Mutual of America Capital Management LLC Reduces Stock Position in SeaSpine Holdings Co. (NASDAQ:SPNE)

Mutual of America Capital Management LLC trimmed its position in SeaSpine Holdings Co. (NASDAQ:SPNEGet Rating) by 35.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 383,008 shares of the medical equipment provider’s stock after selling 210,366 shares during the quarter. Mutual of America Capital Management LLC’s holdings in SeaSpine were worth $2,164,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in SPNE. Advisor Group Holdings Inc. lifted its holdings in shares of SeaSpine by 51.5% in the 1st quarter. Advisor Group Holdings Inc. now owns 48,031 shares of the medical equipment provider’s stock worth $584,000 after buying an additional 16,325 shares during the period. IndexIQ Advisors LLC lifted its holdings in shares of SeaSpine by 40.4% in the 1st quarter. IndexIQ Advisors LLC now owns 34,078 shares of the medical equipment provider’s stock worth $414,000 after buying an additional 9,808 shares during the period. GSA Capital Partners LLP lifted its holdings in shares of SeaSpine by 47.9% in the 1st quarter. GSA Capital Partners LLP now owns 52,166 shares of the medical equipment provider’s stock worth $634,000 after buying an additional 16,901 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of SeaSpine by 6.1% in the 1st quarter. JPMorgan Chase & Co. now owns 33,914 shares of the medical equipment provider’s stock worth $413,000 after buying an additional 1,946 shares during the period. Finally, Tradition Wealth Management LLC lifted its holdings in shares of SeaSpine by 77.8% in the 1st quarter. Tradition Wealth Management LLC now owns 8,000 shares of the medical equipment provider’s stock worth $97,000 after buying an additional 3,500 shares during the period. 72.07% of the stock is currently owned by hedge funds and other institutional investors.

SeaSpine Stock Up 2.0 %

Shares of NASDAQ:SPNE opened at $6.99 on Thursday. The business’s 50-day moving average is $6.24 and its 200 day moving average is $6.67. SeaSpine Holdings Co. has a 1 year low of $5.48 and a 1 year high of $15.03. The company has a quick ratio of 1.65, a current ratio of 3.18 and a debt-to-equity ratio of 0.09.

SeaSpine (NASDAQ:SPNEGet Rating) last announced its quarterly earnings data on Tuesday, November 1st. The medical equipment provider reported ($0.42) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.12). The firm had revenue of $67.15 million during the quarter, compared to analyst estimates of $66.92 million. SeaSpine had a negative net margin of 28.22% and a negative return on equity of 22.16%. On average, analysts anticipate that SeaSpine Holdings Co. will post -1.62 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have weighed in on SPNE. Truist Financial cut SeaSpine from a “buy” rating to a “hold” rating and lowered their target price for the stock from $12.00 to $6.75 in a report on Wednesday, November 2nd. StockNews.com initiated coverage on SeaSpine in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. Finally, Piper Sandler reduced their price target on SeaSpine from $21.00 to $12.00 and set an “overweight” rating for the company in a research report on Wednesday, August 3rd. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $14.95.

About SeaSpine

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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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Institutional Ownership by Quarter for SeaSpine (NASDAQ:SPNE)

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