Bank of New York Mellon Corp lifted its holdings in K2M Group Holdings Inc (NASDAQ:KTWO) by 28.3% during the 4th quarter, HoldingsChannel reports. The fund owned 488,438 shares of the medical device company’s stock after acquiring an additional 107,801 shares during the quarter. Bank of New York Mellon Corp’s holdings in K2M Group were worth $8,792,000 as of its most recent filing with the SEC.
Several other hedge funds have also added to or reduced their stakes in KTWO. Elk Creek Partners LLC acquired a new position in shares of K2M Group in the third quarter valued at about $7,836,000. Gabelli Funds LLC grew its stake in shares of K2M Group by 1,587.1% in the fourth quarter. Gabelli Funds LLC now owns 308,733 shares of the medical device company’s stock valued at $5,557,000 after acquiring an additional 290,433 shares in the last quarter. Gamco Investors INC. ET AL grew its stake in shares of K2M Group by 458.4% in the fourth quarter. Gamco Investors INC. ET AL now owns 223,375 shares of the medical device company’s stock valued at $4,021,000 after acquiring an additional 183,375 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of K2M Group by 4.9% in the third quarter. JPMorgan Chase & Co. now owns 1,031,404 shares of the medical device company’s stock valued at $21,318,000 after acquiring an additional 48,297 shares in the last quarter. Finally, Emerald Advisers Inc. PA grew its stake in shares of K2M Group by 3.6% in the fourth quarter. Emerald Advisers Inc. PA now owns 1,132,687 shares of the medical device company’s stock valued at $20,388,000 after acquiring an additional 39,026 shares in the last quarter. Institutional investors and hedge funds own 99.31% of the company’s stock.
KTWO has been the topic of several research reports. Needham & Company LLC downgraded shares of K2M Group from a “strong-buy” rating to a “buy” rating and decreased their price target for the company from $26.00 to $20.00 in a research note on Friday, December 8th. Barclays restated a “buy” rating and issued a $25.00 price target on shares of K2M Group in a research note on Tuesday, January 9th. BidaskClub upgraded shares of K2M Group from a “hold” rating to a “buy” rating in a research note on Wednesday, March 7th. Oppenheimer set a $24.00 price target on shares of K2M Group and gave the company a “buy” rating in a research note on Thursday, March 1st. Finally, Zacks Investment Research upgraded shares of K2M Group from a “sell” rating to a “hold” rating in a research note on Thursday, January 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $24.50.
K2M Group (NASDAQ:KTWO) last announced its quarterly earnings data on Wednesday, February 28th. The medical device company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.01). The firm had revenue of $67.80 million for the quarter, compared to analyst estimates of $67.36 million. K2M Group had a negative return on equity of 14.85% and a negative net margin of 14.40%. The company’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.30) earnings per share. equities research analysts forecast that K2M Group Holdings Inc will post -0.72 earnings per share for the current year.
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K2M Group Profile
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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