SeaSpine (NASDAQ:SPNE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.

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 brokerages also recently issued reports on SPNE. HC Wainwright reissued a “buy” rating and set a $15.00 price objective on shares of SeaSpine in a research report on Friday, November 3rd. Ladenburg Thalmann Financial Services initiated coverage on shares of SeaSpine in a research report on Thursday, December 14th. They set a “buy” rating and a $20.00 price objective for the company. Finally, BTIG Research reissued a “buy” rating on shares of SeaSpine in a research report on Monday, November 6th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. SeaSpine currently has a consensus rating of “Buy” and an average target price of $17.25.

Shares of SeaSpine (SPNE) traded up $0.01 during mid-day trading on Friday, hitting $10.13. 5,457 shares of the stock traded hands, compared to its average volume of 21,250. SeaSpine has a 52 week low of $6.31 and a 52 week high of $13.46. The company has a market capitalization of $136.04, a P/E ratio of -3.47 and a beta of 0.10.

Hedge funds have recently modified their holdings of the company. Synovus Financial Corp bought a new stake in shares of SeaSpine during the second quarter worth $116,000. Virtu KCG Holdings LLC bought a new stake in shares of SeaSpine during the second quarter worth $133,000. Goldman Sachs Group Inc. bought a new stake in shares of SeaSpine during the second quarter worth $161,000. Schwab Charles Investment Management Inc. boosted its holdings in SeaSpine by 1.0% during the second quarter. Schwab Charles Investment Management Inc. now owns 18,707 shares of the medical equipment provider’s stock worth $216,000 after purchasing an additional 190 shares during the last quarter. Finally, Trexquant Investment LP acquired a new position in SeaSpine during the third quarter worth $214,000. 43.35% of the stock is owned by institutional investors.

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SeaSpine 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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