ValuEngine Upgrades K2M Group (KTWO) to Strong-Buy

K2M Group (NASDAQ:KTWO) was upgraded by research analysts at ValuEngine from a “buy” rating to a “strong-buy” rating in a research report issued on Monday.

KTWO has been the subject of a number of other reports. Cowen cut K2M Group from an “outperform” rating to a “market perform” rating and cut their price target for the company from $28.00 to $27.50 in a report on Tuesday, September 4th. Zacks Investment Research cut K2M Group from a “hold” rating to a “sell” rating in a report on Wednesday, July 4th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $28.00 price target on shares of K2M Group in a report on Thursday, August 30th. Needham & Company LLC lifted their price target on K2M Group from $23.00 to $29.00 and gave the company a “buy” rating in a report on Thursday, August 2nd. Finally, JMP Securities cut K2M Group from an “outperform” rating to a “market perform” rating in a report on Thursday, August 30th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. K2M Group has a consensus rating of “Hold” and an average price target of $26.00.

Shares of K2M Group stock traded up $0.02 during trading on Monday, reaching $27.40. The company’s stock had a trading volume of 642,900 shares, compared to its average volume of 492,907. 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. The stock has a market capitalization of $1.19 billion, a price-to-earnings ratio of -31.49 and a beta of 1.61.

K2M Group (NASDAQ:KTWO) last released its quarterly earnings results on Wednesday, August 1st. The medical device company reported ($0.25) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.19) by ($0.06). K2M Group had a negative net margin of 14.49% and a negative return on equity of 16.27%. The business had revenue of $73.58 million during the quarter, compared to the consensus estimate of $70.85 million. During the same period in the prior year, the firm earned ($0.21) earnings per share. The business’s quarterly revenue was up 12.0% compared to the same quarter last year. As a group, sell-side 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 dated Thursday, August 16th. The stock was sold at an average price of $20.08, for a total value of $29,718.40. Following the completion of the sale, the chief financial officer now directly owns 65,659 shares in the company, valued at $1,318,432.72. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Gregory S. Cole sold 82,304 shares of K2M Group stock in a transaction dated 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 completion of the sale, the chief financial officer now owns 147,963 shares of the company’s stock, valued at $4,054,186.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 84,479 shares of company stock valued at $2,298,880. Corporate insiders own 6.00% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Natixis Advisors L.P. acquired a new stake in K2M Group in the first quarter worth about $229,000. First Republic Investment Management Inc. acquired a new position in shares of K2M Group during the 2nd quarter worth about $244,000. Renaissance Technologies LLC acquired a new position in shares of K2M Group during the 2nd quarter worth about $392,000. Los Angeles Capital Management & Equity Research Inc. acquired a new position in shares of K2M Group during the 2nd quarter worth about $405,000. Finally, A.R.T. Advisors LLC acquired a new position in shares of K2M Group during the 1st quarter worth about $849,000.

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.

Further Reading: Book Value Per Share – BVPS

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for K2M Group (NASDAQ:KTWO)

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