Zacks: Analysts Expect SeaSpine Holdings Co. (NASDAQ:SPNE) to Announce -$0.30 EPS

Wall Street brokerages expect SeaSpine Holdings Co. (NASDAQ:SPNE) to post earnings of ($0.30) per share for the current quarter, according to Zacks Investment Research. Eight analysts have issued estimates for SeaSpine’s earnings, with the highest EPS estimate coming in at ($0.22) and the lowest estimate coming in at ($0.40). SeaSpine reported earnings of ($0.24) per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 25%. The firm is scheduled to issue its next quarterly earnings results on Monday, November 8th.

On average, analysts expect that SeaSpine will report full year earnings of ($1.18) per share for the current year, with EPS estimates ranging from ($1.43) to ($0.94). For the next year, analysts expect that the business will report earnings of ($1.01) per share, with EPS estimates ranging from ($1.31) to ($0.73). Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that that provide coverage for SeaSpine.

SeaSpine (NASDAQ:SPNE) last released its quarterly earnings data on Sunday, August 1st. The medical equipment provider reported ($0.16) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.16. The firm had revenue of $47.46 million during the quarter, compared to analyst estimates of $46.18 million. SeaSpine had a negative return on equity of 19.31% and a negative net margin of 19.46%. The business’s quarterly revenue was up 66.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.50) earnings per share.

Separately, Zacks Investment Research upgraded SeaSpine from a “sell” rating to a “hold” rating in a research report on Friday, August 6th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $25.20.

In other SeaSpine news, insider Beau Standish sold 10,100 shares of the stock in a transaction on Wednesday, July 21st. The stock was sold at an average price of $19.24, for a total transaction of $194,324.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 10.61% of the stock is owned by corporate insiders.

A number of hedge funds have recently modified their holdings of the stock. Royal Bank of Canada raised its stake in SeaSpine by 15.5% in the 1st quarter. Royal Bank of Canada now owns 3,916 shares of the medical equipment provider’s stock worth $68,000 after acquiring an additional 525 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of SeaSpine by 4.0% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 19,519 shares of the medical equipment provider’s stock valued at $400,000 after buying an additional 743 shares during the last quarter. JNBA Financial Advisors purchased a new position in shares of SeaSpine in the 1st quarter valued at about $26,000. Invesco Ltd. increased its stake in shares of SeaSpine by 7.7% in the 2nd quarter. Invesco Ltd. now owns 20,996 shares of the medical equipment provider’s stock valued at $430,000 after purchasing an additional 1,509 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in SeaSpine by 1.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 99,928 shares of the medical equipment provider’s stock worth $2,050,000 after buying an additional 1,586 shares during the last quarter. Institutional investors own 73.26% of the company’s stock.

SeaSpine stock traded down $0.04 during midday trading on Wednesday, reaching $15.83. 4,008 shares of the stock traded hands, compared to its average volume of 158,205. SeaSpine has a 12 month low of $12.24 and a 12 month high of $22.97. The stock’s fifty day moving average is $17.29 and its 200-day moving average is $19.06. The stock has a market cap of $576.18 million, a P/E ratio of -12.72 and a beta of 1.19.

About SeaSpine

SeaSpine Holdings Corp. operates as a medical technology company. The firm engages in the design, developmen and commercialization of surgical solutions for the treatment of patients suffering from spinal disorders. It products include thoracolumbar hardware, cervical hardware, orthobiologics, and spine pure strip.

Read More: Fibonacci Channel

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.