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.
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.
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