FY2022 EPS Estimates for SeaSpine Holdings Co. Cut by Analyst (NASDAQ:SPNE)

SeaSpine Holdings Co. (NASDAQ:SPNEGet Rating) – Equities researchers at Cantor Fitzgerald cut their FY2022 earnings per share estimates for SeaSpine in a report issued on Wednesday, August 3rd. Cantor Fitzgerald analyst R. Osborn now anticipates that the medical equipment provider will post earnings of ($1.65) per share for the year, down from their prior estimate of ($1.50). Cantor Fitzgerald currently has a “Overweight” rating and a $21.00 target price on the stock. The consensus estimate for SeaSpine’s current full-year earnings is ($1.39) per share. Cantor Fitzgerald also issued estimates for SeaSpine’s FY2023 earnings at ($1.32) EPS.

SeaSpine (NASDAQ:SPNEGet Rating) last released its earnings results on Tuesday, August 2nd. The medical equipment provider reported ($0.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.03). SeaSpine had a negative net margin of 32.03% and a negative return on equity of 21.46%. During the same period last year, the business posted ($0.34) earnings per share.

A number of other research firms also recently weighed in on SPNE. Truist Financial decreased their price target on SeaSpine from $20.00 to $12.00 and set a “buy” rating on the stock in a research note on Wednesday, July 20th. Piper Sandler decreased their target price on SeaSpine from $21.00 to $12.00 and set an “overweight” rating on the stock in a research report on Wednesday. StockNews.com upgraded SeaSpine from a “sell” rating to a “hold” rating in a research report on Thursday. Finally, BTIG Research decreased their target price on SeaSpine from $23.00 to $19.00 in a research report on Thursday, June 30th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $30.00.

SeaSpine Price Performance

SeaSpine stock opened at $6.73 on Friday. SeaSpine has a 1-year low of $5.54 and a 1-year high of $17.34. The company has a market cap of $247.66 million, a PE ratio of -3.68 and a beta of 1.39. The stock’s 50 day moving average price is $6.48 and its 200 day moving average price is $9.40.

Institutional Investors Weigh In On SeaSpine

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its position in shares of SeaSpine by 6.1% in the first quarter. JPMorgan Chase & Co. now owns 33,914 shares of the medical equipment provider’s stock worth $413,000 after buying an additional 1,946 shares during the period. Paradigm Capital Management Inc. NY boosted its position in shares of SeaSpine by 0.4% in the first quarter. Paradigm Capital Management Inc. NY now owns 558,100 shares of the medical equipment provider’s stock worth $6,786,000 after buying an additional 2,000 shares during the period. Commonwealth Equity Services LLC boosted its position in shares of SeaSpine by 3.2% in the second quarter. Commonwealth Equity Services LLC now owns 64,079 shares of the medical equipment provider’s stock worth $362,000 after buying an additional 2,000 shares during the period. HighMark Wealth Management LLC boosted its position in shares of SeaSpine by 0.7% in the second quarter. HighMark Wealth Management LLC now owns 310,659 shares of the medical equipment provider’s stock worth $1,755,000 after buying an additional 2,040 shares during the period. Finally, Northern Trust Corp boosted its holdings in SeaSpine by 0.7% in the fourth quarter. Northern Trust Corp now owns 344,356 shares of the medical equipment provider’s stock valued at $4,690,000 after purchasing an additional 2,539 shares during the last quarter. 73.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at SeaSpine

In related news, insider Beau Standish sold 50,000 shares of the company’s stock in a transaction on Thursday, July 14th. The stock was sold at an average price of $5.73, for a total value of $286,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 9.32% of the company’s stock.

SeaSpine Company Profile

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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. It offers 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 and Estimates for SeaSpine (NASDAQ:SPNE)

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