SeaSpine Holdings Corp (SPNE) Receives $19.40 Average Price Target from Analysts

Shares of SeaSpine Holdings Corp (NASDAQ:SPNE) have been assigned a consensus rating of “Buy” from the seven ratings firms that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $19.40.

SPNE has been the subject of several research reports. Piper Jaffray Companies boosted their price objective on shares of SeaSpine from $16.00 to $20.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 2nd. ValuEngine upgraded shares of SeaSpine from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, September 11th. Zacks Investment Research downgraded shares of SeaSpine from a “buy” rating to a “hold” rating in a research note on Friday, October 5th. LADENBURG THALM/SH SH set a $23.00 price objective on shares of SeaSpine and gave the stock a “buy” rating in a research note on Wednesday, October 3rd. Finally, Cantor Fitzgerald reiterated a “buy” rating and set a $16.00 price objective on shares of SeaSpine in a research note on Monday, July 30th.

In other news, Director John B. Henneman III sold 4,564 shares of the business’s stock in a transaction on Monday, August 27th. The shares were sold at an average price of $14.72, for a total transaction of $67,182.08. Following the transaction, the director now directly owns 60,144 shares of the company’s stock, valued at $885,319.68. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John B. Henneman III sold 3,407 shares of the business’s stock in a transaction on Wednesday, August 29th. The stock was sold at an average price of $14.65, for a total transaction of $49,912.55. Following the transaction, the director now directly owns 60,144 shares in the company, valued at $881,109.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 51,467 shares of company stock worth $726,039. Corporate insiders own 13.54% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of SPNE. BlackRock Inc. lifted its position in shares of SeaSpine by 110.3% during the second quarter. BlackRock Inc. now owns 936,948 shares of the medical equipment provider’s stock worth $11,826,000 after purchasing an additional 491,379 shares in the last quarter. Northern Trust Corp lifted its position in shares of SeaSpine by 270.5% during the second quarter. Northern Trust Corp now owns 131,583 shares of the medical equipment provider’s stock worth $1,661,000 after purchasing an additional 96,071 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of 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 in the last quarter. Russell Investments Group Ltd. lifted its position in shares of 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 in the last quarter. Finally, FNY Investment Advisers LLC acquired a new position in shares of SeaSpine during the second quarter worth $892,000. 53.39% of the stock is currently owned by institutional investors and hedge funds.

SPNE traded up $0.10 during trading on Wednesday, hitting $16.10. 156,795 shares of the company’s stock were exchanged, compared to its average volume of 57,971. The company has a quick ratio of 1.48, a current ratio of 3.20 and a debt-to-equity ratio of 0.04. SeaSpine has a 1 year low of $8.76 and a 1 year high of $18.42. The company has a market cap of $229.40 million, a P/E ratio of -6.24 and a beta of 0.46.

SeaSpine (NASDAQ:SPNE) last released its quarterly earnings data on Monday, July 30th. The medical equipment provider reported ($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.48) by ($0.02). SeaSpine had a negative return on equity of 27.65% and a negative net margin of 21.75%. The business had revenue of $36.41 million for the quarter, compared to analysts’ expectations of $34.12 million. Research analysts anticipate that SeaSpine will post -1.95 earnings per share for the current year.

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.

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Analyst Recommendations for SeaSpine (NASDAQ:SPNE)

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