K2M Group Holdings Inc (KTWO) Expected to Announce Quarterly Sales of $71.50 Million

Analysts expect K2M Group Holdings Inc (NASDAQ:KTWO) to post $71.50 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for K2M Group’s earnings, with the highest sales estimate coming in at $71.90 million and the lowest estimate coming in at $71.10 million. K2M Group reported sales of $62.65 million in the same quarter last year, which would suggest a positive year over year growth rate of 14.1%. The company is expected to issue its next earnings results on Wednesday, November 7th.

On average, analysts expect that K2M Group will report full-year sales of $289.05 million for the current year, with estimates ranging from $289.00 million to $289.10 million. For the next fiscal year, analysts anticipate that the firm will post sales of $318.60 million, with estimates ranging from $317.80 million to $319.40 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for K2M Group.

K2M Group (NASDAQ:KTWO) last issued its quarterly earnings data on Wednesday, August 1st. The medical device company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.06). The company had revenue of $73.58 million during the quarter, compared to analysts’ expectations of $70.85 million. K2M Group had a negative return on equity of 16.27% and a negative net margin of 14.49%. The business’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same period last year, the company earned ($0.21) earnings per share.

A number of analysts recently commented on KTWO shares. Oppenheimer downgraded K2M Group from an “outperform” rating to a “hold” rating in a research report on Friday, August 31st. Needham & Company LLC downgraded K2M Group from a “buy” rating to a “hold” rating in a research report on Thursday, August 30th. ValuEngine raised K2M Group from a “hold” rating to a “buy” rating in a research report on Thursday, August 30th. Cowen downgraded K2M Group from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $28.00 to $27.50 in a research report on Tuesday, September 4th. Finally, Cantor Fitzgerald downgraded K2M Group from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $28.00 to $27.50 in a research report on Tuesday, September 4th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $26.43.

In related news, CFO Gregory S. Cole sold 82,304 shares of the stock in a transaction that occurred on Thursday, August 30th. The stock was sold at an average price of $27.40, for a total transaction of $2,255,129.60. Following the completion of the sale, the chief financial officer now directly owns 147,963 shares of the company’s stock, valued at $4,054,186.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Gregory S. Cole sold 1,480 shares of the firm’s stock in a transaction on Thursday, August 16th. The stock was sold at an average price of $20.08, for a total value of $29,718.40. Following the completion of the sale, the chief financial officer now directly owns 65,659 shares of the company’s stock, valued at $1,318,432.72. The disclosure for this sale can be found here. Insiders have sold 84,479 shares of company stock valued at $2,298,880 over the last ninety days. 6.00% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in KTWO. Point72 Asset Management L.P. purchased a new stake in K2M Group in the first quarter worth $8,958,000. BlackRock Inc. increased its position in K2M Group by 6.4% in the second quarter. BlackRock Inc. now owns 3,044,631 shares of the medical device company’s stock worth $68,503,000 after buying an additional 183,859 shares during the last quarter. Penn Capital Management Co. Inc. increased its position in K2M Group by 32.7% in the second quarter. Penn Capital Management Co. Inc. now owns 733,489 shares of the medical device company’s stock worth $16,521,000 after buying an additional 180,589 shares during the last quarter. Russell Investments Group Ltd. increased its position in K2M Group by 227.7% in the second quarter. Russell Investments Group Ltd. now owns 197,944 shares of the medical device company’s stock worth $4,454,000 after buying an additional 137,547 shares during the last quarter. Finally, Gamco Investors INC. ET AL increased its position in K2M Group by 39.6% in the second quarter. Gamco Investors INC. ET AL now owns 343,056 shares of the medical device company’s stock worth $7,719,000 after buying an additional 97,306 shares during the last quarter.

Shares of KTWO traded down $0.03 on Monday, reaching $27.33. 2,005,982 shares of the company’s stock traded hands, compared to its average volume of 509,180. The company has a current ratio of 3.48, a quick ratio of 2.13 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $1.19 billion, a price-to-earnings ratio of -31.41 and a beta of 1.61. K2M Group has a 52-week low of $16.44 and a 52-week high of $27.50.

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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