SeaSpine Holdings Corp (NASDAQ:SPNE) traded up 5.6% on Monday . The company traded as high as $13.08 and last traded at $12.84. 128,315 shares traded hands during trading, a decline of 40% from the average session volume of 212,650 shares. The stock had previously closed at $12.16.
Several analysts have issued reports on the company. Cantor Fitzgerald began coverage on SeaSpine in a research note on Monday, June 15th. They issued a “buy” rating and a $18.00 price objective on the stock. BidaskClub lowered shares of SeaSpine from a “hold” rating to a “sell” rating in a research report on Friday, September 4th. BTIG Research reiterated a “buy” rating and issued a $16.00 price target on shares of SeaSpine in a research note on Tuesday, August 4th. Finally, Zacks Investment Research upgraded shares of SeaSpine from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a research report on Wednesday, August 19th. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $15.83.
The stock’s fifty day simple moving average is $12.65 and its 200-day simple moving average is $10.89. The stock has a market cap of $353.93 million, a P/E ratio of -6.63 and a beta of 1.05. The company has a debt-to-equity ratio of 0.04, a quick ratio of 3.20 and a current ratio of 4.52.
SeaSpine (NASDAQ:SPNE) last issued its quarterly earnings results on Tuesday, August 4th. The medical equipment provider reported ($0.50) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.70) by $0.20. The business had revenue of $28.59 million during the quarter, compared to analysts’ expectations of $20.90 million. SeaSpine had a negative return on equity of 29.03% and a negative net margin of 30.01%. As a group, equities research analysts forecast that SeaSpine Holdings Corp will post -1.55 earnings per share for the current year.
In other news, Director John B. Henneman III sold 10,000 shares of the company’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $15.00, for a total transaction of $150,000.00. Following the completion of the sale, the director now directly owns 60,458 shares in the company, valued at approximately $906,870. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 9.76% of the stock is owned by insiders.
Several large investors have recently modified their holdings of the company. Advisor Group Holdings Inc. acquired a new stake in shares of SeaSpine during the 1st quarter worth approximately $50,000. Citigroup Inc. lifted its stake in SeaSpine by 99.1% during the first quarter. Citigroup Inc. now owns 6,332 shares of the medical equipment provider’s stock worth $52,000 after purchasing an additional 3,151 shares during the last quarter. BNP Paribas Arbitrage SA boosted its holdings in shares of SeaSpine by 71.5% in the 1st quarter. BNP Paribas Arbitrage SA now owns 6,511 shares of the medical equipment provider’s stock valued at $53,000 after purchasing an additional 2,714 shares in the last quarter. AQR Capital Management LLC acquired a new stake in shares of SeaSpine in the 1st quarter valued at $91,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of SeaSpine in the 1st quarter valued at $92,000. Institutional investors own 78.86% of the company’s stock.
About SeaSpine (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 spine.
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