Equities research analysts expect SeaSpine Holdings Corp (NASDAQ:SPNE) to report earnings of ($0.52) per share for the current quarter, according to Zacks. Two analysts have made estimates for SeaSpine’s earnings. The lowest EPS estimate is ($0.62) and the highest is ($0.41). SeaSpine reported earnings per share of ($0.58) in the same quarter last year, which would indicate a positive year over year growth rate of 10.3%. The company is scheduled to report its next quarterly earnings results on Thursday, November 1st.
On average, analysts expect that SeaSpine will report full-year earnings of ($1.95) per share for the current fiscal year, with EPS estimates ranging from ($2.18) to ($1.81). For the next financial year, analysts expect that the firm will post earnings of ($1.54) per share, with EPS estimates ranging from ($1.66) to ($1.43). Zacks Investment Research’s EPS averages are an average based on a survey of research firms that cover SeaSpine.
SeaSpine (NASDAQ:SPNE) last issued its quarterly earnings results on Monday, July 30th. The medical equipment provider reported ($0.50) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.48) by ($0.02). SeaSpine had a negative return on equity of 27.65% and a negative net margin of 21.75%. The company had revenue of $36.41 million for the quarter, compared to analysts’ expectations of $34.12 million.
A number of research analysts have recently commented on the company. HC Wainwright reiterated a “buy” rating on shares of SeaSpine in a report on Monday, July 16th. Cantor Fitzgerald assumed coverage on SeaSpine in a report on Thursday, May 31st. They issued an “overweight” rating and a $16.00 price objective on the stock. Zacks Investment Research downgraded SeaSpine from a “hold” rating to a “sell” rating in a report on Friday, August 3rd. Finally, ValuEngine upgraded SeaSpine from a “hold” rating to a “buy” rating in a report on Saturday, June 2nd. One research analyst has rated the stock with a sell rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $16.20.
NASDAQ SPNE traded down $0.02 during trading hours on Friday, hitting $15.53. 796 shares of the company were exchanged, compared to its average volume of 48,673. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.20 and a quick ratio of 1.48. SeaSpine has a 52-week low of $8.76 and a 52-week high of $16.51. The company has a market cap of $224.83 million, a price-to-earnings ratio of -5.92 and a beta of 0.46.
In related news, Director John B. Henneman III sold 3,407 shares of the firm’s stock in a transaction that occurred on Wednesday, August 29th. The stock was sold at an average price of $14.65, for a total transaction of $49,912.55. Following the transaction, the director now owns 60,144 shares in the company, valued at approximately $881,109.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John B. Henneman III sold 4,564 shares of the firm’s stock in a transaction that occurred on Monday, August 27th. The stock was sold at an average price of $14.72, for a total value of $67,182.08. Following the transaction, the director now owns 60,144 shares in the company, valued at approximately $885,319.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 51,467 shares of company stock worth $726,039. Company insiders own 13.54% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the stock. Royce & Associates LP boosted its stake in SeaSpine by 8.8% during the second quarter. Royce & Associates LP now owns 61,699 shares of the medical equipment provider’s stock worth $779,000 after acquiring an additional 5,000 shares in the last quarter. Novo Holdings A S boosted its position in shares of SeaSpine by 0.8% during the 2nd quarter. Novo Holdings A S now owns 927,788 shares of the medical equipment provider’s stock valued at $11,709,000 after acquiring an additional 7,408 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of SeaSpine by 8.8% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 94,980 shares of the medical equipment provider’s stock valued at $1,199,000 after acquiring an additional 7,675 shares during the last quarter. Northern Trust Corp boosted 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 valued at $360,000 after acquiring an additional 9,271 shares during the last quarter. Finally, Rhumbline Advisers bought a new position in shares of SeaSpine during the 2nd quarter valued at approximately $134,000. Hedge funds and other institutional investors own 53.39% of the company’s stock.
SeaSpine Company Profile
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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