Brokerages Set SeaSpine Holdings Corp (NASDAQ:SPNE) PT at $21.33

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SeaSpine Holdings Corp (NASDAQ:SPNE) has earned an average recommendation of “Hold” from the six ratings firms that are presently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $18.33.

SPNE has been the topic of several recent research reports. Zacks Investment Research cut SeaSpine from a “hold” rating to a “sell” rating in a research note on Saturday, November 2nd. BidaskClub cut SeaSpine from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Wells Fargo & Co cut SeaSpine from an “overweight” rating to an “underweight” rating and set a $13.00 price target on the stock. in a research note on Thursday. Finally, ValuEngine raised SeaSpine from a “hold” rating to a “buy” rating in a research note on Friday, October 4th.

SPNE stock traded down $0.13 during midday trading on Monday, hitting $11.03. The stock had a trading volume of 211,203 shares, compared to its average volume of 63,247. The firm has a market cap of $228.80 million, a price-to-earnings ratio of -5.06 and a beta of 0.18. The business has a 50-day moving average of $12.96 and a two-hundred day moving average of $12.45. SeaSpine has a 52-week low of $10.44 and a 52-week high of $18.53.

SeaSpine (NASDAQ:SPNE) last issued its quarterly earnings results on Tuesday, October 29th. The medical equipment provider reported ($0.51) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.43) by ($0.08). The firm had revenue of $39.89 million during the quarter, compared to analysts’ expectations of $38.48 million. SeaSpine had a negative return on equity of 27.36% and a negative net margin of 26.22%. Equities research analysts expect that SeaSpine will post -1.79 EPS for the current year.

In related news, CEO Keith Valentine bought 20,000 shares of the company’s stock in a transaction on Friday, December 13th. The shares were acquired at an average cost of $11.03 per share, with a total value of $220,600.00. Insiders own 12.47% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. Panagora Asset Management Inc. bought a new stake in SeaSpine in the second quarter worth $157,000. GSA Capital Partners LLP bought a new position in shares of SeaSpine during the second quarter valued at $174,000. Strs Ohio lifted its holdings in shares of SeaSpine by 7.8% during the second quarter. Strs Ohio now owns 15,200 shares of the medical equipment provider’s stock valued at $201,000 after purchasing an additional 1,100 shares in the last quarter. Commonwealth Equity Services LLC lifted its holdings in shares of SeaSpine by 11.0% during the third quarter. Commonwealth Equity Services LLC now owns 21,725 shares of the medical equipment provider’s stock valued at $265,000 after purchasing an additional 2,152 shares in the last quarter. Finally, Rhumbline Advisers lifted its holdings in shares of SeaSpine by 8.8% during the third quarter. Rhumbline Advisers now owns 24,102 shares of the medical equipment provider’s stock valued at $294,000 after purchasing an additional 1,947 shares in the last quarter. 65.29% of the stock is currently owned by institutional investors and hedge funds.

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 spine.

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