Revenue Update on SeaSpine Holdings Corp(NASDAQ:SPNE)

SeaSpine Holdings Corp(NASDAQ:SPNE) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Aug 9, 2016. Company reported revenue of $33.20M. Analysts estimated a revenue of $32.90M. Earnings per share were $-1.07. Analysts had estimated an EPS of $-0.79.

SeaSpine Holdings Corp (SPNE) shares turned negative on Wednesdays trading session with the shares closing down -0.41 points or -3.90% at a volume of 22,023. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $10.54. The peak price level was also seen at $10.54 while the days lowest was $9.9501. Finally the shares closed at $10.1. The 52-week high of the shares is $19.585 while the 52-week low is $9.0501. According to the latest information available, the market cap of the company is $113 M.

Several Insider Transactions has been reported to the SEC. On May 24, 2016, Keith Valentine (CEO) purchased 10,000 shares at $10.15 per share price.Also, On May 23, 2016, John J. Bostjancic (CFO) purchased 5,000 shares at $10.25 per share price.On Sep 9, 2015, John J. Winge (VP, Sales) purchased 5,315 shares at $15.21 per share price, according to the Form-4 filing with the securities and exchange commission.

SeaSpine Holdings Corporation is a medical technology company. The Company is focused on the design development and commercialization of surgical solutions for the treatment of patients suffering from spinal disorders. The Company has a portfolio of orthobiologics and spinal fusion hardware solutions for neurosurgeons and orthopedic spine surgeons which can be used to perform fusion procedures in the lumbar thoracic and cervical spine. The Company’s orthobiologics products consist of a range of bone graft substitutes that are designed to improve bone fusion rates following surgery. The Company’s spinal fusion hardware portfolio consists of a line of products for minimally invasive surgery (MIS) complex spine deformity and degenerative procedures. The Company’s products include Accell Evo3 OsteoSparx Accell Connexus Zuma-C Anterior Cervical Fixation System Zuma IBD OsSatura TCP and Coral MIS among others.

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