SeaSpine (NASDAQ:SPNE) Announces Quarterly Earnings Results, Misses Estimates By $0.16 EPS

SeaSpine (NASDAQ:SPNE) announced its quarterly earnings data on Sunday. The medical equipment provider reported ($0.46) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.30) by ($0.16), MarketWatch Earnings reports. SeaSpine had a negative net margin of 27.32% and a negative return on equity of 24.38%.

Shares of SPNE traded down $1.46 on Tuesday, reaching $19.95. 5,922 shares of the stock traded hands, compared to its average volume of 128,054. The stock’s 50-day moving average price is $19.80 and its 200-day moving average price is $17.26. SeaSpine has a 12 month low of $8.78 and a 12 month high of $22.97. The firm has a market cap of $557.70 million, a price-to-earnings ratio of -12.03 and a beta of 1.24.

SPNE has been the subject of several research reports. Piper Sandler lifted their price objective on shares of SeaSpine from $18.00 to $22.00 and gave the company an “overweight” rating in a research note on Friday, January 29th. Canaccord Genuity increased their price target on shares of SeaSpine from $28.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday. BTIG Research raised their target price on shares of SeaSpine from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Tuesday, April 6th. They noted that the move was a valuation call. Wells Fargo & Company raised SeaSpine from an “equal weight” rating to an “overweight” rating and set a $24.00 price target for the company in a report on Wednesday, April 14th. Finally, Zacks Investment Research raised SeaSpine from a “strong sell” rating to a “hold” rating in a research note on Friday, March 5th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $22.71.

In other SeaSpine news, Director Renee Gaeta sold 2,920 shares of the business’s stock in a transaction dated Monday, March 8th. The stock was sold at an average price of $18.28, for a total value of $53,377.60. 9.76% of the stock is currently owned by company insiders.

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 spine.

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Earnings History for SeaSpine (NASDAQ:SPNE)

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