Brokerages forecast that SeaSpine Holdings Corp (NASDAQ:SPNE) will announce ($0.33) earnings per share for the current fiscal quarter, Zacks reports. Zero analysts have issued estimates for SeaSpine’s earnings. The highest EPS estimate is ($0.25) and the lowest is ($0.40). SeaSpine reported earnings per share of ($0.56) in the same quarter last year, which would suggest a positive year over year growth rate of 41.1%. The company is scheduled to announce its next earnings results after the market closes on Wednesday, February 27th.
According to Zacks, analysts expect that SeaSpine will report full year earnings of ($2.04) per share for the current year, with EPS estimates ranging from ($2.18) to ($1.80). For the next year, analysts forecast that the company will report earnings of ($1.56) per share, with EPS estimates ranging from ($1.77) to ($1.30). Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that follow SeaSpine.
A number of research firms have issued reports on SPNE. Zacks Investment Research downgraded shares of SeaSpine from a “buy” rating to a “hold” rating in a report on Friday, November 16th. BidaskClub raised shares of SeaSpine from a “sell” rating to a “hold” rating in a report on Wednesday. HC Wainwright set a $19.00 price objective on shares of SeaSpine and gave the stock a “buy” rating in a report on Thursday, November 8th. Cantor Fitzgerald reaffirmed a “buy” rating and set a $22.00 price objective on shares of SeaSpine in a report on Monday, January 7th. Finally, Wells Fargo & Co began coverage on shares of SeaSpine in a report on Thursday, December 13th. They set an “outperform” rating and a $22.00 price objective on the stock. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $20.43.
A number of institutional investors have recently made changes to their positions in SPNE. Bank of New York Mellon Corp raised its stake in SeaSpine by 261.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 37,185 shares of the medical equipment provider’s stock valued at $470,000 after acquiring an additional 26,895 shares during the period. Schwab Charles Investment Management Inc. raised its stake in SeaSpine by 99.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 46,267 shares of the medical equipment provider’s stock valued at $584,000 after acquiring an additional 23,090 shares during the period. BlackRock Inc. raised its stake in SeaSpine by 110.3% in the 2nd quarter. BlackRock Inc. now owns 936,948 shares of the medical equipment provider’s stock valued at $11,826,000 after acquiring an additional 491,379 shares during the period. Dimensional Fund Advisors LP raised its stake in SeaSpine by 11.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 573,671 shares of the medical equipment provider’s stock valued at $7,240,000 after acquiring an additional 60,848 shares during the period. Finally, Northern Trust Corp raised its stake in SeaSpine by 270.5% in the 2nd quarter. Northern Trust Corp now owns 131,583 shares of the medical equipment provider’s stock valued at $1,661,000 after acquiring an additional 96,071 shares during the period. Institutional investors and hedge funds own 46.26% of the company’s stock.
SPNE traded up $0.34 during mid-day trading on Thursday, reaching $17.84. 2,600 shares of the stock were exchanged, compared to its average volume of 51,948. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.91 and a quick ratio of 1.31. The company has a market capitalization of $313.02 million, a price-to-earnings ratio of -6.94 and a beta of 0.08. SeaSpine has a 1 year low of $9.51 and a 1 year high of $20.75.
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. The company provides orthobiologics and spinal implant solutions for the neurosurgeons and orthopedic spine surgeons to perform fusion procedures in the lumbar, thoracic, and cervical regions of the spine.
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