A number of other equities research analysts have also weighed in on the company. Zacks Investment Research lowered SeaSpine from a “hold” rating to a “sell” rating in a research note on Saturday, November 2nd. ValuEngine raised SeaSpine from a “hold” rating to a “buy” rating in a research note on Friday, October 4th. Finally, BTIG Research reissued a “buy” rating and issued a $20.00 target price on shares of SeaSpine in a research note on Sunday, August 4th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $19.20.
Shares of SPNE traded up $0.12 during midday trading on Thursday, reaching $13.33. The stock had a trading volume of 599 shares, compared to its average volume of 62,156. The company’s 50-day moving average is $11.90 and its 200 day moving average is $12.73. SeaSpine has a 12-month low of $10.44 and a 12-month high of $20.75. The company has a market capitalization of $250.16 million, a price-to-earnings ratio of -6.14 and a beta of 0.20.
SeaSpine (NASDAQ:SPNE) last released its earnings results on Tuesday, October 29th. The medical equipment provider reported ($0.51) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.08). SeaSpine had a negative net margin of 26.22% and a negative return on equity of 27.36%. The company had revenue of $39.89 million during the quarter, compared to the consensus estimate of $38.48 million. As a group, equities analysts forecast that SeaSpine will post -1.79 earnings per share for the current fiscal year.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in SPNE. Panagora Asset Management Inc. bought a new position in SeaSpine during the 2nd quarter valued at approximately $157,000. GSA Capital Partners LLP bought a new position in SeaSpine during the 2nd quarter valued at approximately $174,000. Strs Ohio raised its position in SeaSpine by 7.8% during the 2nd quarter. Strs Ohio now owns 15,200 shares of the medical equipment provider’s stock valued at $201,000 after purchasing an additional 1,100 shares during the last quarter. Commonwealth Equity Services LLC raised its position in SeaSpine by 11.0% during the 3rd quarter. Commonwealth Equity Services LLC now owns 21,725 shares of the medical equipment provider’s stock valued at $265,000 after purchasing an additional 2,152 shares during the last quarter. Finally, Rhumbline Advisers raised its position in SeaSpine by 8.8% during the 3rd quarter. Rhumbline Advisers now owns 24,102 shares of the medical equipment provider’s stock valued at $294,000 after purchasing an additional 1,947 shares during the last quarter. 65.18% 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 spine.
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