Q1 2024 Earnings Estimate for Surgalign Holdings, Inc. (NASDAQ:SRGA) Issued By HC Wainwright

Surgalign Holdings, Inc. (NASDAQ:SRGA – Get Rating) – Equities research analysts at HC Wainwright issued their Q1 2024 earnings estimates for Surgalign in a research report issued on Monday, May 15th. HC Wainwright analyst S. Ramakanth anticipates that the company will post earnings of ($0.18) per share for the quarter. HC Wainwright currently has a “Buy” rating and a $3.50 target price on the stock. The consensus estimate for Surgalign’s current full-year earnings is ($2.59) per share. HC Wainwright also issued estimates for Surgalign’s Q2 2024 earnings at ($0.18) EPS, Q3 2024 earnings at ($0.17) EPS and Q4 2024 earnings at ($0.16) EPS.

Surgalign Stock Down 6.9 %

SRGA stock opened at $1.00 on Wednesday. The firm has a market capitalization of $9.20 million, a P/E ratio of -0.12 and a beta of 1.80. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.68 and a quick ratio of 1.84. The company’s 50 day simple moving average is $1.36 and its 200-day simple moving average is $1.84. Surgalign has a 52-week low of $0.96 and a 52-week high of $6.77.

Surgalign (NASDAQ:SRGA – Get Rating) last released its quarterly earnings results on Thursday, March 30th. The company reported ($5.77) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.34) by ($4.43). Surgalign had a negative net margin of 64.63% and a negative return on equity of 2,475.38%. The firm had revenue of $20.57 million for the quarter, compared to analyst estimates of $20.73 million.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Koss Olinger Consulting LLC acquired a new position in Surgalign in the 3rd quarter valued at approximately $36,000. Vanguard Group Inc. increased its stake in Surgalign by 12.6% in the 3rd quarter. Vanguard Group Inc. now owns 177,711 shares of the company’s stock valued at $618,000 after buying an additional 19,906 shares during the period. Jane Street Group LLC increased its stake in Surgalign by 95.4% in the 4th quarter. Jane Street Group LLC now owns 41,034 shares of the company’s stock valued at $82,000 after buying an additional 20,039 shares during the period. Cerity Partners LLC bought a new stake in Surgalign in the fourth quarter worth approximately $143,000. Finally, Group One Trading L.P. grew its position in Surgalign by 55.8% in the first quarter. Group One Trading L.P. now owns 249,066 shares of the company’s stock worth $76,000 after acquiring an additional 89,200 shares in the last quarter. Institutional investors and hedge funds own 12.78% of the company’s stock.

Surgalign Company Profile

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Surgalign Holdings, Inc is a medical technology company, which engages in designing, developing, and manufacturing biologic metal and synthetic implants. Its products portfolio include cervical fixation, The Streamline (TL) fixation, motion preservation, orthobiologics, cervical inter-body fusion, TL IBF, and SI joint fusion.