SeaSpine Holdings (SPNE) Has a New Rating from Canaccord Genuity

By Carrie Williams

In a report released today, Kyle Rose from Canaccord Genuity initiated coverage with a Buy rating on SeaSpine Holdings (SPNEResearch Report) and a price target of $25.00. The company’s shares closed last Monday at $15.24.

According to TipRanks.com, Rose is a 4-star analyst with an average return of 8.6% and a 53.0% success rate. Rose covers the Healthcare sector, focusing on stocks such as Zimmer Biomet Holdings, Globus Medical, and NuVasive.

The word on The Street in general, suggests a Hold analyst consensus rating for SeaSpine Holdings with a $19.00 average price target.

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Based on SeaSpine Holdings’ latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $9.66 million. In comparison, last year the company had a GAAP net loss of $9.53 million.

Based on the recent corporate insider activity of 31 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of SPNE in relation to earlier this year.

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.