SeaSpine Holdings Corp (SPNE) Director Stuart Essig Sells 8,900 Shares

SeaSpine Holdings Corp (NASDAQ:SPNE) Director Stuart Essig sold 8,900 shares of the company’s stock in a transaction that occurred on Monday, February 11th. The stock was sold at an average price of $16.01, for a total value of $142,489.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Stuart Essig also recently made the following trade(s):

  • On Wednesday, February 13th, Stuart Essig sold 31,148 shares of SeaSpine stock. The stock was sold at an average price of $16.09, for a total value of $501,171.32.

Shares of NASDAQ:SPNE traded down $0.19 during trading on Wednesday, reaching $16.01. 60,363 shares of the company traded hands, compared to its average volume of 75,079. The firm has a market cap of $300.24 million, a PE ratio of -6.21 and a beta of 0.08. SeaSpine Holdings Corp has a 52-week low of $8.76 and a 52-week high of $20.75. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.31 and a current ratio of 2.91.

Several brokerages have issued reports on SPNE. HC Wainwright set a $19.00 target price on SeaSpine and gave the stock a “buy” rating in a research note on Thursday, November 8th. Zacks Investment Research raised SeaSpine from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a research note on Saturday, November 10th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $22.00 target price on shares of SeaSpine in a research note on Monday, January 7th. BidaskClub raised SeaSpine from a “hold” rating to a “buy” rating in a research note on Saturday, October 27th. Finally, Wells Fargo & Co began coverage on SeaSpine in a research note on Thursday, December 13th. They set an “outperform” rating and a $22.00 price objective for the company. One research analyst has rated the stock with a sell rating, one has given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. SeaSpine currently has an average rating of “Buy” and an average target price of $20.43.

Several large investors have recently added to or reduced their stakes in SPNE. Strs Ohio purchased a new stake in shares of SeaSpine during the fourth quarter valued at approximately $107,000. American International Group Inc. boosted its stake in shares of SeaSpine by 24.8% during the fourth quarter. American International Group Inc. now owns 9,751 shares of the medical equipment provider’s stock valued at $178,000 after purchasing an additional 1,935 shares during the period. Commonwealth Equity Services LLC boosted its stake in shares of SeaSpine by 14.0% during the fourth quarter. Commonwealth Equity Services LLC now owns 16,273 shares of the medical equipment provider’s stock valued at $296,000 after purchasing an additional 2,000 shares during the period. Rhumbline Advisers boosted its stake in shares of SeaSpine by 61.3% during the fourth quarter. Rhumbline Advisers now owns 18,193 shares of the medical equipment provider’s stock valued at $332,000 after purchasing an additional 6,915 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in shares of SeaSpine by 261.4% during the second 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 period. 43.57% of the stock is owned by hedge funds and other institutional investors.

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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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