SeaSpine Holdings Co. (NASDAQ:SPNE) Receives an Average “Moderate Buy” Recommendation from Brokerages
Shares of SeaSpine Holdings Co. (NASDAQ: SPNE – Get a rating) earned an average recommendation of “moderate buy” from the eight research companies that currently cover the business, reports Marketbeat Ratings. One equity research analyst gave the stock a hold rating and five gave the company a buy rating. The 12-month average price target among analysts who have reported on the stock in the past year is $30.00.
A number of research companies have recently published reports on NBS. Piper Sandler lowered its price target on SeaSpine from $21.00 to $12.00 and set an “overweight” rating on the stock in a Wednesday, Aug. 3 research report. BTIG Research lowered its target price on SeaSpine from $23.00 to $19.00 in a research report Thursday, June 30. StockNews.com upgraded SeaSpine from a “sell” rating to a “hold” rating in a Thursday, August 4, research report. Finally, Truist Financial lowered its price target on SeaSpine from $20.00 to $12.00 and set a “buy” rating on the stock in a Wednesday, July 20 research report.
SeaSpine Share Performance
SeaSpine shares opened at $6.43 on Friday. The company has a market capitalization of $239.12 million, a price-earnings ratio of -3.51 and a beta of 1.39. The stock’s 50-day moving average is $6.36 and its 200-day moving average is $8.79. SeaSpine has a one-year low of $5.54 and a one-year high of $17.34. The company has a debt ratio of 0.09, a current ratio of 3.49 and a quick ratio of 1.91.
SeaSpine (NASDAQ: SPNE – Get a rating) last reported results on Tuesday, August 2. The medical equipment supplier reported ($0.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.03). The company posted revenue of $56.32 million in the quarter, compared to analyst estimates of $54.34 million. SeaSpine had a negative net margin of 32.03% and a negative return on equity of 21.90%. During the same period of the previous year, the company posted an EPS of ($0.34). Stock analysts predict SeaSpine will post -1.47 earnings per share for the current fiscal year.
Insiders place their bets
In other SeaSpine news, an insider Beautiful Standish sold 50,000 shares of the company in a transaction that took place on Thursday, July 14. The stock was sold at an average price of $5.73, for a total transaction of $286,500.00. The sale was disclosed in a filing with the SEC, accessible via the SEC website. Insiders of the company own 9.32% of the shares of the company.
Hedge funds weigh on SeaSpine
Institutional investors and hedge funds have recently changed their positions in the company. BNP Paribas Arbitrage SA increased its position in SeaSpine shares by 188.0% in the second quarter. BNP Paribas Arbitrage SA now owns 7,913 shares of the medical equipment supplier valued at $45,000 after buying an additional 5,165 shares in the last quarter. Amalgamated Bank purchased a new equity stake in SeaSpine in the first quarter worth approximately $55,000. AQR Capital Management LLC purchased a new equity stake in SeaSpine in the second quarter worth approximately $60,000. SG Americas Securities LLC purchased a new equity stake in SeaSpine in the second quarter valued at approximately $71,000. Finally, Bank of Montreal Can bought a new equity stake in SeaSpine in the second quarter valued at around $75,000. Institutional investors and hedge funds hold 72.07% of the company’s shares.
SeaSpine Company Profile
SeaSpine Holdings Corporation, a medical technology company, is focused on designing, developing and marketing surgical solutions for the treatment of spinal disorders in the United States and around the world. It offers orthobiologic and spinal implant solutions to neurosurgeons and orthopedic spine surgeons to perform fusion procedures in the lumbar, thoracic and cervical spine.
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