SeaSpine (NASDAQ:SPNE) Announces Earnings Results

SeaSpine (NASDAQ:SPNE) announced its quarterly earnings results on Sunday. The medical equipment provider reported ($0.46) earnings per share for the quarter, missing the Zacks’ 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 NASDAQ:SPNE traded down $1.11 on Tuesday, hitting $20.30. The company had a trading volume of 9,778 shares, compared to its average volume of 128,054. SeaSpine has a 1-year low of $8.78 and a 1-year high of $22.97. The stock has a market cap of $567.49 million, a price-to-earnings ratio of -12.03 and a beta of 1.24. The stock has a 50 day moving average price of $19.80 and a 200 day moving average price of $17.26.

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

A number of analysts have recently commented on SPNE shares. Canaccord Genuity boosted their price objective on shares of SeaSpine from $28.00 to $30.00 and gave the stock a “buy” rating in a research report on Tuesday. BTIG Research upped their price target 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. Zacks Investment Research raised shares of SeaSpine from a “strong sell” rating to a “hold” rating in a research report on Friday, March 5th. Wells Fargo & Company raised shares of SeaSpine from an “equal weight” rating to an “overweight” rating and set a $24.00 price target on the stock in a research report on Wednesday, April 14th. Finally, Piper Sandler upped their price target on shares of SeaSpine from $18.00 to $22.00 and gave the stock an “overweight” rating in a research report on Friday, January 29th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $22.71.

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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