K2M Group (NASDAQ:KTWO) Downgraded by BidaskClub

BidaskClub lowered shares of K2M Group (NASDAQ:KTWO) from a strong-buy rating to a buy rating in a report released on Friday, November 2nd.

A number of other equities research analysts also recently commented on the stock. ValuEngine upgraded shares of K2M Group from a buy rating to a strong-buy rating in a report on Monday, October 8th. Royal Bank of Canada downgraded shares of K2M Group from an outperform rating to a sector perform rating in a report on Monday, September 24th. Cowen downgraded shares of K2M Group from an outperform rating to a market perform rating and lowered their target price for the company from $28.00 to $27.50 in a report on Tuesday, September 4th. Cantor Fitzgerald downgraded shares of K2M Group from an overweight rating to a neutral rating and lowered their target price for the company from $28.00 to $27.50 in a report on Tuesday, September 4th. Finally, Oppenheimer downgraded shares of K2M Group from an outperform rating to a hold rating in a report on Friday, August 31st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $26.17.

KTWO traded up $0.56 during midday trading on Friday, reaching $27.50. 13,548,966 shares of the company’s stock were exchanged, compared to its average volume of 1,369,219. The company has a current ratio of 3.48, a quick ratio of 2.13 and a debt-to-equity ratio of 0.51. The stock has a market cap of $1.17 billion, a P/E ratio of -31.61 and a beta of 1.43. K2M Group has a 1-year low of $16.44 and a 1-year high of $27.50.

K2M Group (NASDAQ:KTWO) last issued its quarterly earnings results on Thursday, November 8th. The medical device company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.12). K2M Group had a negative return on equity of 16.27% and a negative net margin of 14.49%. As a group, analysts forecast that K2M Group will post -0.77 EPS for the current fiscal year.

In other news, CFO Gregory S. Cole sold 1,480 shares of the company’s stock in a transaction dated Thursday, August 16th. The shares were 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 in the company, valued at $1,318,432.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Gregory S. Cole sold 82,304 shares of the company’s stock in a transaction dated Thursday, August 30th. The stock was sold at an average price of $27.40, for a total transaction of $2,255,129.60. Following the transaction, the chief financial officer now owns 147,963 shares of the company’s stock, valued at approximately $4,054,186.20. The disclosure for this sale can be found here. Insiders have sold 84,479 shares of company stock worth $2,298,880 over the last three months. 6.00% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the stock. DekaBank Deutsche Girozentrale bought a new position in K2M Group in the 3rd quarter valued at about $115,000. Dorsey & Whitney Trust CO LLC purchased a new stake in K2M Group during the third quarter valued at about $202,000. First Republic Investment Management Inc. purchased a new stake in K2M Group during the second quarter valued at about $244,000. Renaissance Technologies LLC purchased a new stake in K2M Group during the second quarter valued at about $392,000. Finally, Los Angeles Capital Management & Equity Research Inc. purchased a new stake in K2M Group during the second quarter valued at about $405,000.

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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