Credit Suisse AG boosted its position in K2M Group Holdings, Inc. (NASDAQ:KTWO) by 9.8% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 212,672 shares of the medical device company’s stock after buying an additional 18,931 shares during the period. Credit Suisse AG owned approximately 0.50% of K2M Group Holdings worth $4,360,000 as of its most recent filing with the SEC.
Other institutional investors have also recently modified their holdings of the company. Suntrust Banks Inc. bought a new stake in shares of K2M Group Holdings during the first quarter valued at $400,000. Bank of New York Mellon Corp boosted its stake 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 valued at $4,329,000 after buying an additional 9,331 shares during the last quarter. C WorldWide Group Holding A S boosted its stake in shares of K2M Group Holdings by 93.7% in the first quarter. C WorldWide Group Holding A S now owns 174,371 shares of the medical device company’s stock valued at $3,576,000 after buying an additional 84,371 shares during the last quarter. Tocqueville Asset Management L.P. bought a new stake in shares of K2M Group Holdings during the first quarter valued at $287,000. Finally, Essex Investment Management Co. LLC bought a new stake in shares of K2M Group Holdings during the first quarter valued at $1,529,000. 96.79% of the stock is owned by institutional investors and hedge funds.
Shares of K2M Group Holdings, Inc. (KTWO) opened at 23.77 on Friday. The company’s 50 day moving average price is $24.01 and its 200 day moving average price is $21.93. The company’s market cap is $1.03 billion. K2M Group Holdings, Inc. has a 12 month low of $15.45 and a 12 month high of $25.99.
K2M Group Holdings (NASDAQ:KTWO) last announced its quarterly earnings results on Tuesday, August 1st. The medical device company reported ($0.21) earnings per share (EPS) for the quarter, beating 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 company had revenue of $65.70 million for the quarter, compared to the consensus estimate of $66.26 million. During the same quarter in the previous year, the business earned ($0.27) EPS. K2M Group Holdings’s revenue was up 11.0% compared to the same quarter last year. On average, equities analysts expect that K2M Group Holdings, Inc. will post ($0.78) EPS for the current fiscal year.
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Several equities research analysts have recently weighed in on the company. Oppenheimer Holdings, Inc. reissued a “buy” rating on shares of K2M Group Holdings in a research note on Thursday, June 22nd. Barclays PLC increased their price target on K2M Group Holdings from $26.00 to $27.00 and gave the company an “overweight” rating in a research note on Monday, April 24th. Royal Bank Of Canada reissued a “buy” rating and issued a $26.00 price target on shares of K2M Group Holdings in a research note on Thursday, July 20th. BidaskClub raised K2M Group Holdings from a “hold” rating to a “buy” rating in a research note on Wednesday, July 19th. Finally, Cowen and Company reissued a “buy” rating and issued a $26.00 price target on shares of K2M Group Holdings in a research note on Wednesday, July 19th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. K2M Group Holdings currently has an average rating of “Buy” and a consensus price target of $26.25.
In related news, insider John Philip Md Kostuik sold 50,000 shares of the business’s stock in a transaction dated Thursday, May 25th. The stock was sold at an average price of $22.70, for a total transaction of $1,135,000.00. Following the transaction, the insider now owns 199,107 shares in the company, valued at approximately $4,519,728.90. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Gregory S. Cole sold 42,947 shares of the business’s stock in a transaction dated Friday, June 16th. The shares were sold at an average price of $22.80, for a total value of $979,191.60. Following the transaction, the chief financial officer now owns 87,425 shares in the company, valued at approximately $1,993,290. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 93,903 shares of company stock worth $2,137,451. 5.80% of the stock is owned by company insiders.
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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