SeaSpine Holdings Corp (NASDAQ:SPNE) has been assigned an average rating of “Buy” from the nine brokerages that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, one has given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $21.00.
Several equities analysts have issued reports on the stock. BidaskClub downgraded shares of SeaSpine from a “hold” rating to a “sell” rating in a research note on Thursday, January 10th. Zacks Investment Research downgraded SeaSpine from a “buy” rating to a “hold” rating in a research note on Tuesday, March 5th. Cantor Fitzgerald reiterated a “buy” rating and issued a $22.00 price objective on shares of SeaSpine in a research note on Monday, January 7th. BTIG Research restated a “buy” rating and set a $20.00 target price on shares of SeaSpine in a research report on Sunday, March 31st. Finally, Wells Fargo & Co initiated coverage on shares of SeaSpine in a report on Thursday, December 13th. They issued an “outperform” rating and a $22.00 target price on the stock.
NASDAQ SPNE traded down $0.02 during trading on Wednesday, reaching $14.15. 72,448 shares of the company’s stock were exchanged, compared to its average volume of 119,416. The company has a market capitalization of $267.53 million, a price-to-earnings ratio of -6.49 and a beta of 0.08. SeaSpine has a 1 year low of $9.85 and a 1 year high of $20.75.
In other news, Director Stuart Essig sold 33,952 shares of the company’s stock in a transaction on Friday, February 15th. The shares were sold at an average price of $16.09, for a total value of $546,287.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 74,000 shares of company stock worth $1,189,948 in the last quarter. Insiders own 13.54% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of America Corp DE boosted its holdings in SeaSpine by 3.5% in the fourth quarter. Bank of America Corp DE now owns 44,101 shares of the medical equipment provider’s stock valued at $804,000 after purchasing an additional 1,509 shares during the last quarter. American International Group Inc. raised its holdings in SeaSpine by 24.8% in the fourth quarter. American International Group Inc. now owns 9,751 shares of the medical equipment provider’s stock valued at $178,000 after acquiring an additional 1,935 shares in the last quarter. Commonwealth Equity Services LLC boosted its stake in SeaSpine by 14.0% during the 4th quarter. Commonwealth Equity Services LLC now owns 16,273 shares of the medical equipment provider’s stock valued at $296,000 after acquiring an additional 2,000 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in SeaSpine by 3.2% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 104,974 shares of the medical equipment provider’s stock valued at $1,915,000 after acquiring an additional 3,269 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY acquired a new position in SeaSpine during the 4th quarter worth $103,000. 63.46% of the stock is currently owned by institutional investors and hedge funds.
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.
Featured Story: Do back-end load funds outperform no-load funds?
Receive News & Ratings for SeaSpine Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SeaSpine and related companies with MarketBeat.com's FREE daily email newsletter.