Zacks: Brokerages Anticipate K2M Group Holdings, Inc. (KTWO) Will Post Quarterly Sales of $65.57 Million

Brokerages predict that K2M Group Holdings, Inc. (NASDAQ:KTWO) will report $65.57 million in sales for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for K2M Group Holdings’ earnings, with estimates ranging from $65.30 million to $66.00 million. K2M Group Holdings posted sales of $61.79 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 6.1%. The business is expected to announce its next earnings results on Monday, March 5th.

On average, analysts expect that K2M Group Holdings will report full year sales of $65.57 million for the current year, with estimates ranging from $255.60 million to $265.50 million. For the next fiscal year, analysts anticipate that the business will report sales of $283.38 million per share, with estimates ranging from $281.60 million to $286.20 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow K2M Group Holdings.

K2M Group Holdings (NASDAQ:KTWO) last announced its quarterly earnings results on Wednesday, November 1st. The medical device company reported ($0.20) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.19) by ($0.01). K2M Group Holdings had a negative net margin of 16.22% and a negative return on equity of 16.02%. The firm had revenue of $62.65 million for the quarter, compared to analyst estimates of $62.69 million. During the same period in the previous year, the business posted ($0.19) earnings per share. The business’s revenue for the quarter was up 5.6% compared to the same quarter last year.

A number of analysts have recently commented on KTWO shares. Zacks Investment Research raised K2M Group Holdings from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a research note on Wednesday, October 4th. Needham & Company LLC cut their price target on K2M Group Holdings from $27.00 to $26.00 and set a “strong-buy” rating on the stock in a research note on Thursday, November 2nd. Wells Fargo & Company cut their price target on K2M Group Holdings from $28.00 to $23.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 10th. Royal Bank Of Canada reissued a “buy” rating and set a $26.00 price target on shares of K2M Group Holdings in a research note on Friday, September 22nd. Finally, Cowen and Company reissued an “outperform” rating and set a $22.00 price target (down from $28.00) on shares of K2M Group Holdings in a research note on Tuesday, October 10th. One research analyst has rated the stock with a sell rating, one has given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $25.00.

In related news, insider John Philip Md Kostuik sold 1,332 shares of K2M Group Holdings stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $23.30, for a total value of $31,035.60. Following the transaction, the insider now directly owns 200,629 shares of the company’s stock, valued at $4,674,655.70. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 5.80% of the stock is owned by insiders.

Several institutional investors have recently bought and sold shares of KTWO. Cubist Systematic Strategies LLC lifted its stake in shares of K2M Group Holdings by 7,765.0% in the third quarter. Cubist Systematic Strategies LLC now owns 4,719 shares of the medical device company’s stock worth $100,000 after acquiring an additional 4,659 shares during the period. Rockefeller Financial Services Inc. acquired a new position in shares of K2M Group Holdings in the third quarter worth approximately $105,000. BNP Paribas Arbitrage SA lifted its stake in shares of K2M Group Holdings by 5,175.3% in the second quarter. BNP Paribas Arbitrage SA now owns 4,484 shares of the medical device company’s stock worth $109,000 after acquiring an additional 4,399 shares during the period. Legal & General Group Plc lifted 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 acquiring an additional 564 shares during the period. Finally, Dorsey & Whitney Trust CO LLC acquired a new position in shares of K2M Group Holdings in the second quarter worth approximately $211,000. 99.92% of the stock is currently owned by institutional investors.

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Shares of K2M Group Holdings (KTWO) traded down $0.05 during mid-day trading on Tuesday, hitting $18.99. The stock had a trading volume of 266,454 shares, compared to its average volume of 414,238. K2M Group Holdings has a 12-month low of $17.23 and a 12-month high of $25.99. The company has a current ratio of 3.06, a quick ratio of 1.67 and a debt-to-equity ratio of 0.29.

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.

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