Zacks Investment Research upgraded shares of SeaSpine (NASDAQ:SPNE) from a hold rating to a buy rating in a report released on Saturday, Zacks.com reports. The firm currently has $18.00 target price on the medical equipment provider’s stock.

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. “

Several other research analysts have also recently issued reports on SPNE. ValuEngine upgraded SeaSpine from a hold rating to a buy rating in a research report on Friday, October 4th. Wells Fargo & Co cut SeaSpine from an overweight rating to an underweight rating and set a $13.00 price objective for the company. in a research report on Thursday, December 12th. Finally, BidaskClub upgraded SeaSpine from a hold rating to a buy rating in a research report on Friday, January 10th. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. SeaSpine presently has an average rating of Buy and an average target price of $18.25.

NASDAQ:SPNE opened at $15.89 on Friday. The stock has a fifty day moving average price of $13.02 and a two-hundred day moving average price of $12.38. The stock has a market capitalization of $302.97 million, a price-to-earnings ratio of -7.36 and a beta of 0.15. SeaSpine has a 1 year low of $10.44 and a 1 year high of $18.53.

SeaSpine (NASDAQ:SPNE) last released its quarterly earnings data on Tuesday, October 29th. The medical equipment provider reported ($0.51) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.43) by ($0.08). The business had revenue of $39.89 million during the quarter, compared to analysts’ expectations of $38.48 million. SeaSpine had a negative return on equity of 27.36% and a negative net margin of 26.22%. Sell-side analysts anticipate that SeaSpine will post -1.8 EPS for the current fiscal year.

In other news, CEO Keith Valentine purchased 20,000 shares of the company’s stock in a transaction dated Friday, December 13th. The stock was acquired at an average price of $11.03 per share, for a total transaction of $220,600.00. Company insiders own 12.47% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Commonwealth Equity Services LLC increased its position in shares of SeaSpine by 11.0% in the third quarter. Commonwealth Equity Services LLC now owns 21,725 shares of the medical equipment provider’s stock valued at $265,000 after buying an additional 2,152 shares in the last quarter. Rhumbline Advisers increased its position in shares of SeaSpine by 8.8% in the third quarter. Rhumbline Advisers now owns 24,102 shares of the medical equipment provider’s stock valued at $294,000 after buying an additional 1,947 shares in the last quarter. Monarch Partners Asset Management LLC increased its position in shares of SeaSpine by 24.4% in the third quarter. Monarch Partners Asset Management LLC now owns 51,737 shares of the medical equipment provider’s stock valued at $632,000 after buying an additional 10,140 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of SeaSpine by 6.5% in the second quarter. Charles Schwab Investment Management Inc. now owns 85,856 shares of the medical equipment provider’s stock valued at $1,138,000 after buying an additional 5,259 shares in the last quarter. Finally, River & Mercantile Asset Management LLP purchased a new position in shares of SeaSpine in the second quarter valued at $1,512,000. Institutional investors and hedge funds own 65.20% of the company’s stock.

SeaSpine Company Profile

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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