Acadian Asset Management LLC Purchases 14,320 Shares of SeaSpine Holdings Corp (SPNE)

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Acadian Asset Management LLC raised its position in SeaSpine Holdings Corp (NASDAQ:SPNE) by 19.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 87,311 shares of the medical equipment provider’s stock after acquiring an additional 14,320 shares during the quarter. Acadian Asset Management LLC owned 0.59% of SeaSpine worth $1,358,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Rhumbline Advisers acquired a new stake in SeaSpine in the second quarter valued at approximately $134,000. Northern Trust Corp grew its position in SeaSpine by 35.3% in the first quarter. Northern Trust Corp now owns 35,512 shares of the medical equipment provider’s stock valued at $360,000 after acquiring an additional 9,271 shares in the last quarter. Bank of New York Mellon Corp grew its position in SeaSpine by 261.4% in the second quarter. Bank of New York Mellon Corp now owns 37,185 shares of the medical equipment provider’s stock valued at $470,000 after acquiring an additional 26,895 shares in the last quarter. Schwab Charles Investment Management Inc. grew its position in SeaSpine by 99.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 46,267 shares of the medical equipment provider’s stock valued at $584,000 after acquiring an additional 23,090 shares in the last quarter. Finally, Wedge Capital Management L L P NC acquired a new stake in SeaSpine in the second quarter valued at approximately $734,000. 53.08% of the stock is owned by institutional investors.

In other news, Director John B. Henneman III sold 4,564 shares of the stock in a transaction that occurred on Monday, August 27th. The stock was sold at an average price of $14.72, for a total transaction of $67,182.08. Following the completion of the transaction, the director now directly owns 60,144 shares in the company, valued at approximately $885,319.68. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director John B. Henneman III sold 3,407 shares of the stock in a transaction that occurred on Wednesday, August 29th. The shares were sold at an average price of $14.65, for a total value of $49,912.55. Following the transaction, the director now owns 60,144 shares of the company’s stock, valued at $881,109.60. The disclosure for this sale can be found here. Corporate insiders own 13.54% of the company’s stock.

Several analysts have issued reports on SPNE shares. HC Wainwright reaffirmed a “buy” rating and issued a $15.00 price objective on shares of SeaSpine in a research report on Tuesday, July 31st. Cantor Fitzgerald reiterated a “buy” rating and set a $16.00 target price on shares of SeaSpine in a research note on Monday, July 30th. LADENBURG THALM/SH SH set a $23.00 target price on SeaSpine and gave the company a “buy” rating in a research note on Wednesday, October 3rd. Zacks Investment Research upgraded SeaSpine from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a research note on Saturday. Finally, BidaskClub upgraded SeaSpine from a “hold” rating to a “buy” rating in a research note on Saturday, October 27th. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. SeaSpine presently has a consensus rating of “Buy” and an average price target of $20.17.

SeaSpine stock opened at $16.13 on Wednesday. The company has a market cap of $321.54 million, a PE ratio of -6.25 and a beta of 0.19. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.91 and a quick ratio of 1.31. SeaSpine Holdings Corp has a 52 week low of $8.76 and a 52 week high of $18.42.

SeaSpine (NASDAQ:SPNE) last released its earnings results on Tuesday, November 6th. The medical equipment provider reported ($0.65) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.53) by ($0.12). The business had revenue of $35.83 million for the quarter, compared to analysts’ expectations of $35.56 million. SeaSpine had a negative net margin of 22.60% and a negative return on equity of 30.81%. As a group, analysts forecast that SeaSpine Holdings Corp will post -1.94 earnings per share for the current year.

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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.

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Institutional Ownership by Quarter for SeaSpine (NASDAQ:SPNE)

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