23,400 Shares in SeaSpine Holdings Corp (NASDAQ:SPNE) Acquired by Mackay Shields LLC

Mackay Shields LLC bought a new stake in SeaSpine Holdings Corp (NASDAQ:SPNE) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 23,400 shares of the medical equipment provider’s stock, valued at approximately $426,000. Mackay Shields LLC owned 0.13% of SeaSpine at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. American International Group Inc. lifted its position in SeaSpine by 24.8% in the fourth quarter. American International Group Inc. now owns 9,751 shares of the medical equipment provider’s stock worth $178,000 after purchasing an additional 1,935 shares during the period. Geode Capital Management LLC lifted its holdings in shares of SeaSpine by 42.7% during the fourth quarter. Geode Capital Management LLC now owns 148,460 shares of the medical equipment provider’s stock valued at $2,706,000 after acquiring an additional 44,407 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of SeaSpine by 1.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 628,605 shares of the medical equipment provider’s stock valued at $11,466,000 after acquiring an additional 8,044 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of SeaSpine by 3.2% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 104,974 shares of the medical equipment provider’s stock valued at $1,915,000 after acquiring an additional 3,269 shares during the period. Finally, Northern Trust Corp lifted its holdings in shares of SeaSpine by 27.1% during the fourth quarter. Northern Trust Corp now owns 182,991 shares of the medical equipment provider’s stock valued at $3,338,000 after acquiring an additional 39,068 shares during the period. Institutional investors and hedge funds own 63.46% of the company’s stock.

Shares of SeaSpine stock traded down $0.20 during trading on Wednesday, reaching $14.16. The company’s stock had a trading volume of 86,488 shares, compared to its average volume of 92,546. SeaSpine Holdings Corp has a one year low of $10.27 and a one year high of $20.75. The stock has a market capitalization of $267.57 million, a price-to-earnings ratio of -6.50 and a beta of 0.08.

SeaSpine (NASDAQ:SPNE) last announced its quarterly earnings data on Wednesday, February 27th. The medical equipment provider reported ($0.53) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.33) by ($0.20). The firm had revenue of $38.03 million during the quarter. SeaSpine had a negative return on equity of 30.10% and a negative net margin of 23.37%. Equities analysts predict that SeaSpine Holdings Corp will post -1.6 EPS for the current fiscal year.

SPNE has been the subject of a number of analyst reports. ValuEngine cut SeaSpine from a “strong-buy” rating to a “buy” rating in a report on Thursday, April 11th. Cantor Fitzgerald reissued a “buy” rating and set a $22.00 price objective on shares of SeaSpine in a report on Monday, January 7th. BidaskClub cut SeaSpine from a “hold” rating to a “sell” rating in a report on Tuesday, March 5th. Zacks Investment Research cut SeaSpine from a “buy” rating to a “hold” rating in a report on Tuesday, March 5th. Finally, BTIG Research reissued a “buy” rating and set a $20.00 price objective on shares of SeaSpine in a report on Sunday, March 31st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $20.86.

In related news, Director Stuart Essig sold 8,900 shares of SeaSpine stock in a transaction dated Monday, February 11th. The stock was sold at an average price of $16.01, for a total value of $142,489.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Over the last quarter, insiders sold 74,000 shares of company stock valued at $1,189,948. Corporate insiders own 13.54% of the company’s stock.

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SeaSpine 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 spine.

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Institutional Ownership by Quarter for SeaSpine (NASDAQ:SPNE)

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