Falcon Point Capital LLC boosted its holdings in shares of SeaSpine Holdings Corp (NASDAQ:SPNE) by 0.8% in the second quarter, according to its most recent filing with the SEC. The firm owned 255,764 shares of the medical equipment provider’s stock after acquiring an additional 1,906 shares during the period. SeaSpine accounts for 1.8% of Falcon Point Capital LLC’s portfolio, making the stock its 23rd largest position. Falcon Point Capital LLC owned 1.35% of SeaSpine worth $3,389,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in SPNE. Meeder Asset Management Inc. lifted its position in SeaSpine by 406.2% during the 1st quarter. Meeder Asset Management Inc. now owns 2,374 shares of the medical equipment provider’s stock worth $35,000 after buying an additional 1,905 shares in the last quarter. BNP Paribas Arbitrage SA grew its stake in SeaSpine by 546.4% in the 1st quarter. BNP Paribas Arbitrage SA now owns 3,077 shares of the medical equipment provider’s stock valued at $46,000 after buying an additional 2,601 shares during the last quarter. Marshall Wace North America L.P. acquired a new position in SeaSpine in the 1st quarter valued at about $91,000. Metropolitan Life Insurance Co. NY acquired a new position in SeaSpine in the 4th quarter valued at about $103,000. Finally, MetLife Investment Advisors LLC acquired a new position in SeaSpine in the 4th quarter valued at about $141,000. 64.67% of the stock is owned by hedge funds and other institutional investors.
SPNE opened at $10.70 on Friday. SeaSpine Holdings Corp has a twelve month low of $10.50 and a twelve month high of $20.75. The stock has a market cap of $215.32 million, a PE ratio of -4.91 and a beta of 0.11. The company has a fifty day moving average of $12.65 and a 200-day moving average of $14.12.
SeaSpine (NASDAQ:SPNE) last released its quarterly earnings data on Thursday, August 1st. The medical equipment provider reported ($0.38) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.03. SeaSpine had a negative net margin of 26.84% and a negative return on equity of 28.45%. The firm had revenue of $39.31 million for the quarter, compared to analyst estimates of $38.95 million. On average, equities research analysts anticipate that SeaSpine Holdings Corp will post -1.79 EPS for the current fiscal year.
A number of research analysts recently commented on the stock. ValuEngine lowered shares of SeaSpine from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. BTIG Research reissued a “buy” rating and issued a $20.00 price objective on shares of SeaSpine in a report on Sunday, August 4th. BidaskClub raised shares of SeaSpine from a “sell” rating to a “hold” rating in a report on Tuesday, May 7th. Finally, Cantor Fitzgerald reaffirmed a “buy” rating and set a $22.00 price target on shares of SeaSpine in a report on Thursday, May 2nd. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. SeaSpine currently has an average rating of “Buy” and an average target price of $20.86.
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 spine.
Featured Story: Equity Income
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.