First Light Asset Management LLC raised its holdings in K2M Group Holdings Inc (NASDAQ:KTWO) by 1.6% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 275,068 shares of the medical device company’s stock after purchasing an additional 4,310 shares during the quarter. K2M Group accounts for about 1.1% of First Light Asset Management LLC’s holdings, making the stock its 25th biggest position. First Light Asset Management LLC’s holdings in K2M Group were worth $5,213,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also added to or reduced their stakes in the company. Engineers Gate Manager LP bought a new stake in K2M Group in the first quarter valued at approximately $190,000. Teacher Retirement System of Texas bought a new stake in K2M Group in the fourth quarter valued at approximately $213,000. Natixis Advisors L.P. bought a new stake in K2M Group in the first quarter valued at approximately $229,000. Oppenheimer Asset Management Inc. raised its stake in K2M Group by 18.0% in the first quarter. Oppenheimer Asset Management Inc. now owns 19,285 shares of the medical device company’s stock valued at $366,000 after buying an additional 2,942 shares during the period. Finally, MetLife Investment Advisors LLC bought a new stake in K2M Group in the fourth quarter valued at approximately $350,000.
Several equities analysts have recently commented on KTWO shares. Oppenheimer set a $24.00 target price on K2M Group and gave the company a “buy” rating in a research report on Thursday, March 1st. BidaskClub raised K2M Group from a “hold” rating to a “buy” rating in a research report on Wednesday, March 7th. Needham & Company LLC reaffirmed a “buy” rating and issued a $23.00 target price on shares of K2M Group in a research report on Wednesday, May 2nd. ValuEngine raised K2M Group from a “sell” rating to a “hold” rating in a research report on Wednesday, May 2nd. Finally, Cantor Fitzgerald started coverage on K2M Group in a research report on Thursday, May 31st. They issued an “overweight” rating and a $28.00 target price on the stock. Three analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $24.82.
K2M Group (NASDAQ:KTWO) last issued its quarterly earnings results on Tuesday, May 1st. The medical device company reported ($0.26) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.22) by ($0.04). The company had revenue of $67.90 million for the quarter, compared to analyst estimates of $66.02 million. K2M Group had a negative return on equity of 15.38% and a negative net margin of 14.27%. The company’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.26) EPS. analysts anticipate that K2M Group Holdings Inc will post -0.72 EPS for the current year.
About K2M Group
K2M Group Holdings, Inc, a medical device company, provides spine and minimally invasive solutions in the United States and internationally. The company offers implants, disposables, and instruments primarily to hospitals for use by spine surgeons to treat spinal pathologies, such as deformity, trauma, and tumor.
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