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

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

Alphatec Price Performance

Shares of ATEC stock traded down $0.38 during mid-day trading on Friday, hitting $11.74. 307,077 shares of the stock traded hands, compared to its average volume of 1,702,712. Alphatec has a twelve month low of $4.88 and a twelve month high of $14.88. The company has a debt-to-equity ratio of 30.21, a quick ratio of 1.15 and a current ratio of 2.32. 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 $1.66 billion, a price-to-earnings ratio of -9.18 and a beta of 1.43.

Analyst Upgrades and Downgrades

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

Insider Activity

In related news, EVP David Sponsel sold 12,946 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $10.73, for a total value of $138,910.58. Following the sale, the executive vice president now directly owns 722,128 shares in the company, valued at $7,748,433.44. The trade was a 1.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Patrick Miles sold 6,687 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $12.00, for a total transaction of $80,244.00. Following the sale, the chief executive officer now owns 5,501,715 shares of the company’s stock, valued at $66,020,580. The trade was a 0.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 267,715 shares of company stock worth $3,048,819 over the last 90 days. 22.80% of the stock is currently owned by company insiders.

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.