Peregrine Capital Management LLC Has $18.73 Million Stake in K2M Group Holdings, Inc. (KTWO)

Peregrine Capital Management LLC reduced its position in K2M Group Holdings, Inc. (NASDAQ:KTWO) by 6.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 883,144 shares of the medical device company’s stock after selling 65,022 shares during the period. Peregrine Capital Management LLC owned about 2.04% of K2M Group Holdings worth $18,731,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in KTWO. Bank of New York Mellon Corp increased its position in shares of K2M Group Holdings by 4.6% in the first quarter. Bank of New York Mellon Corp now owns 211,112 shares of the medical device company’s stock worth $4,329,000 after acquiring an additional 9,331 shares in the last quarter. Swiss National Bank increased its position in shares of K2M Group Holdings by 12.5% in the first quarter. Swiss National Bank now owns 55,700 shares of the medical device company’s stock worth $1,142,000 after acquiring an additional 6,200 shares in the last quarter. American International Group Inc. increased its position in shares of K2M Group Holdings by 7.1% in the first quarter. American International Group Inc. now owns 15,847 shares of the medical device company’s stock worth $325,000 after acquiring an additional 1,047 shares in the last quarter. Alliancebernstein L.P. increased its position in shares of K2M Group Holdings by 31.8% in the first quarter. Alliancebernstein L.P. now owns 35,190 shares of the medical device company’s stock worth $722,000 after acquiring an additional 8,500 shares in the last quarter. Finally, Teachers Advisors LLC increased its position in shares of K2M Group Holdings by 3.0% in the first quarter. Teachers Advisors LLC now owns 43,823 shares of the medical device company’s stock worth $899,000 after acquiring an additional 1,286 shares in the last quarter. 99.13% of the stock is currently owned by institutional investors and hedge funds.

Shares of K2M Group Holdings, Inc. (NASDAQ KTWO) traded up 1.34% on Tuesday, reaching $19.63. 39,738 shares of the company were exchanged. The stock’s market capitalization is $849.35 million. K2M Group Holdings, Inc. has a 12 month low of $16.32 and a 12 month high of $25.99. The stock has a 50 day moving average price of $20.61 and a 200-day moving average price of $22.43.

K2M Group Holdings (NASDAQ:KTWO) last posted its earnings results on Tuesday, August 1st. The medical device company reported ($0.21) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.01. K2M Group Holdings had a negative return on equity of 15.45% and a negative net margin of 16.21%. The business had revenue of $65.70 million during the quarter, compared to analysts’ expectations of $66.26 million. During the same period in the prior year, the business earned ($0.27) EPS. K2M Group Holdings’s revenue for the quarter was up 11.0% compared to the same quarter last year. On average, equities analysts expect that K2M Group Holdings, Inc. will post ($0.84) EPS for the current fiscal year.

Several research firms have recently weighed in on KTWO. Cowen and Company set a $28.00 target price on shares of K2M Group Holdings and gave the stock a “buy” rating in a research report on Thursday, August 17th. Needham & Company LLC reissued a “buy” rating and issued a $27.00 target price on shares of K2M Group Holdings in a research report on Friday, October 20th. William Blair reissued an “outperform” rating on shares of K2M Group Holdings in a research report on Tuesday, October 10th. Oppenheimer Holdings, Inc. set a $29.00 target price on shares of K2M Group Holdings and gave the stock a “buy” rating in a research report on Wednesday, August 2nd. Finally, BidaskClub downgraded shares of K2M Group Holdings from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $25.10.

In related news, insider John Philip Md Kostuik sold 1,332 shares of the stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $23.30, for a total transaction of $31,035.60. Following the completion of the sale, the insider now directly owns 200,629 shares of the company’s stock, valued at approximately $4,674,655.70. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Gregory S. Cole sold 2,350 shares of the stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $24.08, for a total value of $56,588.00. Following the sale, the chief financial officer now directly owns 55,158 shares of the company’s stock, valued at $1,328,204.64. The disclosure for this sale can be found here. Over the last three months, insiders have sold 44,129 shares of company stock valued at $1,033,644. 5.80% of the stock is owned by company insiders.

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About K2M Group Holdings

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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