Analysts Expect SeaSpine Holdings Co. (NASDAQ:SPNE) Will Announce Quarterly Sales of $54.30 Million

Wall Street analysts expect SeaSpine Holdings Co. (NASDAQ:SPNEGet Rating) to announce sales of $54.30 million for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have made estimates for SeaSpine’s earnings, with the lowest sales estimate coming in at $51.49 million and the highest estimate coming in at $55.62 million. SeaSpine reported sales of $47.46 million in the same quarter last year, which indicates a positive year-over-year growth rate of 14.4%. The firm is scheduled to announce its next earnings results on Monday, January 1st.

On average, analysts expect that SeaSpine will report full year sales of $232.45 million for the current fiscal year, with estimates ranging from $229.42 million to $233.74 million. For the next financial year, analysts anticipate that the company will post sales of $255.60 million, with estimates ranging from $241.39 million to $272.80 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for SeaSpine.

SeaSpine (NASDAQ:SPNEGet Rating) last released its quarterly earnings results on Tuesday, May 3rd. The medical equipment provider reported ($0.45) earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $50.69 million for the quarter, compared to analyst estimates of $48.96 million. During the same period in the previous year, the business posted ($0.46) earnings per share. The business’s revenue for the quarter was up 20.8% on a year-over-year basis.

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

SeaSpine stock opened at $8.65 on Friday. SeaSpine has a one year low of $8.00 and a one year high of $21.98. The stock’s fifty day moving average price is $10.01 and its two-hundred day moving average price is $11.82. The firm has a market cap of $318.32 million, a PE ratio of -5.37 and a beta of 1.28.

Several institutional investors have recently bought and sold shares of the company. HighTower Advisors LLC lifted its holdings in SeaSpine by 12.8% in the third quarter. HighTower Advisors LLC now owns 96,162 shares of the medical equipment provider’s stock worth $1,511,000 after buying an additional 10,896 shares during the period. MFA Wealth Advisors LLC purchased a new position in shares of SeaSpine during the third quarter valued at approximately $71,000. Moors & Cabot Inc. purchased a new position in shares of SeaSpine during the third quarter valued at approximately $4,874,000. BlackRock Inc. lifted its holdings in shares of SeaSpine by 0.5% during the third quarter. BlackRock Inc. now owns 2,415,642 shares of the medical equipment provider’s stock valued at $37,998,000 after purchasing an additional 13,132 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of SeaSpine by 0.7% during the fourth quarter. Northern Trust Corp now owns 344,356 shares of the medical equipment provider’s stock valued at $4,690,000 after purchasing an additional 2,539 shares during the last quarter. Institutional investors own 73.10% of the company’s stock.

SeaSpine Company Profile (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.

Further Reading

Get a free copy of the Zacks research report on SeaSpine (SPNE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for SeaSpine (NASDAQ:SPNE)

Receive News & Ratings for SeaSpine Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SeaSpine and related companies with MarketBeat.com's FREE daily email newsletter.