Surgalign Holdings, Inc. (NASDAQ:SRGA – Get Rating) – Equities research analysts at HC Wainwright issued their Q1 2024 earnings estimates for shares of Surgalign in a report issued on Monday, May 15th. HC Wainwright analyst S. Ramakanth forecasts that the company will post earnings of ($0.18) per share for the quarter. HC Wainwright currently has a “Buy” rating and a $3.50 target price on the stock. The consensus estimate for Surgalign’s current full-year earnings is ($2.59) per share. HC Wainwright also issued estimates for Surgalign’s Q2 2024 earnings at ($0.18) EPS, Q3 2024 earnings at ($0.17) EPS and Q4 2024 earnings at ($0.16) EPS.
Surgalign (NASDAQ:SRGA – Get Rating) last posted its quarterly earnings results on Thursday, March 30th. The company reported ($5.77) EPS for the quarter, missing the consensus estimate of ($1.34) by ($4.43). Surgalign had a negative net margin of 64.63% and a negative return on equity of 2,475.38%. The business had revenue of $20.57 million during the quarter, compared to analyst estimates of $20.73 million.
Surgalign Trading Down 6.9 %
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of SRGA. Koss Olinger Consulting LLC acquired a new position in Surgalign during the 3rd quarter valued at about $36,000. Group One Trading L.P. lifted its stake in shares of Surgalign by 55.8% in the 1st quarter. Group One Trading L.P. now owns 249,066 shares of the company’s stock worth $76,000 after acquiring an additional 89,200 shares during the period. Jane Street Group LLC acquired a new stake in shares of Surgalign in the 2nd quarter worth approximately $81,000. Northern Trust Corp lifted its stake in shares of Surgalign by 52.9% in the 1st quarter. Northern Trust Corp now owns 358,662 shares of the company’s stock worth $109,000 after acquiring an additional 124,055 shares during the period. Finally, Verition Fund Management LLC lifted its stake in shares of Surgalign by 208.7% in the 1st quarter. Verition Fund Management LLC now owns 459,560 shares of the company’s stock worth $140,000 after acquiring an additional 310,676 shares during the period. 12.78% of the stock is owned by institutional investors and hedge funds.
Surgalign Holdings, Inc is a medical technology company, which engages in designing, developing, and manufacturing biologic metal and synthetic implants. Its products portfolio include cervical fixation, The Streamline (TL) fixation, motion preservation, orthobiologics, cervical inter-body fusion, TL IBF, and SI joint fusion.
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