SeaSpine (SPNE) Given a $19.00 Price Target at HC Wainwright

HC Wainwright set a $19.00 target price on SeaSpine (NASDAQ:SPNE) in a report published on Thursday morning, The Fly reports. The brokerage currently has a buy rating on the medical equipment provider’s stock.

SPNE has been the topic of a number of other reports. Zacks Investment Research lowered SeaSpine from a buy rating to a hold rating in a report on Friday, October 5th. Cantor Fitzgerald reissued an overweight rating and set a $22.00 target price on shares of SeaSpine in a report on Thursday, October 4th. LADENBURG THALM/SH SH set a $23.00 target price on SeaSpine and gave the stock a buy rating in a report on Wednesday, October 3rd. BidaskClub raised SeaSpine from a hold rating to a buy rating in a report on Saturday, October 27th. Finally, Piper Jaffray Companies boosted their target price on SeaSpine from $16.00 to $20.00 and gave the stock an overweight rating in a report on Tuesday, October 2nd. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of Buy and a consensus price target of $19.00.

Shares of NASDAQ:SPNE traded down $0.41 during trading on Thursday, hitting $17.35. 111,394 shares of the company were exchanged, compared to its average volume of 62,950. The firm has a market capitalization of $257.27 million, a price-to-earnings ratio of -6.72 and a beta of 0.19. SeaSpine has a fifty-two week low of $8.76 and a fifty-two week high of $18.42. 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 (NASDAQ:SPNE) last posted its quarterly earnings results 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). The company had revenue of $35.83 million for the quarter, compared to analyst estimates of $35.56 million. SeaSpine had a negative return on equity of 30.02% and a negative net margin of 22.60%. As a group, analysts anticipate that SeaSpine will post -1.95 earnings per share for the current year.

In related news, Director John B. Henneman III sold 4,564 shares of the business’s stock in a transaction on Monday, August 27th. The stock was sold at an average price of $14.72, for a total value of $67,182.08. Following the completion of the sale, the director now directly owns 60,144 shares in the company, valued at approximately $885,319.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through 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 shares were sold at an average price of $14.65, for a total value of $49,912.55. Following the completion of the sale, the director now owns 60,144 shares of the company’s stock, valued at $881,109.60. The disclosure for this sale can be found here. 13.54% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in SeaSpine by 110.3% in 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 period. Novo Holdings A S boosted its stake in SeaSpine by 0.8% in 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 period. Dimensional Fund Advisors LP boosted its stake in SeaSpine by 11.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 573,671 shares of the medical equipment provider’s stock valued at $7,240,000 after purchasing an additional 60,848 shares during the period. Russell Investments Group Ltd. boosted its stake in SeaSpine by 6.2% in 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 period. Finally, Renaissance Technologies LLC boosted its stake in SeaSpine by 5.9% in the 2nd quarter. Renaissance Technologies LLC now owns 458,000 shares of the medical equipment provider’s stock valued at $5,780,000 after purchasing an additional 25,608 shares during the period. Institutional investors and hedge funds own 52.97% of the company’s stock.

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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