SeaSpine (SPNE) Set to Announce Quarterly Earnings on Tuesday

SeaSpine (NASDAQ:SPNE) is set to announce its earnings results after the market closes on Tuesday, November 6th. Analysts expect the company to announce earnings of ($0.53) per share for the quarter.

SeaSpine (NASDAQ:SPNE) last posted its quarterly earnings results on Monday, July 30th. The medical equipment provider reported ($0.50) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.48) by ($0.02). SeaSpine had a negative return on equity of 27.65% and a negative net margin of 21.75%. The business had revenue of $36.41 million during the quarter, compared to the consensus estimate of $34.12 million. On average, analysts expect SeaSpine to post $-2 EPS for the current fiscal year and $-2 EPS for the next fiscal year.

SPNE stock opened at $17.07 on Tuesday. SeaSpine has a 1-year low of $8.76 and a 1-year high of $18.42. The company has a quick ratio of 1.48, a current ratio of 3.20 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $251.66 million, a price-to-earnings ratio of -6.62 and a beta of 0.46.

Several research analysts have weighed in on SPNE shares. HC Wainwright restated a “buy” rating on shares of SeaSpine in a research note on Monday, July 16th. Cantor Fitzgerald restated a “buy” rating and issued a $16.00 price target on shares of SeaSpine in a research note on Monday, July 30th. Zacks Investment Research downgraded SeaSpine from a “hold” rating to a “sell” rating in a research report on Friday, August 3rd. ValuEngine upgraded SeaSpine from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, September 11th. Finally, Piper Jaffray Companies increased their target price on SeaSpine from $16.00 to $20.00 and gave the company an “overweight” rating in a research report on Tuesday, October 2nd. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. SeaSpine presently has a consensus rating of “Buy” and an average target price of $18.33.

In related news, Director John B. Henneman III sold 3,407 shares of the firm’s stock in a transaction on Wednesday, August 29th. The stock was sold at an average price of $14.65, for a total value of $49,912.55. Following the completion of the sale, the director now directly owns 60,144 shares in the company, valued at $881,109.60. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John B. Henneman III sold 4,564 shares of the firm’s stock in a transaction on Monday, August 27th. The stock was 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 of the company’s stock, valued at $885,319.68. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 51,467 shares of company stock valued at $726,039. 13.54% of the stock is owned by corporate insiders.

An institutional investor recently raised its position in SeaSpine stock. Bank of New York Mellon Corp increased its stake in SeaSpine Holdings Corp (NASDAQ:SPNE) by 261.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 37,185 shares of the medical equipment provider’s stock after buying an additional 26,895 shares during the quarter. Bank of New York Mellon Corp owned about 0.25% of SeaSpine worth $470,000 as of its most recent SEC filing. 53.39% of the stock is currently owned by hedge funds and other institutional investors.

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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Earnings History for SeaSpine (NASDAQ:SPNE)

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