Monarch Partners Asset Management LLC bought a new position in SeaSpine Holdings Corp (NASDAQ:SPNE) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 35,327 shares of the medical equipment provider’s stock, valued at approximately $644,000. Monarch Partners Asset Management LLC owned about 0.19% of SeaSpine as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in SPNE. Strs Ohio bought a new position in SeaSpine in the 4th quarter worth about $107,000. Rhumbline Advisers increased its stake in SeaSpine by 61.3% in the 4th quarter. Rhumbline Advisers now owns 18,193 shares of the medical equipment provider’s stock worth $332,000 after acquiring an additional 6,915 shares during the last quarter. Bank of New York Mellon Corp increased its stake in SeaSpine by 261.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 37,185 shares of the medical equipment provider’s stock worth $470,000 after acquiring an additional 26,895 shares during the last quarter. EAM Investors LLC bought a new position in SeaSpine in the 3rd quarter worth about $850,000. Finally, Wedge Capital Management L L P NC increased its stake in SeaSpine by 31.0% in the 3rd quarter. Wedge Capital Management L L P NC now owns 76,220 shares of the medical equipment provider’s stock worth $1,186,000 after acquiring an additional 18,045 shares during the last quarter. Institutional investors and hedge funds own 46.26% of the company’s stock.
In other news, Director Stuart Essig sold 8,900 shares of the company’s stock in a transaction dated Monday, February 11th. The stock was sold at an average price of $16.01, for a total value of $142,489.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 74,000 shares of company stock valued at $1,189,948 over the last quarter. Company insiders own 13.54% of the company’s stock.
SPNE opened at $16.89 on Wednesday. SeaSpine Holdings Corp has a 12-month low of $9.51 and a 12-month high of $20.75. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.91 and a quick ratio of 1.31. The stock has a market capitalization of $304.31 million, a PE ratio of -6.55 and a beta of 0.08.
A number of equities analysts have weighed in on SPNE shares. Cantor Fitzgerald restated a “buy” rating and issued a $22.00 target price on shares of SeaSpine in a research note on Monday, January 7th. Zacks Investment Research lowered SeaSpine from a “buy” rating to a “hold” rating in a research note on Friday, November 16th. Wells Fargo & Co began coverage on SeaSpine in a research note on Thursday, December 13th. They issued an “outperform” rating and a $22.00 target price on the stock. BidaskClub upgraded SeaSpine from a “hold” rating to a “buy” rating in a report on Saturday, October 27th. Finally, HC Wainwright set a $19.00 price objective on SeaSpine and gave the stock a “buy” rating in a report on Thursday, November 8th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. SeaSpine has a consensus rating of “Buy” and a consensus price target of $20.43.
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SeaSpine Holdings Corporation, a medical technology company, focuses on the design, development, and commercialization of surgical solutions for the treatment of spinal disorders in the United States and internationally. The company provides orthobiologics and spinal implant solutions for the neurosurgeons and orthopedic spine surgeons to perform fusion procedures in the lumbar, thoracic, and cervical regions of the spine.
Further Reading: Fundamental Analysis
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