Alphatec (NASDAQ:ATEC) Issues Quarterly Earnings Results

Alphatec (NASDAQ:ATEC) posted its 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 for 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 quarter in the prior year, the company posted ($0.40) earnings per share.

Alphatec Stock Performance

Shares of NASDAQ:ATEC traded down $2.58 during trading on Wednesday, hitting $11.00. 3,314,597 shares of the company were exchanged, compared to its average volume of 1,603,977. The company has a market cap of $1.54 billion, a PE ratio of -7.31 and a beta of 1.48. Alphatec has a 52-week low of $8.66 and a 52-week high of $19.14. The company has a debt-to-equity ratio of 6.54, a current ratio of 2.86 and a quick ratio of 1.99. The stock has a 50 day moving average of $13.32 and a 200 day moving average of $13.56.

Analysts Set New Price Targets

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

Insider Activity

In related news, EVP David Sponsel sold 2,500 shares of the stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $16.16, for a total transaction of $40,400.00. Following the sale, the executive vice president now owns 637,418 shares of the company’s stock, valued at approximately $10,300,674.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Alphatec news, General Counsel Tyson Eliot Marshall sold 9,225 shares of the company’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $13.16, for a total value of $121,401.00. Following the transaction, the general counsel now directly owns 295,870 shares in the company, valued at approximately $3,893,649.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP David Sponsel sold 2,500 shares of Alphatec stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $16.16, for a total value of $40,400.00. Following the sale, the executive vice president now owns 637,418 shares of the company’s stock, valued at approximately $10,300,674.88. The disclosure for this sale can be found here. Over the last three months, insiders sold 285,069 shares of company stock worth $3,971,495. 29.12% of the stock is owned by corporate insiders.

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.