Wells Fargo & Company Downgrades K2M Group (KTWO) to Market Perform

K2M Group (NASDAQ:KTWO) was downgraded by equities research analysts at Wells Fargo & Company from an “outperform” rating to a “market perform” rating in a note issued to investors on Monday. They presently have a $23.00 price objective on the medical device company’s stock. Wells Fargo & Company’s target price indicates a potential upside of 29.07% from the stock’s current price.

KTWO has been the topic of several other reports. Zacks Investment Research raised K2M Group from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a research report on Wednesday, October 4th. Needham & Company LLC cut their price objective on K2M Group from $27.00 to $26.00 and set a “strong-buy” rating on the stock in a research report on Thursday, November 2nd. Oppenheimer reissued a “buy” rating and issued a $24.00 price objective on shares of K2M Group in a research report on Friday, November 10th. Cowen reaffirmed an “outperform” rating and set a $22.00 target price (down from $28.00) on shares of K2M Group in a research report on Tuesday, October 10th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and set a $26.00 target price on shares of K2M Group in a research report on Friday, September 22nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. K2M Group currently has an average rating of “Buy” and a consensus price target of $25.00.

K2M Group (NASDAQ:KTWO) opened at $17.82 on Monday. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.06 and a quick ratio of 1.67. K2M Group has a 52-week low of $17.23 and a 52-week high of $25.99.

K2M Group (NASDAQ:KTWO) last released its quarterly earnings data on Wednesday, November 1st. The medical device company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.01). K2M Group had a negative net margin of 16.22% and a negative return on equity of 16.02%. The company had revenue of $62.65 million during the quarter, compared to analysts’ expectations of $62.69 million. During the same period last year, the business earned ($0.19) earnings per share. The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. equities analysts anticipate that K2M Group will post -0.86 EPS for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Cubist Systematic Strategies LLC increased its position in shares of K2M Group by 7,765.0% during 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 last quarter. Rockefeller Financial Services Inc. acquired a new position in K2M Group in the third quarter worth about $105,000. BNP Paribas Arbitrage SA grew its stake in 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 worth $109,000 after purchasing an additional 4,399 shares in the last quarter. Legal & General Group Plc grew its stake in K2M Group 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 purchasing an additional 564 shares in the last quarter. Finally, Dorsey & Whitney Trust CO LLC acquired a new position in K2M Group in the second quarter worth about $211,000. 99.16% of the stock is currently owned by institutional investors and hedge funds.

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About K2M Group

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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