Brokerages Set SeaSpine Holdings Corp (SPNE) Price Target at $21.00

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Shares of SeaSpine Holdings Corp (NASDAQ:SPNE) have been assigned an average rating of “Buy” from the nine brokerages that are currently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $21.00.

Several research analysts recently issued reports on SPNE shares. ValuEngine lowered shares of SeaSpine from a “strong-buy” rating to a “buy” rating in a research report on Thursday, April 11th. BidaskClub cut shares of SeaSpine from a “hold” rating to a “sell” rating in a research note on Tuesday, March 5th. Cantor Fitzgerald reaffirmed a “buy” rating and set a $22.00 price objective on shares of SeaSpine in a research note on Thursday, May 2nd. BTIG Research reaffirmed a “buy” rating and set a $20.00 price objective on shares of SeaSpine in a research note on Sunday, March 31st. Finally, Zacks Investment Research cut shares of SeaSpine from a “buy” rating to a “hold” rating in a research note on Tuesday, March 5th.

In other SeaSpine news, major shareholder Richard E. Caruso sold 5,020 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $15.17, for a total transaction of $76,153.40. Following the sale, the insider now directly owns 20,477 shares of the company’s stock, valued at $310,636.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 12.47% of the stock is currently owned by corporate insiders.

Institutional investors have recently modified their holdings of the business. Meeder Asset Management Inc. grew its stake in shares of SeaSpine by 406.2% during the first quarter. Meeder Asset Management Inc. now owns 2,374 shares of the medical equipment provider’s stock valued at $35,000 after purchasing an additional 1,905 shares during the last quarter. BNP Paribas Arbitrage SA grew its stake in shares of SeaSpine by 546.4% during the first quarter. BNP Paribas Arbitrage SA now owns 3,077 shares of the medical equipment provider’s stock valued at $46,000 after purchasing an additional 2,601 shares during the last quarter. Marshall Wace North America L.P. bought a new stake in shares of SeaSpine during the first quarter valued at approximately $91,000. Metropolitan Life Insurance Co. NY bought a new stake in shares of SeaSpine during the fourth quarter valued at approximately $103,000. Finally, Strs Ohio bought a new stake in shares of SeaSpine during the fourth quarter valued at approximately $107,000. 66.94% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ:SPNE opened at $14.25 on Thursday. SeaSpine has a 12-month low of $11.16 and a 12-month high of $20.75. The stock has a market capitalization of $269.30 million, a P/E ratio of -6.54 and a beta of 0.06.

SeaSpine (NASDAQ:SPNE) last posted its quarterly earnings results on Wednesday, May 1st. The medical equipment provider reported ($0.48) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.42) by ($0.06). SeaSpine had a negative return on equity of 30.07% and a negative net margin of 24.18%. The business had revenue of $36.15 million during the quarter, compared to analyst estimates of $35.72 million. Analysts expect that SeaSpine will post -1.72 EPS for the current fiscal year.

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 spine.

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