Renaissance Technologies LLC raised its position in SeaSpine Holdings Corp (NASDAQ:SPNE) by 5.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 458,000 shares of the medical equipment provider’s stock after purchasing an additional 25,608 shares during the quarter. Renaissance Technologies LLC owned about 3.11% of SeaSpine worth $5,780,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Rhumbline Advisers acquired a new position in SeaSpine in the 2nd quarter valued at about $134,000. Northern Trust Corp boosted its holdings in SeaSpine by 35.3% in the 1st quarter. Northern Trust Corp now owns 35,512 shares of the medical equipment provider’s stock valued at $360,000 after purchasing an additional 9,271 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in SeaSpine by 261.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 37,185 shares of the medical equipment provider’s stock valued at $470,000 after purchasing an additional 26,895 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in SeaSpine by 99.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 46,267 shares of the medical equipment provider’s stock valued at $584,000 after purchasing an additional 23,090 shares during the last quarter. Finally, Wedge Capital Management L L P NC acquired a new position in SeaSpine in the 2nd quarter valued at about $734,000. Institutional investors own 53.39% of the company’s stock.
Several equities analysts have weighed in on SPNE shares. ValuEngine upgraded shares of SeaSpine from a “buy” rating to a “strong-buy” rating in a report on Tuesday, September 11th. Zacks Investment Research lowered shares of SeaSpine from a “buy” rating to a “hold” rating in a report on Friday, October 5th. LADENBURG THALM/SH SH set a $23.00 price objective on shares of SeaSpine and gave the stock a “buy” rating in a report on Wednesday, October 3rd. Cantor Fitzgerald restated an “overweight” rating and issued a $22.00 price objective on shares of SeaSpine in a report on Thursday, October 4th. Finally, Piper Jaffray Companies upped their price objective on shares of SeaSpine from $16.00 to $20.00 and gave the stock an “overweight” rating in a report on Tuesday, October 2nd. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. SeaSpine has an average rating of “Buy” and a consensus price target of $18.33.
In other SeaSpine news, Director Stuart Essig sold 43,496 shares of the stock in a transaction that occurred on Thursday, August 2nd. The shares were sold at an average price of $14.00, for a total transaction of $608,944.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John B. Henneman III sold 4,564 shares of the stock in a transaction that occurred on Monday, August 27th. The stock was sold at an average price of $14.72, for a total transaction of $67,182.08. Following the sale, the director now owns 60,144 shares in the company, valued at $885,319.68. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 51,467 shares of company stock worth $726,039. Company insiders own 13.54% of the company’s stock.
Shares of SPNE stock opened at $16.10 on Friday. The company has a current ratio of 3.20, a quick ratio of 1.48 and a debt-to-equity ratio of 0.04. SeaSpine Holdings Corp has a one year low of $8.76 and a one year high of $18.42. The company has a market capitalization of $229.40 million, a PE ratio of -6.43 and a beta of 0.46.
SeaSpine (NASDAQ:SPNE) last issued its quarterly earnings data on Monday, July 30th. The medical equipment provider reported ($0.50) EPS for the quarter, missing the consensus estimate of ($0.48) by ($0.02). SeaSpine had a negative return on equity of 27.65% and a negative net margin of 21.75%. The company had revenue of $36.41 million during the quarter, compared to analyst estimates of $34.12 million. Equities analysts expect that SeaSpine Holdings Corp will post -1.95 earnings per share for the current year.
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 regions of the spine.
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