Alphatec (NASDAQ:ATEC) Releases Earnings Results, Misses Expectations By $0.04 EPS

Alphatec (NASDAQ:ATEC) issued its earnings results on Wednesday. The medical technology company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.04), Zacks reports. The firm had revenue of $176.79 million during 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 Trading Up 7.6 %

Shares of NASDAQ:ATEC opened at $11.91 on Thursday. The company has a current ratio of 2.32, a quick ratio of 1.15 and a debt-to-equity ratio of 30.21. Alphatec has a 12-month low of $4.88 and a 12-month high of $15.01. The company has a market cap of $1.69 billion, a PE ratio of -9.24 and a beta of 1.43. The stock has a 50 day moving average of $10.57 and a 200 day moving average of $8.35.

Insider Activity

In related news, EVP David Sponsel sold 58,283 shares of the business’s 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 in the company, valued at approximately $5,379,750.81. The trade was a 10.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Patrick Miles sold 6,687 shares of the firm’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $12.00, for a total value of $80,244.00. Following the transaction, the chief executive officer now owns 5,501,715 shares in the company, valued at approximately $66,020,580. This represents a 0.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 267,715 shares of company stock worth $3,048,819 in the last three months. Company insiders own 22.80% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on ATEC shares. Piper Sandler boosted their price target on Alphatec from $12.00 to $13.00 and gave the stock an “overweight” rating in a research note on Thursday. Needham & Company LLC reaffirmed a “buy” rating and set a $16.00 price target on shares of Alphatec in a report on Thursday. HC Wainwright restated a “buy” rating and issued a $20.00 target price on shares of Alphatec in a report on Tuesday, January 14th. Finally, Barclays boosted their target price on shares of Alphatec from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $17.67.

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.