Geode Capital Management LLC Has $5.65 Million Stake in K2M Group Holdings, Inc. (KTWO)

Geode Capital Management LLC increased its stake in K2M Group Holdings, Inc. (NASDAQ:KTWO) by 10.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 275,498 shares of the medical device company’s stock after buying an additional 26,578 shares during the period. Geode Capital Management LLC owned about 0.65% of K2M Group Holdings worth $5,650,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of KTWO. Legal & General Group Plc increased its stake in shares of K2M Group Holdings by 9.1% in the first quarter. Legal & General Group Plc now owns 6,763 shares of the medical device company’s stock worth $138,000 after buying an additional 564 shares during the last quarter. Simplex Trading LLC acquired a new stake in shares of K2M Group Holdings during the first quarter worth about $187,000. Parkwood LLC acquired a new stake in shares of K2M Group Holdings during the first quarter worth about $223,000. Paradigm Capital Management Inc. NY acquired a new stake in shares of K2M Group Holdings during the first quarter worth about $226,000. Finally, Trexquant Investment LP acquired a new stake in shares of K2M Group Holdings during the first quarter worth about $250,000. Institutional investors and hedge funds own 96.79% of the company’s stock.

K2M Group Holdings, Inc. (KTWO) traded up 0.09% during trading on Friday, reaching $23.33. The company’s stock had a trading volume of 51,602 shares. The company’s 50-day moving average is $24.00 and its 200-day moving average is $21.91. The company’s market capitalization is $1.01 billion. K2M Group Holdings, Inc. has a 1-year low of $15.45 and a 1-year high of $25.99.

K2M Group Holdings (NASDAQ:KTWO) last announced its quarterly earnings results on Tuesday, August 1st. The medical device company reported ($0.21) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.22) by $0.01. The company had revenue of $65.70 million during the quarter, compared to analyst estimates of $66.26 million. K2M Group Holdings had a negative return on equity of 15.45% and a negative net margin of 16.21%. The firm’s revenue was up 11.0% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.27) earnings per share. Equities analysts anticipate that K2M Group Holdings, Inc. will post ($0.78) EPS for the current year.

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KTWO has been the subject of a number of recent analyst reports. Barclays PLC raised their price objective on K2M Group Holdings from $26.00 to $27.00 and gave the stock an “overweight” rating in a research report on Monday, April 24th. Royal Bank Of Canada reissued a “buy” rating on shares of K2M Group Holdings in a research report on Wednesday, May 3rd. Oppenheimer Holdings, Inc. set a $26.00 price objective on K2M Group Holdings and gave the stock a “buy” rating in a research report on Wednesday, May 3rd. TheStreet raised K2M Group Holdings from a “d+” rating to a “c” rating in a research report on Monday, May 8th. Finally, JMP Securities reissued an “outperform” rating and set a $30.00 price objective (up from $27.00) on shares of K2M Group Holdings in a research report on Wednesday, June 28th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $26.25.

In other K2M Group Holdings news, insider John Philip Md Kostuik sold 50,000 shares of the company’s stock in a transaction dated Thursday, May 25th. The stock was sold at an average price of $22.70, for a total transaction of $1,135,000.00. Following the completion of the sale, the insider now directly owns 199,107 shares in the company, valued at $4,519,728.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Gregory S. Cole sold 42,947 shares of the company’s stock in a transaction dated Friday, June 16th. The stock was sold at an average price of $22.80, for a total value of $979,191.60. Following the sale, the chief financial officer now owns 87,425 shares of the company’s stock, valued at $1,993,290. The disclosure for this sale can be found here. Insiders have sold 93,903 shares of company stock valued at $2,137,451 over the last 90 days. 5.80% of the stock is currently owned by insiders.

K2M Group Holdings 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.

Institutional Ownership by Quarter for K2M Group Holdings (NASDAQ:KTWO)

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