Alphatec (NASDAQ:ATEC) Announces Earnings Results, Misses Estimates By $0.04 EPS

Alphatec (NASDAQ:ATEC) posted its earnings results on Wednesday. The medical technology company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.04), Zacks reports. The company had revenue of $176.79 million for the quarter, compared to analysts’ expectations of $172.74 million. Alphatec had a negative return on equity of 541.39% and a negative net margin of 31.06%.

Alphatec Stock Up 7.6 %

Shares of NASDAQ ATEC opened at $11.91 on Thursday. Alphatec has a 52-week low of $4.88 and a 52-week high of $15.01. The company has a quick ratio of 1.15, a current ratio of 2.32 and a debt-to-equity ratio of 30.21. The company’s 50-day simple moving average is $10.57 and its 200-day simple moving average is $8.35. The firm has a market cap of $1.69 billion, a price-to-earnings ratio of -9.24 and a beta of 1.43.

Insider Activity at Alphatec

In related news, EVP David Sponsel sold 58,283 shares of the stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $10.71, for a total value of $624,210.93. Following the completion of the sale, the executive vice president now owns 502,311 shares of the company’s stock, valued at approximately $5,379,750.81. This trade represents a 10.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Scott Lish sold 27,453 shares of the company’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $11.49, for a total transaction of $315,434.97. Following the completion of the sale, the chief operating officer now directly owns 867,677 shares of the company’s stock, valued at $9,969,608.73. This represents a 3.07 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 267,715 shares of company stock valued at $3,048,819. 22.80% of the stock is owned by corporate insiders.

Analyst Ratings Changes

ATEC has been the topic of a number of recent research reports. Barclays raised their price objective on Alphatec from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. Piper Sandler lifted their price objective on shares of Alphatec from $12.00 to $13.00 and gave the stock an “overweight” rating in a research report on Thursday. Needham & Company LLC reissued a “buy” rating and set a $16.00 target price on shares of Alphatec in a research report on Thursday. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $20.00 price target on shares of Alphatec in a report on Tuesday, January 14th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $17.67.

About Alphatec

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.