SeaSpine (NASDAQ:SPNE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.

According to Zacks, “SeaSpine Holdings Corporation is a medical technology company which focused on the design, development and commercialization of surgical solutions for the treatment of spinal disorders. The company also offers orthobiologics and spinal fusion hardware solutions. SeaSpine Holdings Corporation is headquartered in Vista, California. “

Other equities research analysts have also issued research reports about the stock. HC Wainwright restated a “buy” rating and set a $15.00 price target on shares of SeaSpine in a report on Tuesday, July 31st. Cantor Fitzgerald restated a “buy” rating and set a $16.00 price target on shares of SeaSpine in a report on Monday, July 30th. LADENBURG THALM/SH SH set a $23.00 price target on shares of SeaSpine and gave the company a “buy” rating in a report on Wednesday, October 3rd. BidaskClub raised shares of SeaSpine from a “hold” rating to a “buy” rating in a research report on Saturday, October 27th. Finally, Piper Jaffray Companies boosted their price objective on shares of SeaSpine from $16.00 to $20.00 and gave the company an “overweight” rating in a research report on Tuesday, October 2nd. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. SeaSpine presently has an average rating of “Buy” and a consensus target price of $20.17.

SPNE stock opened at $15.37 on Friday. SeaSpine has a 52-week low of $8.76 and a 52-week high of $18.42. The company has a current ratio of 2.91, a quick ratio of 1.31 and a debt-to-equity ratio of 0.08. The company has a market cap of $294.30 million, a PE ratio of -5.96 and a beta of 0.19.

SeaSpine (NASDAQ:SPNE) last released its quarterly earnings results on Tuesday, November 6th. The medical equipment provider reported ($0.65) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.53) by ($0.12). SeaSpine had a negative net margin of 22.60% and a negative return on equity of 30.81%. The firm had revenue of $35.83 million for the quarter, compared to analyst estimates of $35.56 million. Equities research analysts anticipate that SeaSpine will post -1.98 EPS for the current fiscal year.

In related news, Director John B. Henneman III sold 3,407 shares of the business’s stock in a transaction that occurred on Wednesday, August 29th. The shares were sold at an average price of $14.65, for a total transaction of $49,912.55. Following the transaction, the director now directly owns 60,144 shares of the company’s stock, valued at $881,109.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John B. Henneman III sold 4,564 shares of the business’s stock in a transaction that occurred on Monday, August 27th. The shares were sold at an average price of $14.72, for a total transaction of $67,182.08. Following the transaction, the director now directly owns 60,144 shares in the company, valued at $885,319.68. The disclosure for this sale can be found here. Insiders own 13.54% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. grew its position in SeaSpine by 110.3% in the second quarter. BlackRock Inc. now owns 936,948 shares of the medical equipment provider’s stock worth $11,826,000 after acquiring an additional 491,379 shares in the last quarter. Novo Holdings A S grew its position in SeaSpine by 0.8% in the second quarter. Novo Holdings A S now owns 927,788 shares of the medical equipment provider’s stock worth $11,709,000 after acquiring an additional 7,408 shares in the last quarter. Dimensional Fund Advisors LP grew its position in SeaSpine by 8.2% in the third quarter. Dimensional Fund Advisors LP now owns 620,561 shares of the medical equipment provider’s stock worth $9,656,000 after acquiring an additional 46,890 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in SeaSpine by 11.2% in the third quarter. The Manufacturers Life Insurance Company now owns 582,148 shares of the medical equipment provider’s stock worth $9,058,000 after acquiring an additional 58,612 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its position in SeaSpine by 6.2% in the third quarter. Russell Investments Group Ltd. now owns 492,877 shares of the medical equipment provider’s stock worth $7,669,000 after acquiring an additional 28,760 shares in the last quarter. 53.08% of the stock is currently owned by hedge funds and other institutional investors.

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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