SeaSpine Holdings Corp (NASDAQ:SPNE) Shares Acquired by Squarepoint Ops LLC
Squarepoint Ops LLC increased its holdings in SeaSpine Holdings Corp (NASDAQ:SPNE) by 7.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 91,875 shares of the medical equipment provider’s stock after buying an additional 6,148 shares during the period. Squarepoint Ops LLC owned about 0.34% of SeaSpine worth $751,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also bought and sold shares of SPNE. Driehaus Capital Management LLC acquired a new position in SeaSpine during the 1st quarter valued at about $11,199,000. Silvercrest Asset Management Group LLC acquired a new position in SeaSpine during the 1st quarter valued at about $4,217,000. BlackRock Inc. boosted its stake in SeaSpine by 31.6% during the 1st quarter. BlackRock Inc. now owns 1,573,667 shares of the medical equipment provider’s stock valued at $12,856,000 after purchasing an additional 378,162 shares during the period. JPMorgan Chase & Co. boosted its stake in SeaSpine by 306.5% during the 1st quarter. JPMorgan Chase & Co. now owns 385,978 shares of the medical equipment provider’s stock valued at $3,153,000 after purchasing an additional 291,035 shares during the period. Finally, Emerald Advisers LLC acquired a new position in SeaSpine during the 1st quarter valued at about $2,255,000. 78.23% of the stock is owned by institutional investors and hedge funds.
Shares of NASDAQ:SPNE opened at $9.57 on Monday. The company has a 50 day moving average of $11.06 and a 200-day moving average of $11.81. The firm has a market cap of $260.73 million, a P/E ratio of -4.60 and a beta of 0.94. SeaSpine Holdings Corp has a twelve month low of $4.02 and a twelve month high of $16.78. The company has a current ratio of 5.90, a quick ratio of 4.30 and a debt-to-equity ratio of 0.04.
In related news, major shareholder Richard E. Caruso sold 4,921 shares of the business’s stock in a transaction that occurred on Wednesday, April 29th. The shares were sold at an average price of $10.56, for a total value of $51,965.76. Following the sale, the insider now directly owns 20,378 shares in the company, valued at approximately $215,191.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 9.76% of the stock is owned by insiders.
A number of research firms have issued reports on SPNE. Zacks Investment Research lowered shares of SeaSpine from a “buy” rating to a “hold” rating in a research note on Saturday, April 11th. Canaccord Genuity reissued a “buy” rating and set a $21.00 target price on shares of SeaSpine in a research note on Thursday, May 7th. Cantor Fitzgerald initiated coverage on shares of SeaSpine in a research note on Monday, June 15th. They set a “buy” rating and a $18.00 target price for the company. BidaskClub lowered shares of SeaSpine from a “hold” rating to a “sell” rating in a research note on Saturday, March 14th. Finally, Wells Fargo & Co raised shares of SeaSpine from an “underweight” rating to an “equal weight” rating in a research note on Sunday, April 19th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. SeaSpine currently has a consensus rating of “Buy” and a consensus price target of $17.00.
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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