SeaSpine Holdings Corp (NASDAQ:SPNE) major shareholder Richard E. Caruso sold 5,020 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $15.17, for a total transaction of $76,153.40. Following the completion of the sale, the insider now owns 20,477 shares of the company’s stock, valued at approximately $310,636.09. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.
Shares of NASDAQ SPNE traded down $0.38 during midday trading on Friday, hitting $13.63. 52,300 shares of the company traded hands, compared to its average volume of 83,600. SeaSpine Holdings Corp has a 12-month low of $11.16 and a 12-month high of $20.75. The stock has a market capitalization of $260.22 million, a P/E ratio of -6.25 and a beta of 0.06.
SeaSpine (NASDAQ:SPNE) last announced its quarterly earnings results on Wednesday, May 1st. The medical equipment provider reported ($0.48) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.42) by ($0.06). SeaSpine had a negative net margin of 24.18% and a negative return on equity of 30.07%. The company had revenue of $36.15 million for the quarter, compared to analysts’ expectations of $35.72 million. On average, equities analysts anticipate that SeaSpine Holdings Corp will post -1.72 EPS for the current year.
A number of analysts have recently issued reports on the stock. BidaskClub raised shares of SeaSpine from a “sell” rating to a “hold” rating in a report on Wednesday, February 20th. Zacks Investment Research downgraded shares of SeaSpine from a “buy” rating to a “hold” rating in a report on Tuesday, March 5th. BTIG Research reaffirmed a “buy” rating and set a $20.00 price objective on shares of SeaSpine in a report on Sunday, March 31st. ValuEngine downgraded shares of SeaSpine from a “strong-buy” rating to a “buy” rating in a report on Thursday, April 11th. Finally, Cantor Fitzgerald reiterated a “buy” rating and issued a $22.00 target price on shares of SeaSpine in a research report on Thursday, May 2nd. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $20.86.
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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.
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