SeaSpine Holdings (SPNE) Received its Third Buy in a Row

By Jason Carr

After Canaccord Genuity and Piper Sandler gave SeaSpine Holdings (NASDAQ: SPNE) a Buy rating last month, the company received another Buy, this time from BTIG. Analyst Ryan Zimmerman maintained a Buy rating on SeaSpine Holdings yesterday and set a price target of $20.00. The company’s shares closed last Monday at $14.73.

According to TipRanks.com, Zimmerman is a 5-star analyst with an average return of 16.9% and a 59.3% success rate. Zimmerman covers the Healthcare sector, focusing on stocks such as Tactile Systems Technology, Staar Surgical Company, and Zimmer Biomet Holdings.

Currently, the analyst consensus on SeaSpine Holdings is a Moderate Buy with an average price target of $20.50, representing a 30.7% upside. In a report released yesterday, Canaccord Genuity also maintained a Buy rating on the stock with a $25.00 price target.

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The company has a one-year high of $16.78 and a one-year low of $10.44. Currently, SeaSpine Holdings has an average volume of 173.5K.

Based on the recent corporate insider activity of 27 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.