-$0.35 EPS Expected for SeaSpine Holdings Co. (NASDAQ:SPNE) This Quarter

Equities analysts expect SeaSpine Holdings Co. (NASDAQ:SPNE – Get Rating) to announce earnings per share (EPS) of ($0.35) for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have provided estimates for SeaSpine’s earnings, with the highest EPS estimate coming in at ($0.30) and the lowest estimate coming in at ($0.43). SeaSpine posted earnings per share of ($0.46) in the same quarter last year, which suggests a positive year over year growth rate of 23.9%. The firm is expected to issue its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that SeaSpine will report full-year earnings of ($1.22) per share for the current fiscal year, with EPS estimates ranging from ($1.63) to ($0.89). For the next year, analysts expect that the business will report earnings of ($1.13) per share, with EPS estimates ranging from ($1.64) to ($0.75). Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that that provide coverage for SeaSpine.

SeaSpine (NASDAQ:SPNE – Get Rating) last issued its quarterly earnings results on Friday, March 11th. The medical equipment provider reported ($0.52) earnings per share for the quarter, missing the consensus estimate of ($0.36) by ($0.16). The company had revenue of $55.59 million during the quarter, compared to analyst estimates of $54.86 million. SeaSpine had a negative net margin of 28.39% and a negative return on equity of 21.26%.

SPNE has been the subject of several recent research reports. StockNews.com initiated coverage on SeaSpine in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Piper Sandler cut their target price on SeaSpine from $28.00 to $21.00 and set an “overweight” rating on the stock in a research report on Monday, March 14th. Stifel Nicolaus cut their target price on SeaSpine from $18.00 to $16.00 and set a “buy” rating on the stock in a research report on Monday, March 14th. Truist Financial cut their target price on SeaSpine from $25.00 to $20.00 and set a “buy” rating on the stock in a research report on Tuesday, December 21st. Finally, Zacks Investment Research lowered SeaSpine from a “buy” rating to a “hold” rating in a research report on Saturday, January 29th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $32.00.

Shares of SPNE stock opened at $10.32 on Friday. The stock has a market cap of $379.68 million, a price-to-earnings ratio of -6.37 and a beta of 1.19. The stock has a 50-day moving average of $11.79 and a 200-day moving average of $13.06. SeaSpine has a 1-year low of $10.14 and a 1-year high of $22.78.

A number of large investors have recently made changes to their positions in the business. Deutsche Bank AG boosted its holdings in SeaSpine by 5.3% in the fourth quarter. Deutsche Bank AG now owns 20,129 shares of the medical equipment provider’s stock worth $275,000 after acquiring an additional 1,012 shares in the last quarter. Invesco Ltd. boosted its holdings in SeaSpine by 7.7% in the second quarter. Invesco Ltd. now owns 20,996 shares of the medical equipment provider’s stock worth $430,000 after acquiring an additional 1,509 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in SeaSpine by 5.1% in the fourth quarter. Alliancebernstein L.P. now owns 33,100 shares of the medical equipment provider’s stock worth $451,000 after acquiring an additional 1,600 shares in the last quarter. Citigroup Inc. boosted its holdings in SeaSpine by 135.5% in the third quarter. Citigroup Inc. now owns 3,561 shares of the medical equipment provider’s stock worth $56,000 after acquiring an additional 2,049 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in SeaSpine by 0.7% in the fourth quarter. Northern Trust Corp now owns 344,356 shares of the medical equipment provider’s stock worth $4,690,000 after acquiring an additional 2,539 shares in the last quarter. Institutional investors and hedge funds own 87.19% 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.

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