Assenagon Asset Management S.A. Sells 4,600 Shares of SeaSpine Holdings Corp (NASDAQ:SPNE)

Assenagon Asset Management S.A. lowered its position in shares of SeaSpine Holdings Corp (NASDAQ:SPNE) by 31.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,000 shares of the medical equipment provider’s stock after selling 4,600 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.05% of SeaSpine worth $122,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in SPNE. River & Mercantile Asset Management LLP bought a new stake in shares of SeaSpine during the second quarter worth $1,512,000. Russell Investments Group Ltd. increased its holdings in SeaSpine by 10.9% in the second quarter. Russell Investments Group Ltd. now owns 892,836 shares of the medical equipment provider’s stock valued at $11,826,000 after purchasing an additional 87,743 shares during the last quarter. BlackRock Inc. increased its holdings in SeaSpine by 7.3% in the second quarter. BlackRock Inc. now owns 1,105,227 shares of the medical equipment provider’s stock valued at $14,645,000 after purchasing an additional 74,877 shares during the last quarter. Wells Fargo & Company MN increased its holdings in SeaSpine by 52.6% in the second quarter. Wells Fargo & Company MN now owns 151,702 shares of the medical equipment provider’s stock valued at $2,010,000 after purchasing an additional 52,275 shares during the last quarter. Finally, Bessemer Group Inc. increased its holdings in SeaSpine by 1,766.7% in the second quarter. Bessemer Group Inc. now owns 50,400 shares of the medical equipment provider’s stock valued at $668,000 after purchasing an additional 47,700 shares during the last quarter. Institutional investors own 65.25% of the company’s stock.

NASDAQ SPNE opened at $11.77 on Friday. The stock has a 50-day simple moving average of $11.52 and a 200 day simple moving average of $12.76. The company has a market capitalization of $221.04 million, a PE ratio of -5.40 and a beta of 0.18. SeaSpine Holdings Corp has a 12 month low of $10.44 and a 12 month high of $20.75.

SeaSpine (NASDAQ:SPNE) last posted its earnings results on Thursday, August 1st. The medical equipment provider reported ($0.38) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.03. SeaSpine had a negative return on equity of 28.45% and a negative net margin of 26.84%. The firm had revenue of $39.31 million during the quarter, compared to analysts’ expectations of $38.95 million. On average, equities research analysts predict that SeaSpine Holdings Corp will post -1.64 EPS for the current year.

SPNE has been the subject of a number of recent analyst reports. ValuEngine upgraded SeaSpine from a “hold” rating to a “buy” rating in a report on Friday, October 4th. BTIG Research reiterated a “buy” rating and issued a $20.00 price objective on shares of SeaSpine in a report on Sunday, August 4th. Finally, Zacks Investment Research downgraded SeaSpine from a “buy” rating to a “hold” rating in a report on Thursday, October 17th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $19.20.

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 spine.

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Institutional Ownership by Quarter for SeaSpine (NASDAQ:SPNE)

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