Published on 20 Apr 2022 on Zacks via Yahoo Finance

SeaSpine (SPNE) Moves 5.8% Higher: Will This Strength Last?

SeaSpine Holdings SPNE shares rallied 5.8% in the last trading session to close at $10.92. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 7.4% loss over the past four weeks.

SeaSpine Holdings recorded a strong price increase on investors’ optimism surrounding the company’s upcoming first quarter 2022 results, which is set to release on May 3, after the closing bell. In the last-reported fourth quarter 2021, the company recorded loss of 52 cents per share, much wider than the Zacks Consensus Estimate of a loss of 36 cents per share. The company’s revenues of $55.6 million for the fourth quarter surpassed the Zacks Consensus Estimate by 1.3%. SeaSpine Holdings expects to report first quarter revenues in the band of $48.5-$49.5 million, reflecting growth of nearly 16%-18% year over year. The Zacks Consensus Estimates for the company’s earnings and revenues also suggest strong year over year growth.

This medical technology company is expected to post quarterly loss of $0.35 per share in its upcoming report, which represents a year-over-year change of +23.9%. Revenues are expected to be $48.92 million, up 16.6% from the year-ago quarter.