Alphatec (NASDAQ:ATEC) Announces Earnings Results, Misses Estimates By $0.01 EPS

Alphatec (NASDAQ:ATEC) issued its quarterly earnings results on Tuesday. The medical technology company reported ($0.34) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($0.01), Briefing.com reports. The business had revenue of $138.48 million during the quarter, compared to the consensus estimate of $134.07 million. During the same quarter last year, the business posted ($0.40) EPS. Alphatec’s revenue for the quarter was up 26.9% compared to the same quarter last year.

Alphatec Trading Down 21.9 %

NASDAQ:ATEC opened at $10.60 on Thursday. The company has a current ratio of 2.86, a quick ratio of 1.99 and a debt-to-equity ratio of 6.54. The stock’s 50 day simple moving average is $13.25 and its 200-day simple moving average is $13.54. Alphatec has a 12-month low of $8.66 and a 12-month high of $19.14. The firm has a market cap of $1.48 billion, a P/E ratio of -6.84 and a beta of 1.48.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Canaccord Genuity Group reissued a “buy” rating and issued a $25.00 target price on shares of Alphatec in a report on Wednesday, March 20th. Needham & Company LLC reissued a “buy” rating and set a $23.00 target price on shares of Alphatec in a research report on Wednesday. Wells Fargo & Company assumed coverage on Alphatec in a research note on Friday, February 9th. They set an “overweight” rating and a $26.00 target price for the company. HC Wainwright reiterated a “buy” rating and issued a $20.00 price target on shares of Alphatec in a research note on Monday, March 4th. Finally, Piper Sandler reduced their price objective on shares of Alphatec from $19.00 to $17.00 and set an “overweight” rating for the company in a research report on Wednesday. One investment analyst has rated the stock with a sell rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $22.89.

Insider Activity at Alphatec

In other news, General Counsel Tyson Eliot Marshall sold 11,825 shares of Alphatec stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $13.30, for a total value of $157,272.50. Following the sale, the general counsel now owns 305,095 shares of the company’s stock, valued at $4,057,763.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, General Counsel Tyson Eliot Marshall sold 11,825 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $13.30, for a total transaction of $157,272.50. Following the transaction, the general counsel now owns 305,095 shares of the company’s stock, valued at $4,057,763.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP David Sponsel sold 17,820 shares of the stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $15.34, for a total value of $273,358.80. Following the completion of the transaction, the executive vice president now owns 654,661 shares of the company’s stock, valued at approximately $10,042,499.74. The disclosure for this sale can be found here. Insiders have sold a total of 285,069 shares of company stock worth $3,971,495 in the last three months. Insiders own 29.12% of the company’s stock.

Alphatec Company Profile

Alphatec Holdings, Inc, a medical technology company, designs, develops, and advances technologies for the surgical treatment of spinal disorders in the United States and internationally. It manufactures and sells implants and instruments through third-party suppliers. The company offers Alpha InformatiX product platform, including EOS imaging system that provides full-body imaging; VEA alignment mobile application, which leverages EOS technology to more quickly quantify alignment parameters on a mobile device; SafeOp Neural InformatiX System that automates electromyographic and somatosensory evoked potential monitoring; and Valence, an intra-operative system that integrates navigation and robotics into spine procedures, as well as Sigma Prone TransPsoas (PTP) Access and PTP Patient Positioning Systems.