Alphatec (NASDAQ:ATEC) Releases Earnings Results, Misses Expectations By $0.03 EPS

Alphatec (NASDAQ:ATEC) posted its quarterly earnings data on Wednesday. The medical technology company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.26) by ($0.03), Briefing.com reports. The firm had revenue of $145.57 million for the quarter, compared to the consensus estimate of $144.55 million. Alphatec had a negative return on equity of 1,767.81% and a negative net margin of 37.45%. The company’s revenue was up 24.5% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.43) EPS. Alphatec updated its FY 2024 guidance to EPS.

Alphatec Stock Performance

NASDAQ ATEC traded down $3.46 on Thursday, hitting $6.64. 15,639,508 shares of the company’s stock traded hands, compared to its average volume of 1,700,246. The firm has a market capitalization of $928.80 million, a PE ratio of -4.67 and a beta of 1.40. Alphatec has a 1-year low of $6.51 and a 1-year high of $18.32. The firm’s 50-day moving average price is $10.45 and its two-hundred day moving average price is $12.71. The company has a current ratio of 2.39, a quick ratio of 1.49 and a debt-to-equity ratio of 13.63.

Insider Transactions at Alphatec

In other Alphatec news, General Counsel Tyson Eliot Marshall sold 50,232 shares of the company’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $10.88, for a total value of $546,524.16. Following the sale, the general counsel now directly owns 245,638 shares of the company’s stock, valued at $2,672,541.44. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 22.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ATEC. Canaccord Genuity Group reaffirmed a “buy” rating and set a $25.00 price target on shares of Alphatec in a research report on Thursday, July 25th. Wells Fargo & Company decreased their price target on Alphatec from $26.00 to $19.00 and set an “overweight” rating for the company in a research note on Thursday. Needham & Company LLC restated a “buy” rating and set a $23.00 price target on shares of Alphatec in a research note on Thursday. Morgan Stanley lowered shares of Alphatec from an “overweight” rating to an “equal weight” rating in a research report on Thursday. Finally, HC Wainwright reiterated a “buy” rating and issued a $20.00 target price on shares of Alphatec in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Alphatec presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.11.

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.