The Manufacturers Life Insurance Company increased its stake in SeaSpine Holdings Corp (NASDAQ:SPNE) by 25.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 294,807 shares of the medical equipment provider’s stock after acquiring an additional 59,235 shares during the period. The Manufacturers Life Insurance Company owned approximately 2.20% of SeaSpine worth $2,983,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. acquired a new stake in shares of SeaSpine in the second quarter worth approximately $161,000. Trexquant Investment LP acquired a new position in SeaSpine during the third quarter valued at approximately $214,000. Northern Trust Corp lifted its position in SeaSpine by 2.3% during the second quarter. Northern Trust Corp now owns 24,869 shares of the medical equipment provider’s stock valued at $286,000 after buying an additional 559 shares in the last quarter. Macquarie Group Ltd. acquired a new position in SeaSpine during the third quarter valued at approximately $304,000. Finally, Royce & Associates LP acquired a new position in SeaSpine during the third quarter valued at approximately $481,000. 38.48% of the stock is currently owned by institutional investors and hedge funds.
SeaSpine Holdings Corp (NASDAQ SPNE) opened at $9.95 on Wednesday. SeaSpine Holdings Corp has a 12-month low of $6.31 and a 12-month high of $13.46. The company has a market cap of $129.35 and a price-to-earnings ratio of -2.19.
A number of research analysts have recently commented on SPNE shares. Ladenburg Thalmann Financial Services started coverage on shares of SeaSpine in a research report on Thursday, December 14th. They set a “buy” rating and a $20.00 target price on the stock. BTIG Research reissued a “buy” rating and set a $17.00 target price on shares of SeaSpine in a research report on Friday, March 2nd. HC Wainwright set a $15.00 target price on shares of SeaSpine and gave the stock a “buy” rating in a research report on Friday, March 2nd. Finally, Zacks Investment Research cut shares of SeaSpine from a “buy” rating to a “hold” rating in a research report on Friday, January 5th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $17.20.
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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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