Zacks: Analysts Anticipate SeaSpine Holdings Corp (SPNE) Will Announce Quarterly Sales of $36.66 Million

Wall Street analysts expect that SeaSpine Holdings Corp (NASDAQ:SPNE) will post sales of $36.66 million for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for SeaSpine’s earnings, with estimates ranging from $36.22 million to $37.10 million. SeaSpine reported sales of $33.98 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 7.9%. The business is expected to issue its next earnings results on Wednesday, February 27th.

According to Zacks, analysts expect that SeaSpine will report full year sales of $142.07 million for the current financial year, with estimates ranging from $141.64 million to $142.50 million. For the next financial year, analysts expect that the company will report sales of $157.38 million, with estimates ranging from $152.27 million to $162.50 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for SeaSpine.

SeaSpine (NASDAQ:SPNE) last issued its quarterly earnings results on Tuesday, November 6th. The medical equipment provider reported ($0.65) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.53) by ($0.12). The firm had revenue of $35.83 million during the quarter, compared to analysts’ expectations of $35.56 million. SeaSpine had a negative net margin of 22.60% and a negative return on equity of 30.81%.

Several equities research analysts recently commented on SPNE shares. Piper Jaffray Companies upped their price target on shares of SeaSpine from $16.00 to $20.00 and gave the company an “overweight” rating in a research report on Tuesday, October 2nd. Zacks Investment Research downgraded shares of SeaSpine from a “buy” rating to a “hold” rating in a research report on Friday, October 5th. ValuEngine upgraded shares of SeaSpine from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, September 11th. LADENBURG THALM/SH SH set a $23.00 price target on shares of SeaSpine and gave the company a “buy” rating in a research report on Wednesday, October 3rd. Finally, HC Wainwright set a $19.00 price target on shares of SeaSpine and gave the company a “buy” rating in a research report on Thursday, November 8th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. SeaSpine has an average rating of “Buy” and a consensus target price of $20.17.

In other SeaSpine news, Director John B. Henneman III sold 4,564 shares of the stock in a transaction that occurred on Monday, August 27th. The shares were sold at an average price of $14.72, for a total value of $67,182.08. Following the completion of the sale, the director now owns 60,144 shares in the company, valued at approximately $885,319.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John B. Henneman III sold 3,407 shares of the stock in a transaction that occurred on Wednesday, August 29th. The stock was sold at an average price of $14.65, for a total transaction of $49,912.55. Following the completion of the sale, the director now owns 60,144 shares of the company’s stock, valued at approximately $881,109.60. The disclosure for this sale can be found here. 13.54% of the stock is owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the business. Rhumbline Advisers purchased a new stake in SeaSpine in the 2nd quarter worth approximately $134,000. Morgan Stanley lifted its position in SeaSpine by 37.6% in the 3rd quarter. Morgan Stanley now owns 34,100 shares of the medical equipment provider’s stock worth $531,000 after buying an additional 9,326 shares in the last quarter. Northern Trust Corp lifted its position in SeaSpine by 35.3% in the 1st quarter. Northern Trust Corp now owns 35,512 shares of the medical equipment provider’s stock worth $360,000 after buying an additional 9,271 shares in the last quarter. Bank of New York Mellon Corp lifted its position 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 worth $470,000 after buying an additional 26,895 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its position 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 worth $584,000 after buying an additional 23,090 shares in the last quarter. Institutional investors own 42.11% of the company’s stock.

Shares of NASDAQ:SPNE traded up $0.75 during mid-day trading on Friday, hitting $16.91. The stock had a trading volume of 46,200 shares, compared to its average volume of 64,091. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.31 and a current ratio of 2.91. The company has a market cap of $299.49 million, a PE ratio of -6.52 and a beta of 0.19. SeaSpine has a 12-month low of $8.76 and a 12-month high of $18.42.

SeaSpine Company Profile

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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