Assenagon Asset Management S.A. Buys 10,039 Shares of SeaSpine Holdings Co. (NASDAQ:SPNE)

Assenagon Asset Management S.A. grew its stake in shares of SeaSpine Holdings Co. (NASDAQ:SPNEGet Rating) by 9.4% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 116,695 shares of the medical equipment provider’s stock after acquiring an additional 10,039 shares during the period. Assenagon Asset Management S.A.’s holdings in SeaSpine were worth $663,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of SPNE. Emerald Mutual Fund Advisers Trust lifted its stake in SeaSpine by 6.2% in the 2nd quarter. Emerald Mutual Fund Advisers Trust now owns 798,015 shares of the medical equipment provider’s stock worth $4,509,000 after purchasing an additional 46,743 shares in the last quarter. HighMark Wealth Management LLC raised its position in shares of SeaSpine by 0.7% in the second quarter. HighMark Wealth Management LLC now owns 310,659 shares of the medical equipment provider’s stock worth $1,755,000 after buying an additional 2,040 shares in the last quarter. SG Americas Securities LLC bought a new stake in SeaSpine during the second quarter valued at $71,000. Bank of Montreal Can bought a new position in SeaSpine in the 2nd quarter worth about $75,000. Finally, AQR Capital Management LLC purchased a new stake in shares of SeaSpine in the 2nd quarter valued at about $60,000. 70.81% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on SPNE shares. StockNews.com started coverage on shares of SeaSpine in a research report on Friday. They issued a “hold” rating on the stock. Truist Financial cut shares of SeaSpine from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $12.00 to $6.75 in a research report on Wednesday, November 2nd. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $14.95.

Insider Buying and Selling at SeaSpine

In other SeaSpine news, Director Shweta Maniar sold 3,786 shares of the stock in a transaction that occurred on Thursday, December 29th. The shares were sold at an average price of $8.00, for a total transaction of $30,288.00. Following the transaction, the director now directly owns 23,993 shares in the company, valued at $191,944. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 9.32% of the company’s stock.

SeaSpine Stock Up 8.3 %

SPNE stock opened at $9.54 on Tuesday. SeaSpine Holdings Co. has a 1-year low of $5.48 and a 1-year high of $14.23. The company has a current ratio of 3.18, a quick ratio of 1.65 and a debt-to-equity ratio of 0.09. The company’s 50 day moving average is $7.71 and its 200 day moving average is $6.76. The stock has a market cap of $354.92 million, a price-to-earnings ratio of -5.39 and a beta of 1.31.

SeaSpine (NASDAQ:SPNEGet Rating) last issued its quarterly earnings results on Tuesday, November 1st. The medical equipment provider reported ($0.42) EPS for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.12). SeaSpine had a negative net margin of 28.22% and a negative return on equity of 22.16%. The business had revenue of $67.15 million for the quarter, compared to the consensus estimate of $66.92 million. Sell-side analysts predict that SeaSpine Holdings Co. will post -1.62 EPS for the current fiscal year.

SeaSpine Company Profile

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As of January 4, 2023, SeaSpine Holdings Corporation was acquired by Orthofix Medical Inc 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.

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Want to see what other hedge funds are holding SPNE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SeaSpine Holdings Co. (NASDAQ:SPNEGet Rating).

Institutional Ownership by Quarter for SeaSpine (NASDAQ:SPNE)

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