Canaccord Genuity Sticks to Their Buy Rating for SeaSpine Holdings (SPNE)

By Carrie Williams

In a report released yesterday, Kyle Rose from Canaccord Genuity maintained a Buy rating on SeaSpine Holdings (SPNEResearch Report), with a price target of $21.00. The company’s shares closed last Wednesday at $10.13.

According to TipRanks.com, Rose is a 4-star analyst with an average return of 5.2% and a 48.8% success rate. Rose covers the Healthcare sector, focusing on stocks such as Zimmer Biomet Holdings, Smith & Nephew Snats, and Obalon Therapeutics.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for SeaSpine Holdings with a $16.00 average price target, which is a 54.7% upside from current levels. In a report released yesterday, BTIG also maintained a Buy rating on the stock with a $14.00 price target.

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The company has a one-year high of $16.79 and a one-year low of $4.02. Currently, SeaSpine Holdings has an average volume of 232.9K.

Based on the recent corporate insider activity of 28 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SPNE in relation to earlier this year. Earlier this month, Richard Caruso, a Major Shareholder at SPNE sold 4,921 shares for a total of $51,917.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

SeaSpine Holdings Corp. is a medical technology company, which focuses on design, development and commercialization of surgical solutions for the treatment of patients suffering from spinal disorders. It has a comprehensive portfolio of orthobiologics and spinal fusion hardware solutions to meet the varying combinations of products that neurosurgeons and orthopedic spine surgeons need to perform fusion procedures on the lumbar, thoracic and cervical spine. The company was founded on February 12, 2015 and is headquartered in Carlsbad, CA.