SeaSpine (SPNE) Upgraded to “Sell” by BidaskClub

SeaSpine (NASDAQ:SPNE) was upgraded by research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research report issued on Wednesday, BidAskClub reports.

Other equities research analysts also recently issued research reports about the company. ValuEngine downgraded SeaSpine from a “strong-buy” rating to a “buy” rating in a report on Thursday, April 11th. BTIG Research reissued a “buy” rating and issued a $20.00 price objective on shares of SeaSpine in a report on Sunday, March 31st. Zacks Investment Research downgraded SeaSpine from a “buy” rating to a “hold” rating in a report on Tuesday, March 5th. Finally, Cantor Fitzgerald reissued a “buy” rating and issued a $22.00 price objective on shares of SeaSpine in a report on Monday, January 7th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $20.86.

NASDAQ:SPNE traded up $0.05 during trading hours on Wednesday, reaching $14.41. 1,510 shares of the stock were exchanged, compared to its average volume of 92,559. SeaSpine has a twelve month low of $10.27 and a twelve month high of $20.75. The company has a market cap of $274.37 million, a P/E ratio of -6.61 and a beta of 0.08.

SeaSpine (NASDAQ:SPNE) last released its quarterly earnings data on Wednesday, February 27th. The medical equipment provider reported ($0.53) EPS for the quarter, missing the consensus estimate of ($0.33) by ($0.20). The company had revenue of $38.03 million during the quarter. SeaSpine had a negative net margin of 23.37% and a negative return on equity of 30.10%. As a group, research analysts forecast that SeaSpine will post -1.6 EPS for the current year.

In related news, Director Stuart Essig sold 8,900 shares of the stock in a transaction on Monday, February 11th. The stock was sold at an average price of $16.01, for a total value of $142,489.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last 90 days, insiders sold 74,000 shares of company stock worth $1,189,948. 13.54% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Meeder Asset Management Inc. raised its stake in SeaSpine by 406.2% in the 1st quarter. Meeder Asset Management Inc. now owns 2,374 shares of the medical equipment provider’s stock valued at $35,000 after acquiring an additional 1,905 shares during the period. Metropolitan Life Insurance Co. NY bought a new stake in SeaSpine in the 4th quarter valued at $103,000. Strs Ohio bought a new stake in SeaSpine in the 4th quarter valued at $107,000. MetLife Investment Advisors LLC bought a new stake in SeaSpine in the 4th quarter valued at $141,000. Finally, American International Group Inc. raised its stake in SeaSpine by 24.8% in the 4th quarter. American International Group Inc. now owns 9,751 shares of the medical equipment provider’s stock valued at $178,000 after acquiring an additional 1,935 shares during the period. Institutional investors and hedge funds own 63.46% of the company’s stock.

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 spine.

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Analyst Recommendations for SeaSpine (NASDAQ:SPNE)

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