K2M Group (KTWO) Sees Strong Trading Volume

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K2M Group Holdings Inc (NASDAQ:KTWO) shares saw strong trading volume on Thursday . 13,548,967 shares were traded during mid-day trading, an increase of 2,034% from the previous session’s volume of 634,978 shares.The stock last traded at $27.50 and had previously closed at $26.94.

A number of analysts have issued reports on the company. JMP Securities lowered K2M Group from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 30th. BidaskClub lowered K2M Group from a “buy” rating to a “hold” rating in a research note on Thursday. Cantor Fitzgerald reissued a “buy” rating and issued a $28.00 price target on shares of K2M Group in a research note on Thursday, August 30th. Royal Bank of Canada lowered K2M Group from an “outperform” rating to a “sector perform” rating in a research note on Monday, September 24th. Finally, Oppenheimer set a $25.00 price target on K2M Group and gave the stock a “buy” rating in a research note on Thursday, August 2nd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. K2M Group currently has an average rating of “Hold” and an average price target of $26.17.

The firm has a market capitalization of $1.17 billion, a P/E ratio of -31.61 and a beta of 1.43. 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 (NASDAQ:KTWO) last released its quarterly earnings data 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%. On average, analysts forecast that K2M Group Holdings Inc will post -0.77 EPS for the current year.

In other news, CFO Gregory S. Cole sold 1,480 shares of the firm’s 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 transaction, the chief financial officer now directly owns 65,659 shares in the company, valued at approximately $1,318,432.72. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Gregory S. Cole sold 82,304 shares of the firm’s 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 transaction, the chief financial officer now owns 147,963 shares in the company, valued at $4,054,186.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 84,479 shares of company stock worth $2,298,880. Company insiders own 6.00% of the company’s stock.

Several large investors have recently made changes to their positions in the stock. Alpine Associates Management Inc. purchased a new stake in shares of K2M Group during the 3rd quarter valued at about $18,043,000. Broadview Advisors LLC raised its holdings in shares of K2M Group by 1.4% during the 3rd quarter. Broadview Advisors LLC now owns 504,915 shares of the medical device company’s stock valued at $13,820,000 after buying an additional 6,950 shares during the period. DekaBank Deutsche Girozentrale purchased a new stake in shares of K2M Group during the 3rd quarter valued at about $115,000. Nuance Investments LLC purchased a new stake in shares of K2M Group during the 3rd quarter valued at about $33,570,000. Finally, FIL Ltd purchased a new stake in shares of K2M Group during the 3rd quarter valued at about $47,473,000.

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K2M Group Company Profile (NASDAQ:KTWO)

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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