SeaSpine (NASDAQ:SPNE)‘s stock had its “buy” rating reaffirmed by HC Wainwright in a research note issued on Monday.
Other equities research analysts also recently issued reports about the stock. ValuEngine raised shares of SeaSpine from a “hold” rating to a “buy” rating in a research report on Saturday, June 2nd. Zacks Investment Research raised shares of SeaSpine from a “hold” rating to a “buy” rating and set a $13.00 target price for the company in a research report on Thursday, May 24th. Finally, Cantor Fitzgerald initiated coverage on shares of SeaSpine in a research report on Thursday, May 31st. They set an “overweight” rating and a $16.00 target price for the company. Seven investment analysts have rated the stock with a buy rating, The company presently has a consensus rating of “Buy” and a consensus price target of $17.17.
NASDAQ:SPNE opened at $12.82 on Monday. The stock has a market cap of $181.70 million, a PE ratio of -4.97 and a beta of 0.32. SeaSpine has a one year low of $8.76 and a one year high of $14.31.
SeaSpine (NASDAQ:SPNE) last posted its earnings results on Thursday, May 3rd. The medical equipment provider reported ($0.50) EPS for the quarter, topping the consensus estimate of ($0.53) by $0.03. The company had revenue of $33.18 million during the quarter, compared to the consensus estimate of $32.75 million. SeaSpine had a negative net margin of 22.63% and a negative return on equity of 28.04%. research analysts anticipate that SeaSpine will post -1.83 EPS for the current year.
In related news, Director Keith Bradley sold 2,609 shares of the business’s stock in a transaction dated Friday, May 18th. The shares were sold at an average price of $11.96, for a total transaction of $31,203.64. Following the transaction, the director now directly owns 30,502 shares in the company, valued at $364,803.92. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 13.54% of the stock is currently owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. Northern Trust Corp boosted its holdings in SeaSpine by 35.3% during the first quarter. Northern Trust Corp now owns 35,512 shares of the medical equipment provider’s stock worth $360,000 after purchasing an additional 9,271 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in SeaSpine by 9.2% during the first quarter. Dimensional Fund Advisors LP now owns 512,823 shares of the medical equipment provider’s stock worth $5,200,000 after purchasing an additional 43,250 shares during the last quarter. FNY Investment Advisers LLC purchased a new position in SeaSpine during the second quarter worth about $892,000. Russell Investments Group Ltd. boosted its holdings in SeaSpine by 22.3% during the first quarter. Russell Investments Group Ltd. now owns 406,945 shares of the medical equipment provider’s stock worth $4,126,000 after purchasing an additional 74,160 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in SeaSpine by 29.8% during the first quarter. The Manufacturers Life Insurance Company now owns 382,698 shares of the medical equipment provider’s stock worth $3,881,000 after purchasing an additional 87,891 shares during the last quarter. Institutional investors and hedge funds own 45.15% of the company’s stock.
SeaSpine Company Profile
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.
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