Shares of SeaSpine Holdings Corp (NASDAQ:SPNE) hit a new 52-week high on Monday . The company traded as high as $14.55 and last traded at $14.16, with a volume of 477 shares changing hands. The stock had previously closed at $14.45.
SPNE has been the subject of a number of research reports. ValuEngine raised shares of SeaSpine from a “hold” rating to a “buy” rating in a report on Wednesday, May 2nd. Zacks Investment Research raised shares of SeaSpine from a “hold” rating to a “buy” rating and set a $13.00 price target for the company in a report on Thursday, May 24th. HC Wainwright set a $15.00 price target on shares of SeaSpine and gave the company a “buy” rating in a report on Friday, May 4th. Finally, Cantor Fitzgerald initiated coverage on shares of SeaSpine in a report on Thursday, May 31st. They issued an “overweight” rating and a $16.00 price target for the company. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $16.20.
The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.48 and a current ratio of 3.20.
SeaSpine (NASDAQ:SPNE) last issued its quarterly earnings results on Monday, July 30th. The medical equipment provider reported ($0.50) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.02). SeaSpine had a negative net margin of 21.75% and a negative return on equity of 27.65%. The company had revenue of $36.41 million during the quarter, compared to the consensus estimate of $34.12 million. research analysts forecast that SeaSpine Holdings Corp will post -1.95 earnings per share for the current fiscal year.
In other news, Director Stuart Essig sold 43,496 shares of the firm’s stock in a transaction dated Thursday, August 2nd. The shares were sold at an average price of $14.00, for a total transaction of $608,944.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 13.54% of the stock is currently owned by company insiders.
Several large investors have recently added to or reduced their stakes in SPNE. Northern Trust Corp lifted its holdings in shares of SeaSpine by 35.3% during the 1st quarter. Northern Trust Corp now owns 35,512 shares of the medical equipment provider’s stock worth $360,000 after acquiring an additional 9,271 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of SeaSpine by 9.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 512,823 shares of the medical equipment provider’s stock worth $5,200,000 after acquiring an additional 43,250 shares during the period. Russell Investments Group Ltd. lifted its holdings in shares of SeaSpine by 22.3% during the 1st quarter. Russell Investments Group Ltd. now owns 406,945 shares of the medical equipment provider’s stock worth $4,126,000 after acquiring an additional 74,160 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of SeaSpine by 29.8% during the 1st quarter. The Manufacturers Life Insurance Company now owns 382,698 shares of the medical equipment provider’s stock worth $3,881,000 after acquiring an additional 87,891 shares during the period. Finally, FNY Investment Advisers LLC bought a new position in shares of SeaSpine during the 2nd quarter worth about $892,000. 53.77% of the stock is owned by institutional investors.
SeaSpine Company Profile (NASDAQ:SPNE)
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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