SeaSpine Holdings Corp (SPNE) Receives $19.40 Consensus PT from Brokerages

Shares of SeaSpine Holdings Corp (NASDAQ:SPNE) have been given an average recommendation of “Buy” by the eight ratings firms that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a hold recommendation, six have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $19.40.

A number of brokerages have recently commented on SPNE. Zacks Investment Research lowered SeaSpine from a “buy” rating to a “hold” rating in a research note on Friday, October 5th. HC Wainwright reissued a “buy” rating and set a $15.00 price target on shares of SeaSpine in a research note on Tuesday, July 31st. Piper Jaffray Companies lifted their price target on SeaSpine from $16.00 to $20.00 and gave the company an “overweight” rating in a research note on Tuesday, October 2nd. Cantor Fitzgerald reissued an “overweight” rating and set a $22.00 price target on shares of SeaSpine in a research note on Thursday, October 4th. Finally, BidaskClub raised SeaSpine from a “hold” rating to a “buy” rating in a research note on Saturday, October 27th.

In other news, Director John B. Henneman III sold 4,564 shares of the firm’s stock in a transaction dated Monday, August 27th. The stock was sold at an average price of $14.72, for a total transaction of $67,182.08. Following the completion of the transaction, the director now directly owns 60,144 shares in the company, valued at $885,319.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John B. Henneman III sold 3,407 shares of the firm’s stock in a transaction dated Wednesday, August 29th. The stock was sold at an average price of $14.65, for a total value of $49,912.55. Following the transaction, the director now owns 60,144 shares of the company’s stock, valued at $881,109.60. The disclosure for this sale can be found here. Company insiders own 13.54% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Novo Holdings A S raised its position in shares of SeaSpine by 0.8% during the second quarter. Novo Holdings A S now owns 927,788 shares of the medical equipment provider’s stock worth $11,709,000 after acquiring an additional 7,408 shares during the last quarter. Schwab Charles Investment Management Inc. raised its position in shares of SeaSpine by 99.6% during the second quarter. Schwab Charles Investment Management Inc. now owns 46,267 shares of the medical equipment provider’s stock worth $584,000 after acquiring an additional 23,090 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of SeaSpine by 11.9% during the second quarter. Dimensional Fund Advisors LP now owns 573,671 shares of the medical equipment provider’s stock worth $7,240,000 after acquiring an additional 60,848 shares during the last quarter. Russell Investments Group Ltd. raised its position in shares of SeaSpine by 14.0% during the second quarter. Russell Investments Group Ltd. now owns 464,117 shares of the medical equipment provider’s stock worth $5,856,000 after acquiring an additional 57,172 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of SeaSpine by 5.9% during the second quarter. Renaissance Technologies LLC now owns 458,000 shares of the medical equipment provider’s stock worth $5,780,000 after acquiring an additional 25,608 shares during the last quarter. Institutional investors own 52.97% of the company’s stock.

Shares of SPNE stock traded down $0.14 during mid-day trading on Friday, reaching $17.31. 67,722 shares of the stock traded hands, compared to its average volume of 174,149. SeaSpine has a 1-year low of $8.76 and a 1-year high of $18.42. The firm has a market capitalization of $254.76 million, a price-to-earnings ratio of -6.71 and a beta of 0.19. The company has a current ratio of 3.20, a quick ratio of 1.48 and a debt-to-equity ratio of 0.04.

SeaSpine (NASDAQ:SPNE) last announced its quarterly earnings results on Tuesday, November 6th. The medical equipment provider reported ($0.65) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.48) by ($0.17). SeaSpine had a negative net margin of 21.75% and a negative return on equity of 27.65%. The firm had revenue of $35.83 million for the quarter, compared to analyst estimates of $35.56 million. On average, sell-side analysts predict that SeaSpine will post -1.95 earnings per share 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 regions of the spine.

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Analyst Recommendations for SeaSpine (NASDAQ:SPNE)

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