SeaSpine Holdings Corporation (SPNE) Releases Earnings Results
SeaSpine Holdings Corporation (NASDAQ:SPNE) posted its quarterly earnings results on Thursday. The medical equipment provider reported ($0.58) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.62) by $0.04, reports. SeaSpine Holdings Corporation had a negative net margin of 27.90% and a negative return on equity of 32.86%.
A number of equities analysts have weighed in on SPNE shares. Zacks Investment Research upgraded shares of SeaSpine Holdings Corporation from a “hold” rating to a “buy” rating and set a $13.00 price target for the company in a research report on Tuesday, September 12th. Piper Jaffray Companies reiterated a “buy” rating and issued a $22.00 price target on shares of SeaSpine Holdings Corporation in a research report on Sunday, August 20th. Finally, HC Wainwright set a $15.00 price target on shares of SeaSpine Holdings Corporation and gave the stock a “buy” rating in a research report on Monday, August 7th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $16.67.
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An institutional investor recently raised its position in SeaSpine Holdings Corporation stock. Northern Trust Corp grew its position in shares of SeaSpine Holdings Corporation (NASDAQ:SPNE) by 2.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,869 shares of the medical equipment provider’s stock after purchasing an additional 559 shares during the quarter. Northern Trust Corp owned approximately 0.21% of SeaSpine Holdings Corporation worth $286,000 as of its most recent SEC filing. Institutional investors own 39.36% of the company’s stock.
SeaSpine Holdings Corporation Company Profile
SeaSpine Holdings Corporation is a medical technology company. The Company is focused on the design, development and commercialization of surgical solutions for the treatment of patients suffering from spinal disorders. The Company operates through the development, manufacture and marketing of orthobiologics and spinal fusion hardware segment.
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