SeaSpine (NASDAQ:SPNE) Lifted to Buy at ValuEngine

SeaSpine (NASDAQ:SPNE) was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued on Tuesday, May 8th.

A number of other analysts have also issued reports on the company. Zacks Investment Research lowered SeaSpine from a “buy” rating to a “hold” rating in a research note on Saturday, May 5th. HC Wainwright set a $15.00 price objective on SeaSpine and gave the stock a “buy” rating in a research note on Friday, May 4th. Finally, BTIG Research reaffirmed a “buy” rating and issued a $17.00 price target on shares of SeaSpine in a research note on Friday, March 2nd. Six investment analysts have rated the stock with a buy rating, The company has a consensus rating of “Buy” and an average price target of $17.20.

Shares of SPNE stock opened at $12.03 on Tuesday. SeaSpine has a 1-year low of $12.02 and a 1-year high of $12.35.

SeaSpine (NASDAQ:SPNE) last announced its quarterly earnings data on Thursday, May 3rd. The medical equipment provider reported ($0.50) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.53) by $0.03. The firm had revenue of $33.18 million during the quarter, compared to analysts’ expectations of $32.75 million. SeaSpine had a negative return on equity of 28.04% and a negative net margin of 22.63%. equities research analysts predict that SeaSpine will post -1.84 earnings per share for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in SPNE. Northern Trust Corp lifted its position in SeaSpine by 35.3% during the 1st quarter. Northern Trust Corp now owns 35,512 shares of the medical equipment provider’s stock worth $360,000 after acquiring an additional 9,271 shares during the period. Royce & Associates LP raised its stake in shares of SeaSpine by 21.7% during the 4th quarter. Royce & Associates LP now owns 52,199 shares of the medical equipment provider’s stock worth $528,000 after buying an additional 9,311 shares in the last quarter. Hodges Capital Management Inc. raised its stake in shares of SeaSpine by 11.1% during the 4th quarter. Hodges Capital Management Inc. now owns 200,000 shares of the medical equipment provider’s stock worth $2,024,000 after buying an additional 20,000 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of SeaSpine by 9.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 512,823 shares of the medical equipment provider’s stock worth $5,200,000 after buying an additional 43,250 shares in the last quarter. Finally, FNY Partners Fund LP raised its stake in shares of SeaSpine by 73.4% during the 4th quarter. FNY Partners Fund LP now owns 102,500 shares of the medical equipment provider’s stock worth $1,037,000 after buying an additional 43,398 shares in the last quarter. 38.55% of the stock is owned by hedge funds and other institutional investors.

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 regions of the spine.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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