-$0.34 EPS Expected for SeaSpine Holdings Co. (NASDAQ:SPNE) This Quarter

Equities research analysts forecast that SeaSpine Holdings Co. (NASDAQ:SPNEGet Rating) will report earnings per share (EPS) of ($0.34) for the current quarter, according to Zacks. Eight analysts have provided estimates for SeaSpine’s earnings. The lowest EPS estimate is ($0.40) and the highest is ($0.29). SeaSpine also posted earnings of ($0.34) per share during the same quarter last year. The business is scheduled to announce its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that SeaSpine will report full year earnings of ($1.35) per share for the current year, with EPS estimates ranging from ($1.59) to ($1.09). For the next year, analysts expect that the business will report earnings of ($1.15) per share, with EPS estimates ranging from ($1.67) to ($0.75). Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that cover SeaSpine.

SeaSpine (NASDAQ:SPNEGet Rating) last released its quarterly earnings results on Tuesday, May 3rd. The medical equipment provider reported ($0.45) EPS for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.09). SeaSpine had a negative return on equity of 20.19% and a negative net margin of 29.09%. The business had revenue of $50.69 million for the quarter, compared to the consensus estimate of $48.96 million. During the same period in the prior year, the business posted ($0.46) earnings per share. SeaSpine’s revenue was up 20.8% compared to the same quarter last year.

Several equities analysts have commented on the stock. Stifel Nicolaus decreased their target price on shares of SeaSpine from $18.00 to $16.00 and set a “buy” rating on the stock in a report on Monday, March 14th. Piper Sandler decreased their target price on shares of SeaSpine from $28.00 to $21.00 and set an “overweight” rating on the stock in a report on Monday, March 14th. StockNews.com lowered shares of SeaSpine from a “hold” rating to a “sell” rating in a report on Monday, May 9th. Zacks Investment Research lowered shares of SeaSpine from a “buy” rating to a “hold” rating in a report on Saturday, January 29th. Finally, Cantor Fitzgerald decreased their target price on shares of SeaSpine from $27.00 to $21.00 and set an “overweight” rating on the stock in a report on Friday, April 22nd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $30.71.

NASDAQ:SPNE traded up $0.21 during mid-day trading on Friday, reaching $8.65. 154,856 shares of the company’s stock were exchanged, compared to its average volume of 102,145. SeaSpine has a one year low of $8.00 and a one year high of $21.98. The firm has a market capitalization of $318.32 million, a PE ratio of -5.37 and a beta of 1.28. The business’s fifty day simple moving average is $10.07 and its two-hundred day simple moving average is $11.90.

Several institutional investors have recently made changes to their positions in SPNE. Paradigm Capital Management Inc. NY boosted its position in SeaSpine by 0.4% during the 1st quarter. Paradigm Capital Management Inc. NY now owns 558,100 shares of the medical equipment provider’s stock worth $6,786,000 after buying an additional 2,000 shares during the period. Carlson Capital Management acquired a new stake in SeaSpine during the 1st quarter worth approximately $231,000. Engineers Gate Manager LP acquired a new stake in SeaSpine during the 1st quarter worth approximately $137,000. Invesco Ltd. boosted its position in SeaSpine by 45.4% during the 1st quarter. Invesco Ltd. now owns 30,244 shares of the medical equipment provider’s stock worth $368,000 after buying an additional 9,441 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in SeaSpine by 3.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 235,908 shares of the medical equipment provider’s stock worth $2,869,000 after buying an additional 7,607 shares during the period. 73.10% of the stock is currently owned by institutional investors.

About SeaSpine (Get Rating)

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. It offers orthobiologics and spinal implant solutions for the neurosurgeons and orthopedic spine surgeons to perform fusion procedures in the lumbar, thoracic, and cervical spine.

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Earnings History and Estimates for SeaSpine (NASDAQ:SPNE)

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