Canaccord Genuity Keeps Their Buy Rating on SeaSpine Holdings (SPNE)


In a report released yesterday, Kyle Rose from Canaccord Genuity maintained a Buy rating on SeaSpine Holdings (SPNE), with a price target of $21.00. The company’s shares closed last Tuesday at $14.08.

According to TipRanks.com, Rose is a 4-star analyst with an average return of 10.0% and a 52.7% success rate. Rose covers the Healthcare sector, focusing on stocks such as Zimmer Biomet Holdings, Smith & Nephew Snats, and Alphatec Holdings.

Currently, the analyst consensus on SeaSpine Holdings is a Strong Buy with an average price target of $20.50, a 51.3% upside from current levels. In a report issued on November 9, BTIG also maintained a Buy rating on the stock with a $21.00 price target.

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Based on SeaSpine Holdings’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $43.21 million and GAAP net loss of $6.57 million. In comparison, last year the company earned revenue of $39.89 million and had a GAAP net loss of $9.66 million.

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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.

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