Zacks Investment Research cut shares of SeaSpine (NASDAQ:SPNE) from a buy rating to a hold rating in a report published on Friday morning.

According to Zacks, “SeaSpine Holdings Corporation is a medical technology company which focused on the design, development and commercialization of surgical solutions for the treatment of spinal disorders. The company also offers orthobiologics and spinal fusion hardware solutions. SeaSpine Holdings Corporation is headquartered in Vista, California. “

Other equities research analysts also recently issued research reports about the company. Cantor Fitzgerald reissued a buy rating and issued a $16.00 price objective on shares of SeaSpine in a report on Monday, July 30th. HC Wainwright reissued a buy rating and issued a $15.00 price objective on shares of SeaSpine in a report on Tuesday, July 31st. ValuEngine raised SeaSpine from a buy rating to a strong-buy rating in a report on Tuesday, September 11th. Piper Jaffray Companies increased their price objective on SeaSpine from $16.00 to $20.00 and gave the company an overweight rating in a report on Tuesday, October 2nd. Finally, LADENBURG THALM/SH SH set a $23.00 price objective on SeaSpine and gave the company a buy rating in a report on Wednesday, October 3rd. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. SeaSpine has a consensus rating of Buy and an average price target of $20.17.

Shares of SPNE opened at $16.30 on Friday. The company has a market cap of $284.85 million, a PE ratio of -6.32 and a beta of 0.19. SeaSpine has a twelve month low of $8.76 and a twelve month high of $18.42. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.91 and a quick ratio of 1.31.

SeaSpine (NASDAQ:SPNE) last issued its quarterly earnings results on Tuesday, November 6th. The medical equipment provider reported ($0.65) earnings per share for the quarter, missing the consensus estimate of ($0.53) by ($0.12). The business had revenue of $35.83 million for the quarter, compared to the consensus estimate of $35.56 million. SeaSpine had a negative return on equity of 30.81% and a negative net margin of 22.60%. As a group, sell-side analysts expect that SeaSpine will post -2.07 EPS for the current fiscal year.

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

A number of institutional investors have recently made changes to their positions in the business. BlackRock Inc. lifted its holdings in SeaSpine by 110.3% during the 2nd quarter. BlackRock Inc. now owns 936,948 shares of the medical equipment provider’s stock valued at $11,826,000 after purchasing an additional 491,379 shares during the last quarter. Novo Holdings A S lifted its holdings 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 valued at $11,709,000 after purchasing an additional 7,408 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in SeaSpine by 8.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 620,561 shares of the medical equipment provider’s stock valued at $9,656,000 after purchasing an additional 46,890 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in SeaSpine by 11.2% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 582,148 shares of the medical equipment provider’s stock valued at $9,058,000 after purchasing an additional 58,612 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings 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 valued at $7,669,000 after purchasing an additional 28,760 shares during the last quarter. 42.11% of the stock is owned by institutional investors and hedge funds.

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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