SeaSpine Holdings Corp (SPNE) Major Shareholder Richard E. Caruso Sells 5,020 Shares

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.

Large investors have recently bought and sold shares of the stock. Falcon Point Capital LLC lifted its stake in shares of SeaSpine by 210.8% in the fourth quarter. Falcon Point Capital LLC now owns 221,632 shares of the medical equipment provider’s stock worth $4,043,000 after buying an additional 150,312 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of SeaSpine by 4.5% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 109,724 shares of the medical equipment provider’s stock worth $1,655,000 after buying an additional 4,750 shares in the last quarter. Vanguard Group Inc raised its holdings in shares of SeaSpine by 6.2% during the third quarter. Vanguard Group Inc now owns 546,670 shares of the medical equipment provider’s stock valued at $8,506,000 after purchasing an additional 31,726 shares during the last quarter. Meeder Asset Management Inc. raised its holdings in shares of SeaSpine by 406.2% during the first quarter. Meeder Asset Management Inc. now owns 2,374 shares of the medical equipment provider’s stock valued at $35,000 after purchasing an additional 1,905 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of SeaSpine by 8.2% during the third quarter. Dimensional Fund Advisors LP now owns 620,561 shares of the medical equipment provider’s stock valued at $9,656,000 after purchasing an additional 46,890 shares during the last quarter. 64.71% of the stock is currently owned by institutional investors and hedge funds.

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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About SeaSpine

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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