SeaSpine (NASDAQ:SPNE) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday, Zacks.com reports.

According to Zacks, “SeaSpine Holdings Corporation is a medical technology company which focused on the design, development and commercialization of surgical solutions for the treatment of spinal disorders. The company also offers orthobiologics and spinal fusion hardware solutions. SeaSpine Holdings Corporation is headquartered in Vista, California. “

Several other research firms have also recently commented on SPNE. Wells Fargo & Co cut shares of SeaSpine from an “overweight” rating to an “underweight” rating and set a $13.00 target price for the company. in a research note on Thursday, December 12th. BidaskClub upgraded shares of SeaSpine from a “hold” rating to a “buy” rating in a research note on Friday. Finally, ValuEngine upgraded shares of SeaSpine from a “hold” rating to a “buy” rating in a research note on Friday, October 4th. Two equities research analysts have rated the stock with a sell rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $17.00.

Shares of NASDAQ SPNE traded up $0.15 during trading hours on Tuesday, hitting $15.60. 2,630 shares of the stock were exchanged, compared to its average volume of 277,184. The company’s 50 day moving average is $12.58 and its 200 day moving average is $12.27. The firm has a market capitalization of $286.77 million, a P/E ratio of -7.17 and a beta of 0.15. SeaSpine has a one year low of $10.44 and a one year high of $18.53.

SeaSpine (NASDAQ:SPNE) last posted its quarterly earnings data on Tuesday, October 29th. The medical equipment provider reported ($0.51) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.43) by ($0.08). The firm had revenue of $39.89 million for the quarter, compared to the consensus estimate of $38.48 million. SeaSpine had a negative return on equity of 27.36% and a negative net margin of 26.22%. On average, analysts anticipate that SeaSpine will post -1.79 EPS for the current year.

In other SeaSpine news, CEO Keith Valentine acquired 20,000 shares of the company’s stock in a transaction dated Friday, December 13th. The stock was bought at an average price of $11.03 per share, for a total transaction of $220,600.00. Corporate insiders own 12.47% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Commonwealth Equity Services LLC raised its stake in shares of SeaSpine by 11.0% in the 3rd quarter. Commonwealth Equity Services LLC now owns 21,725 shares of the medical equipment provider’s stock valued at $265,000 after buying an additional 2,152 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of SeaSpine by 8.8% during the third quarter. Rhumbline Advisers now owns 24,102 shares of the medical equipment provider’s stock worth $294,000 after purchasing an additional 1,947 shares during the last quarter. Monarch Partners Asset Management LLC grew its holdings in shares of SeaSpine by 24.4% during the third quarter. Monarch Partners Asset Management LLC now owns 51,737 shares of the medical equipment provider’s stock worth $632,000 after purchasing an additional 10,140 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in SeaSpine by 6.5% in the second quarter. Charles Schwab Investment Management Inc. now owns 85,856 shares of the medical equipment provider’s stock valued at $1,138,000 after acquiring an additional 5,259 shares during the last quarter. Finally, River & Mercantile Asset Management LLP bought a new stake in SeaSpine in the second quarter valued at approximately $1,512,000. Institutional investors own 65.29% 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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