SeaSpine (NASDAQ:SPNE) PT Lowered to $12.00

SeaSpine (NASDAQ:SPNEGet Rating) had its price target cut by stock analysts at Piper Sandler from $21.00 to $12.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the medical equipment provider’s stock. Piper Sandler’s target price indicates a potential upside of 82.09% from the company’s current price.

A number of other research analysts have also weighed in on the stock. StockNews.com lowered shares of SeaSpine from a “hold” rating to a “sell” rating in a research note on Saturday, July 23rd. Cantor Fitzgerald lowered their target price on shares of SeaSpine from $27.00 to $21.00 and set an “overweight” rating for the company in a report on Friday, April 22nd. BTIG Research lowered their target price on shares of SeaSpine from $23.00 to $19.00 in a report on Thursday, June 30th. Finally, Truist Financial lowered their target price on shares of SeaSpine from $20.00 to $12.00 and set a “buy” rating for the company in a report on Wednesday, July 20th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.00.

SeaSpine Trading Up 2.2 %

SeaSpine stock opened at $6.59 on Wednesday. SeaSpine has a 1-year low of $5.54 and a 1-year high of $17.34. The firm has a market capitalization of $242.51 million, a price-to-earnings ratio of -3.60 and a beta of 1.39. The firm’s fifty day moving average price is $6.52 and its two-hundred day moving average price is $9.44.

SeaSpine (NASDAQ:SPNEGet Rating) last released its quarterly earnings data on Tuesday, August 2nd. The medical equipment provider reported ($0.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.03). SeaSpine had a negative net margin of 32.03% and a negative return on equity of 21.46%. During the same quarter in the prior year, the business earned ($0.34) earnings per share. On average, research analysts forecast that SeaSpine will post -1.39 EPS for the current year.

Insider Buying and Selling

In related news, insider Beau Standish sold 50,000 shares of the firm’s stock in a transaction dated Thursday, July 14th. The shares were sold at an average price of $5.73, for a total transaction of $286,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 9.32% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On SeaSpine

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Northern Trust Corp boosted its position in SeaSpine by 0.7% during the fourth quarter. Northern Trust Corp now owns 344,356 shares of the medical equipment provider’s stock worth $4,690,000 after purchasing an additional 2,539 shares during the period. Monarch Partners Asset Management LLC boosted its position in SeaSpine by 9.3% during the fourth quarter. Monarch Partners Asset Management LLC now owns 124,701 shares of the medical equipment provider’s stock worth $1,698,000 after purchasing an additional 10,633 shares during the period. First Eagle Investment Management LLC boosted its position in SeaSpine by 108.2% during the fourth quarter. First Eagle Investment Management LLC now owns 59,655 shares of the medical equipment provider’s stock worth $813,000 after purchasing an additional 31,000 shares during the period. GW&K Investment Management LLC boosted its position in SeaSpine by 289.3% during the fourth quarter. GW&K Investment Management LLC now owns 374,093 shares of the medical equipment provider’s stock worth $5,095,000 after purchasing an additional 277,996 shares during the period. Finally, Advisor Group Holdings Inc. boosted its position in SeaSpine by 19.6% during the fourth quarter. Advisor Group Holdings Inc. now owns 31,706 shares of the medical equipment provider’s stock worth $432,000 after purchasing an additional 5,185 shares during the period. Institutional investors own 73.10% of the company’s stock.

SeaSpine Company Profile

(Get Rating)

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. It offers 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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