SeaSpine (NASDAQ:SPNE) has been assigned a $19.00 price objective by investment analysts at HC Wainwright in a research report issued to clients and investors on Thursday, The Fly reports. The firm presently has a “buy” rating on the medical equipment provider’s stock. HC Wainwright’s target price suggests a potential upside of 9.51% from the company’s current price.

Several other brokerages have also recently weighed in on SPNE. Cantor Fitzgerald reiterated a “buy” rating and issued a $16.00 price objective on shares of SeaSpine in a research note on Monday, July 30th. 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. 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 cut shares of SeaSpine from a “hold” rating to a “sell” rating in a research note on Friday, August 3rd. Finally, BidaskClub upgraded shares of SeaSpine from a “hold” rating to a “buy” rating in a research note on Saturday, October 27th. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $20.17.

Shares of NASDAQ:SPNE opened at $17.35 on Thursday. SeaSpine has a twelve month low of $8.76 and a twelve month high of $18.42. The company has a current ratio of 2.91, a quick ratio of 1.48 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $256.38 million, a PE ratio of -6.72 and a beta of 0.19.

SeaSpine (NASDAQ:SPNE) last issued its quarterly earnings data on Tuesday, November 6th. The medical equipment provider reported ($0.65) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.53) by ($0.12). SeaSpine had a negative return on equity of 30.81% and a negative net margin of 22.60%. The business had revenue of $35.83 million during the quarter, compared to the consensus estimate of $35.56 million. As a group, analysts expect that SeaSpine will post -1.94 EPS for the current fiscal year.

In other SeaSpine news, Director John B. Henneman III sold 4,564 shares of the firm’s stock in a transaction that occurred 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 sale, the director now owns 60,144 shares in the company, valued at approximately $885,319.68. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John B. Henneman III sold 3,407 shares of the firm’s stock in a transaction that occurred 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 sale, the director now owns 60,144 shares in the company, valued at approximately $881,109.60. The disclosure for this sale can be found here. 13.54% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. raised its stake in SeaSpine by 110.3% during the 2nd quarter. BlackRock Inc. now owns 936,948 shares of the medical equipment provider’s stock worth $11,826,000 after acquiring an additional 491,379 shares during the period. Novo Holdings A S raised its stake in SeaSpine by 0.8% during the 2nd 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 period. Dimensional Fund Advisors LP raised its stake in SeaSpine by 11.9% during the 2nd 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 period. Russell Investments Group Ltd. raised its stake in SeaSpine by 6.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 492,877 shares of the medical equipment provider’s stock worth $7,669,000 after acquiring an additional 28,760 shares during the period. Finally, Renaissance Technologies LLC raised its stake in SeaSpine by 5.9% during the 2nd 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 period. Institutional investors own 52.97% of the company’s stock.

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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The Fly

Analyst Recommendations for SeaSpine (NASDAQ:SPNE)

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