K2M Group (KTWO) Given New $23.00 Price Target at Needham & Company LLC

K2M Group (NASDAQ:KTWO) had its price target lifted by Needham & Company LLC from $20.00 to $23.00 in a report published on Tuesday morning, Marketbeat.com reports. They currently have a buy rating on the medical device company’s stock.

Several other analysts have also weighed in on KTWO. Royal Bank of Canada reissued a buy rating and set a $26.00 price objective on shares of K2M Group in a report on Friday, September 22nd. Piper Jaffray Companies reissued a buy rating and set a $28.00 price objective on shares of K2M Group in a report on Thursday, September 28th. Zacks Investment Research raised K2M Group from a hold rating to a buy rating and set a $25.00 price objective on the stock in a report on Wednesday, October 4th. ValuEngine lowered K2M Group from a hold rating to a sell rating in a report on Tuesday, October 10th. Finally, UBS Group reissued a buy rating and set a $24.00 price objective (down previously from $26.00) on shares of K2M Group in a report on Tuesday, October 10th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and ten have assigned a buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of $24.50.

K2M Group (NASDAQ KTWO) opened at $20.25 on Tuesday. The company has a quick ratio of 1.67, a current ratio of 3.06 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $877.40, a P/E ratio of -21.09 and a beta of 1.34. K2M Group has a 1 year low of $16.44 and a 1 year high of $25.99.

K2M Group (NASDAQ:KTWO) last announced its quarterly earnings data on Wednesday, November 1st. The medical device company reported ($0.20) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.19) by ($0.01). K2M Group had a negative return on equity of 16.02% and a negative net margin of 16.22%. The firm had revenue of $62.65 million for the quarter, compared to analyst estimates of $62.69 million. During the same period in the previous year, the business posted ($0.19) EPS. K2M Group’s revenue for the quarter was up 5.6% compared to the same quarter last year. equities analysts anticipate that K2M Group will post -0.85 earnings per share for the current year.

A number of hedge funds have recently made changes to their positions in the stock. Sterling Capital Management LLC boosted its stake in K2M Group by 20.5% in the third quarter. Sterling Capital Management LLC now owns 123,493 shares of the medical device company’s stock worth $2,620,000 after purchasing an additional 20,986 shares in the last quarter. Cubist Systematic Strategies LLC boosted its stake in K2M Group by 7,765.0% in the third quarter. Cubist Systematic Strategies LLC now owns 4,719 shares of the medical device company’s stock worth $100,000 after purchasing an additional 4,659 shares in the last quarter. Oppenheimer Asset Management Inc. acquired a new position in K2M Group in the third quarter worth $347,000. Envestnet Asset Management Inc. acquired a new position in K2M Group in the third quarter worth $423,000. Finally, Elk Creek Partners LLC acquired a new position in K2M Group in the third quarter worth $7,836,000. 97.95% of the stock is currently owned by institutional investors and hedge funds.

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K2M Group 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 (NASDAQ:KTWO)

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