings in K2M Group by 5.1% during the 1st quarter. Suntrust Banks Inc. now owns 64,608 shares of the medical device company’s stock worth $1,223,000 after acquiring an additional 3,126 shares during the period. Sit Investment Associates Inc. grew its holdings in K2M Group by 18.1% during the 2nd quarter. Sit Investment Associates Inc. now owns 92,700 shares of the medical device company’s stock worth $2,086,000 after acquiring an additional 14,200 shares during the period. Finally, Toth Financial Advisory Corp grew its holdings in K2M Group by 80.1% during the 2nd quarter. Toth Financial Advisory Corp now owns 40,470 shares of the medical device company’s stock worth $911,000 after acquiring an additional 18,000 shares during the period.

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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