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.
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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