K2M Group Holdings, Inc. (KTWO) Given New $23.00 Price Target at Wells Fargo & Company

K2M Group Holdings, Inc. (NASDAQ:KTWO) had its price objective lowered by Wells Fargo & Company from $28.00 to $23.00 in a report published on Tuesday. Wells Fargo & Company currently has an outperform rating on the medical device company’s stock.

A number of other equities analysts have also weighed in on KTWO. Oppenheimer Holdings, Inc. reaffirmed a buy rating on shares of K2M Group Holdings in a research report on Thursday, June 22nd. JMP Securities reaffirmed an outperform rating and set a $30.00 target price (up from $27.00) on shares of K2M Group Holdings in a research report on Wednesday, June 28th. Cowen and Company reaffirmed a buy rating and set a $26.00 target price on shares of K2M Group Holdings in a research report on Wednesday, July 19th. BidaskClub raised K2M Group Holdings from a hold rating to a buy rating in a research report on Wednesday, July 19th. Finally, Royal Bank Of Canada reissued a buy rating and issued a $26.00 price target on shares of K2M Group Holdings in a research report on Thursday, July 20th. One analyst has rated the stock with a sell rating, one has issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. K2M Group Holdings presently has an average rating of Buy and an average price target of $25.60.

Shares of K2M Group Holdings (KTWO) traded up 1.805% during mid-day trading on Tuesday, hitting $18.335. 413,776 shares of the company were exchanged. K2M Group Holdings has a 12-month low of $16.32 and a 12-month high of $25.99. The firm has a 50 day moving average of $21.94 and a 200 day moving average of $22.52. The company’s market capitalization is $793.89 million.

K2M Group Holdings (NASDAQ:KTWO) last issued its earnings results on Tuesday, August 1st. The medical device company reported ($0.21) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.01. K2M Group Holdings had a negative return on equity of 15.45% and a negative net margin of 16.21%. The company had revenue of $65.70 million for the quarter, compared to analyst estimates of $66.26 million. During the same period in the prior year, the firm earned ($0.27) earnings per share. K2M Group Holdings’s revenue for the quarter was up 11.0% on a year-over-year basis. Equities research analysts forecast that K2M Group Holdings will post ($0.81) earnings per share for the current year.

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In other K2M Group Holdings news, insider John Philip Md Kostuik sold 1,332 shares of the company’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $23.30, for a total value of $31,035.60. Following the completion of the transaction, the insider now owns 200,629 shares in the company, valued at approximately $4,674,655.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Gregory S. Cole sold 39,357 shares of the company’s stock in a transaction on Friday, August 11th. The shares were sold at an average price of $23.37, for a total value of $919,773.09. The disclosure for this sale can be found here. Insiders sold a total of 44,129 shares of company stock valued at $1,033,644 in the last 90 days. Corporate insiders own 5.80% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. Legal & General Group Plc grew its stake in shares of K2M Group Holdings by 9.1% during the 1st quarter. Legal & General Group Plc now owns 6,763 shares of the medical device company’s stock worth $138,000 after acquiring an additional 564 shares during the period. Macquarie Group Ltd. grew its stake in shares of K2M Group Holdings by 0.3% during the 2nd quarter. Macquarie Group Ltd. now owns 200,656 shares of the medical device company’s stock worth $4,888,000 after acquiring an additional 581 shares during the period. Wells Fargo & Company MN grew its stake in shares of K2M Group Holdings by 0.9% during the 2nd quarter. Wells Fargo & Company MN now owns 63,322 shares of the medical device company’s stock worth $1,542,000 after acquiring an additional 590 shares during the period. American International Group Inc. grew its stake in shares of K2M Group Holdings by 7.1% during the 1st quarter. American International Group Inc. now owns 15,847 shares of the medical device company’s stock worth $325,000 after acquiring an additional 1,047 shares during the period. Finally, Teachers Advisors LLC grew its stake in shares of K2M Group Holdings by 3.0% during the 1st quarter. Teachers Advisors LLC now owns 43,823 shares of the medical device company’s stock worth $899,000 after acquiring an additional 1,286 shares during the period. Institutional investors own 97.86% of the company’s stock.

K2M Group Holdings Company Profile

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.

Analyst Recommendations for K2M Group Holdings (NASDAQ:KTWO)

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