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

Alphatec (NASDAQ:ATEC) posted its quarterly earnings results on Tuesday. The medical technology company reported ($0.34) EPS 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 analysts’ expectations of $134.07 million. The firm’s quarterly revenue was up 26.9% on a year-over-year basis. During the same period last year, the business posted ($0.40) earnings per share.

Alphatec Price Performance

Shares of NASDAQ ATEC traded down $2.23 during mid-day trading on Wednesday, reaching $11.35. 2,681,016 shares of the company were exchanged, compared to its average volume of 1,596,713. The company’s 50 day moving average price is $13.32 and its 200 day moving average price is $13.56. Alphatec has a 52 week low of $8.66 and a 52 week high of $19.14. The company has a quick ratio of 1.99, a current ratio of 2.86 and a debt-to-equity ratio of 6.54. The stock has a market capitalization of $1.59 billion, a PE ratio of -7.31 and a beta of 1.48.

Insiders Place Their Bets

In related news, EVP Craig E. Hunsaker sold 41,560 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $15.05, for a total transaction of $625,478.00. Following the transaction, the executive vice president now directly owns 1,188,444 shares of the company’s stock, valued at approximately $17,886,082.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Alphatec news, EVP David Sponsel sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $16.16, for a total value of $40,400.00. Following the completion of the sale, the executive vice president now owns 637,418 shares in the company, valued at $10,300,674.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Craig E. Hunsaker sold 41,560 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $15.05, for a total transaction of $625,478.00. Following the completion of the transaction, the executive vice president now owns 1,188,444 shares in the company, valued at approximately $17,886,082.20. The disclosure for this sale can be found here. Insiders sold a total of 285,069 shares of company stock valued at $3,971,495 over the last 90 days. Insiders own 29.12% of the company’s stock.

Wall Street Analyst Weigh In

ATEC has been the subject of a number of analyst reports. Wells Fargo & Company started coverage on shares of Alphatec in a report on Friday, February 9th. They set an “overweight” rating and a $26.00 price objective for the company. HC Wainwright restated a “buy” rating and issued a $20.00 price target on shares of Alphatec in a research note on Monday, March 4th. Needham & Company LLC reiterated a “buy” rating and issued a $23.00 price target on shares of Alphatec in a research note on Wednesday. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $25.00 price target on shares of Alphatec in a research report on Wednesday, March 20th. One research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $23.63.

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.