Cortina Asset Management Lowers stake in K2M Group Holdings Inc (KTWO)

K2M Group Holdings Inc (KTWO) : Cortina Asset Management reduced its stake in K2M Group Holdings Inc by 18.49% during the most recent quarter end. The investment management company now holds a total of 1,650,276 shares of K2M Group Holdings Inc which is valued at $27,411,084 after selling 374,469 shares in K2M Group Holdings Inc , the firm said in a disclosure report filed with the SEC on Aug 11, 2016.K2M Group Holdings Inc makes up approximately 1.17% of Cortina Asset Management’s portfolio.

Other Hedge Funds, Including , Teachers Advisors Inc boosted its stake in KTWO in the latest quarter, The investment management firm added 12,618 additional shares and now holds a total of 40,782 shares of K2M Group Holdings Inc which is valued at $677,389.Blackrock Advisors boosted its stake in KTWO in the latest quarter, The investment management firm added 3,016 additional shares and now holds a total of 12,611 shares of K2M Group Holdings Inc which is valued at $209,469.Friedberg Investment Management reduced its stake in KTWO by selling 400 shares or 1.19% in the most recent quarter. The Hedge Fund company now holds 33,200 shares of KTWO which is valued at $551,452. K2M Group Holdings Inc makes up approx 0.25% of Friedberg Investment Management’s portfolio. Globeflex Capital L P sold out all of its stake in KTWO during the most recent quarter. The investment firm sold 51,109 shares of KTWO which is valued $848,920. Huntington National Bank added KTWO to its portfolio by purchasing 1,202 company shares during the most recent quarter which is valued at $20,170.

K2M Group Holdings Inc closed down -0.37 points or -2.21% at $16.4 with 3,75,627 shares getting traded on Tuesday. Post opening the session at $16.86, the shares hit an intraday low of $16.39 and an intraday high of $16.96 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, K2M Group Holdings Inc reported $-0.27 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Aug 3, 2016. Analyst had a consensus of $-0.28. The company had revenue of $59.20 million for the quarter, compared to analysts expectations of $57.43 million. The company’s revenue was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.16 EPS.

Many Wall Street Analysts have commented on K2M Group Holdings Inc. Needham Upgraded K2M Group Holdings Inc on May 23, 2016 to ” Strong Buy”, Price Target of the shares are set at $21.

K2M Group Holdings Inc. (KTWO) is a global medical device company focused on designing developing and commercializing spine technologies and techniques. The Company’s spine products are used by spine surgeons to treat spinal pathologies such as deformity (primarily scoliosis) trauma and tumor. The Company is engaged in the design development and commercialization of a number of minimally invasive spine (MIS) products and products for patients suffering from degenerative spinal conditions. The Company’s products consist of implants disposables and instruments which are marketed and sold primarily to hospitals for use by spine surgeons. The Company’s technologies include MESA Rail 4D Deformity Cricket CAPRI SERENGETI RAVINE EVEREST and tifix. The Company offers products-based on its technologies for complex spine minimally invasive spine and degenerative spine. The Company is engaged in product development activities for the spine and MIS markets.

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