SeaSpine (SPNE) Stock Rating Upgraded by ValuEngine

ValuEngine upgraded shares of SeaSpine (NASDAQ:SPNE) from a sell rating to a hold rating in a report issued on Monday.

SPNE has been the subject of several other research reports. HC Wainwright set a $15.00 price objective on shares of SeaSpine and gave the company a buy rating in a research report on Friday, March 2nd. BTIG Research reaffirmed a buy rating and issued a $17.00 price objective on shares of SeaSpine in a research report on Friday, March 2nd. Ladenburg Thalmann Financial Services started coverage on shares of SeaSpine in a research report on Thursday, December 14th. They issued a buy rating and a $20.00 price objective for the company. Finally, Zacks Investment Research downgraded shares of SeaSpine from a buy rating to a hold rating in a research report on Friday, January 5th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of Buy and a consensus price target of $17.20.

NASDAQ SPNE opened at $10.64 on Monday. SeaSpine has a one year low of $7.37 and a one year high of $13.46.

SeaSpine (NASDAQ:SPNE) last posted its quarterly earnings results on Wednesday, February 28th. The medical equipment provider reported ($0.56) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.52) by ($0.04). SeaSpine had a negative net margin of 24.36% and a negative return on equity of 29.96%. The business had revenue of $33.98 million during the quarter. analysts expect that SeaSpine will post -1.99 EPS for the current year.

A number of large investors have recently modified their holdings of SPNE. Northern Trust Corp grew its position in SeaSpine by 2.3% in the second quarter. Northern Trust Corp now owns 24,869 shares of the medical equipment provider’s stock valued at $286,000 after acquiring an additional 559 shares in the last quarter. Vanguard Group Inc. grew its position in SeaSpine by 10.6% in the second quarter. Vanguard Group Inc. now owns 334,832 shares of the medical equipment provider’s stock valued at $3,857,000 after acquiring an additional 32,191 shares in the last quarter. Russell Investments Group Ltd. grew its position in SeaSpine by 14.2% in the third quarter. Russell Investments Group Ltd. now owns 278,884 shares of the medical equipment provider’s stock valued at $3,130,000 after acquiring an additional 34,637 shares in the last quarter. Macquarie Group Ltd. acquired a new stake in SeaSpine in the third quarter valued at approximately $304,000. Finally, Trexquant Investment LP acquired a new stake in SeaSpine in the third quarter valued at approximately $214,000. 38.39% of the stock is owned by institutional investors.

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About SeaSpine

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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