Needham & Company LLC Raises K2M Group (KTWO) Price Target to $23.00

K2M Group (NASDAQ:KTWO) had its target price upped by equities researchers at Needham & Company LLC from $20.00 to $23.00 in a research report issued to clients and investors on Tuesday, January 9th, MarketBeat reports. The brokerage presently has a “buy” rating on the medical device company’s stock. Needham & Company LLC’s target price indicates a potential upside of 10.31% from the stock’s previous close.

A number of other equities research analysts have also recently weighed in on KTWO. Piper Jaffray Companies restated an “overweight” rating and set a $28.00 price objective on shares of K2M Group in a research note on Tuesday, October 10th. Oppenheimer set a $24.00 price objective on K2M Group and gave the stock a “buy” rating in a research note on Wednesday, October 18th. Royal Bank of Canada restated a “buy” rating and set a $26.00 price objective on shares of K2M Group in a research note on Friday, September 22nd. Zacks Investment Research upgraded K2M Group from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a research note on Wednesday, October 4th. Finally, Wells Fargo & Co decreased their price target on K2M Group from $28.00 to $23.00 and set an “outperform” rating for the company in a research note on Tuesday, October 10th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and ten have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $24.50.

Shares of K2M Group (NASDAQ KTWO) traded up $0.40 during trading on Tuesday, reaching $20.85. The company’s stock had a trading volume of 268,307 shares, compared to its average volume of 380,015. The company has a market cap of $896.47, a P/E ratio of -21.49 and a beta of 1.35. The company has a quick ratio of 1.67, a current ratio of 3.06 and a debt-to-equity ratio of 0.29. K2M Group has a 12 month low of $16.44 and a 12 month 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) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.19) by ($0.01). K2M Group had a negative net margin of 16.22% and a negative return on equity of 16.02%. The business had revenue of $62.65 million during the quarter, compared to the consensus estimate of $62.69 million. During the same period last year, the company earned ($0.19) EPS. The business’s revenue was up 5.6% compared to the same quarter last year. equities analysts anticipate that K2M Group will post -0.85 EPS for the current year.

Several hedge funds have recently made changes to their positions in KTWO. Cubist Systematic Strategies LLC increased its holdings in shares of 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 valued at $100,000 after purchasing an additional 4,659 shares during the period. Rockefeller Financial Services Inc. acquired a new position in shares of K2M Group in the third quarter valued at about $105,000. BNP Paribas Arbitrage SA increased its holdings in shares of K2M Group by 5,175.3% in the second quarter. BNP Paribas Arbitrage SA now owns 4,484 shares of the medical device company’s stock valued at $109,000 after purchasing an additional 4,399 shares during the period. Dorsey & Whitney Trust CO LLC acquired a new position in shares of K2M Group in the second quarter valued at about $211,000. Finally, Trexquant Investment LP acquired a new position in shares of K2M Group in the third quarter valued at about $223,000. 99.00% 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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