Equities research analysts expect K2M Group Holdings Inc (NASDAQ:KTWO) to announce $65.85 million in sales for the current fiscal quarter, Zacks reports. Two analysts have made estimates for K2M Group’s earnings, with estimates ranging from $65.80 million to $65.90 million. K2M Group reported sales of $61.89 million in the same quarter last year, which would suggest a positive year over year growth rate of 6.4%. The firm is scheduled to announce its next quarterly earnings results on Tuesday, May 1st.
According to Zacks, analysts expect that K2M Group will report full-year sales of $65.85 million for the current financial year, with estimates ranging from $281.70 million to $282.50 million. For the next fiscal year, analysts forecast that the business will post sales of $309.45 million per share, with estimates ranging from $307.70 million to $310.70 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow K2M Group.
K2M Group (NASDAQ:KTWO) last released its quarterly earnings data on Wednesday, February 28th. The medical device company reported ($0.20) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.19) by ($0.01). K2M Group had a negative return on equity of 14.85% and a negative net margin of 14.40%. The firm had revenue of $67.80 million for the quarter, compared to analysts’ expectations of $67.36 million. During the same period last year, the firm posted ($0.30) earnings per share. K2M Group’s revenue for the quarter was up 9.7% on a year-over-year basis.
KTWO has been the subject of a number of research reports. Zacks Investment Research cut shares of K2M Group from a “hold” rating to a “sell” rating in a research report on Tuesday, January 9th. BidaskClub cut shares of K2M Group from a “buy” rating to a “hold” rating in a research report on Wednesday, December 6th. Wells Fargo & Co cut shares of K2M Group from an “outperform” rating to a “market perform” rating and set a $23.00 price target for the company. in a research report on Monday, December 4th. Needham & Company LLC cut shares of K2M Group from a “strong-buy” rating to a “buy” rating and reduced their price target for the company from $26.00 to $20.00 in a research report on Friday, December 8th. Finally, Barclays reissued a “buy” rating and issued a $25.00 price target on shares of K2M Group in a research report on Tuesday, January 9th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $24.50.
Shares of K2M Group (KTWO) opened at $19.79 on Thursday. K2M Group has a 1 year low of $16.44 and a 1 year high of $25.99. The firm has a market cap of $854.01, a price-to-earnings ratio of -22.75 and a beta of 1.42. The company has a quick ratio of 1.52, a current ratio of 2.84 and a debt-to-equity ratio of 0.30.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Cubist Systematic Strategies LLC increased its stake in K2M Group by 7,765.0% in the third quarter. Cubist Systematic Strategies LLC now owns 4,719 shares of the medical device company’s stock valued at $100,000 after purchasing an additional 4,659 shares during the period. Trexquant Investment LP acquired a new position in K2M Group in the third quarter valued at $223,000. Quantbot Technologies LP increased its stake in K2M Group by 275.9% in the third quarter. Quantbot Technologies LP now owns 10,593 shares of the medical device company’s stock valued at $224,000 after purchasing an additional 7,775 shares during the period. Teacher Retirement System of Texas acquired a new position in K2M Group in the fourth quarter valued at $213,000. Finally, Oppenheimer Asset Management Inc. acquired a new position in K2M Group in the third quarter valued at $347,000. Institutional investors own 99.76% of the company’s stock.
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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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