Wall Street analysts forecast that SeaSpine Holdings Corp (NASDAQ:SPNE) will report ($0.52) earnings per share (EPS) for the current quarter, according to Zacks. Two analysts have made estimates for SeaSpine’s earnings, with the highest EPS estimate coming in at ($0.41) and the lowest estimate coming in at ($0.62). SeaSpine reported earnings per share of ($0.58) in the same quarter last year, which would suggest a positive year over year growth rate of 10.3%. The firm is expected to report its next quarterly earnings results on Thursday, November 1st.
According to Zacks, analysts expect that SeaSpine will report full-year earnings of ($1.95) per share for the current year, with EPS estimates ranging from ($2.18) to ($1.81). For the next financial year, analysts expect that the business will post earnings of ($1.56) per share, with EPS estimates ranging from ($1.66) to ($1.50). Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that cover SeaSpine.
SeaSpine (NASDAQ:SPNE) last announced its quarterly earnings results on Monday, July 30th. The medical equipment provider reported ($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.48) by ($0.02). SeaSpine had a negative net margin of 21.75% and a negative return on equity of 27.65%. The firm had revenue of $36.41 million for the quarter, compared to the consensus estimate of $34.12 million.
Several equities analysts recently issued reports on SPNE shares. Zacks Investment Research raised shares of SeaSpine from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a report on Wednesday, May 9th. ValuEngine downgraded shares of SeaSpine from a “buy” rating to a “hold” rating in a research note on Friday, May 18th. Cantor Fitzgerald started coverage on shares of SeaSpine in a research note on Thursday, May 31st. They issued an “overweight” rating and a $16.00 target price for the company. Finally, HC Wainwright reaffirmed a “buy” rating on shares of SeaSpine in a research note on Monday, July 16th. One analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. SeaSpine presently has a consensus rating of “Buy” and an average price target of $16.20.
In other SeaSpine news, Director Stuart Essig sold 43,496 shares of the business’s stock in a transaction dated Thursday, August 2nd. The shares were sold at an average price of $14.00, for a total value of $608,944.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director John B. Henneman III sold 4,564 shares of the business’s stock in a transaction dated Monday, August 27th. The stock was sold at an average price of $14.72, for a total transaction of $67,182.08. Following the completion of the transaction, the director now directly owns 60,144 shares of the company’s stock, valued at $885,319.68. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 51,467 shares of company stock valued at $726,039. Insiders own 13.54% of the company’s stock.
Large investors have recently modified their holdings of the company. Rhumbline Advisers acquired a new stake in shares of SeaSpine during the 2nd quarter worth approximately $134,000. Northern Trust Corp grew its position in shares of SeaSpine by 35.3% during the 1st quarter. Northern Trust Corp now owns 35,512 shares of the medical equipment provider’s stock worth $360,000 after buying an additional 9,271 shares during the period. Bank of New York Mellon Corp grew its position in shares of SeaSpine by 261.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 37,185 shares of the medical equipment provider’s stock worth $470,000 after buying an additional 26,895 shares during the period. Schwab Charles Investment Management Inc. grew its position in shares of SeaSpine by 99.6% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 46,267 shares of the medical equipment provider’s stock worth $584,000 after buying an additional 23,090 shares during the period. Finally, Wedge Capital Management L L P NC acquired a new stake in shares of SeaSpine during the 2nd quarter worth approximately $734,000. Institutional investors own 53.98% of the company’s stock.
SPNE stock traded up $0.04 during trading on Thursday, hitting $15.00. 76,500 shares of the stock traded hands, compared to its average volume of 49,031. SeaSpine has a one year low of $8.76 and a one year high of $15.65. The company has a market capitalization of $227.04 million, a P/E ratio of -5.81 and a beta of 0.46. The company has a quick ratio of 1.48, a current ratio of 3.20 and a debt-to-equity ratio of 0.04.
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 regions of the spine.
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