After Cantor Fitzgerald and Needham gave K2M Group Holdings (NASDAQ: KTWO) a Buy rating last month, the company received another Buy, this time from RBC Capital. Analyst Glenn Novarro reiterated a Buy rating on K2M Group Holdings yesterday and set a price target of $24. The company’s shares closed yesterday at $22.10.
According to TipRanks.com, Novarro is a 5-star analyst with an average return of 14.7% and a 79.5% success rate. Novarro covers the Healthcare sector, focusing on stocks such as Boston Scientific Corp, Baxter International, and Edwards Lifesciences.
K2M Group Holdings has an analyst consensus of Strong Buy, with a price target consensus of $26.80, representing a 21.3% upside. In a report issued on August 1, Cantor Fitzgerald also reiterated a Buy rating on the stock with a $28 price target.
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Based on K2M Group Holdings’ latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $10.79 million. In comparison, last year the company had a GAAP net loss of $9.06 million.
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K2M Group Holdings, Inc. is a global medical device company. It focused on designing, developing and commercializing innovative and proprietary complex spine technologies and techniques. The company’s complex spine products are used by spine surgeons to treat some of the most difficult and challenging spinal pathologies, such as deformity, trauma and tumor.
