SeaSpine (NASDAQ:SPNE) PT Lowered to $21.00 at Cantor Fitzgerald

SeaSpine (NASDAQ:SPNEGet Rating) had its price objective decreased by stock analysts at Cantor Fitzgerald from $27.00 to $21.00 in a research note issued to investors on Friday, MarketBeat.com reports. The brokerage currently has an “overweight” rating on the medical equipment provider’s stock. Cantor Fitzgerald’s price target points to a potential upside of 105.68% from the company’s current price.

SPNE has been the topic of a number of other reports. Piper Sandler dropped their target price on shares of SeaSpine from $28.00 to $21.00 and set an “overweight” rating on the stock in a research note on Monday, March 14th. Zacks Investment Research downgraded shares of SeaSpine from a “buy” rating to a “hold” rating in a research note on Saturday, January 29th. Stifel Nicolaus dropped their target price on shares of SeaSpine from $18.00 to $16.00 and set a “buy” rating on the stock in a research note on Monday, March 14th. Finally, StockNews.com started coverage on shares of SeaSpine in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $30.63.

Shares of NASDAQ SPNE traded down $0.54 during mid-day trading on Friday, hitting $10.21. 89,409 shares of the company’s stock traded hands, compared to its average volume of 91,452. The company’s 50-day moving average is $11.71 and its two-hundred day moving average is $13.00. The company has a market capitalization of $375.64 million, a P/E ratio of -6.30 and a beta of 1.19. SeaSpine has a 1 year low of $10.14 and a 1 year high of $22.78.

SeaSpine (NASDAQ:SPNEGet Rating) last announced its earnings results on Friday, March 11th. The medical equipment provider reported ($0.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.36) by ($0.16). SeaSpine had a negative net margin of 28.39% and a negative return on equity of 21.26%. The business had revenue of $55.59 million for the quarter, compared to analysts’ expectations of $54.86 million. On average, equities analysts expect that SeaSpine will post -1.22 EPS for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the company. Citigroup Inc. boosted its stake in shares of SeaSpine by 135.5% in the third quarter. Citigroup Inc. now owns 3,561 shares of the medical equipment provider’s stock worth $56,000 after buying an additional 2,049 shares during the last quarter. MFA Wealth Advisors LLC purchased a new position in SeaSpine during the third quarter worth approximately $71,000. BNP Paribas Arbitrage SA boosted its position in SeaSpine by 430.6% during the third quarter. BNP Paribas Arbitrage SA now owns 6,065 shares of the medical equipment provider’s stock worth $95,000 after purchasing an additional 4,922 shares in the last quarter. Stonepine Capital Management LLC purchased a new position in SeaSpine during the third quarter worth approximately $131,000. Finally, Susquehanna International Group LLP purchased a new position in SeaSpine during the fourth quarter worth approximately $163,000. Hedge funds and other institutional investors own 87.19% of the company’s stock.

About SeaSpine (Get Rating)

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. It offers orthobiologics and spinal implant solutions for the neurosurgeons and orthopedic spine surgeons to perform fusion procedures in the lumbar, thoracic, and cervical spine.

See Also

Analyst Recommendations for SeaSpine (NASDAQ:SPNE)

Receive News & Ratings for SeaSpine Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SeaSpine and related companies with MarketBeat.com's FREE daily email newsletter.