Alphatec (NASDAQ:ATEC) Announces 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 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 analyst estimates of $172.74 million. Alphatec had a negative return on equity of 541.39% and a negative net margin of 31.06%.

Alphatec Stock Performance

Shares of NASDAQ:ATEC traded down $0.38 during midday trading on Friday, hitting $11.74. The company’s stock had a trading volume of 307,077 shares, compared to its average volume of 1,702,712. Alphatec has a fifty-two week low of $4.88 and a fifty-two week 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 stock has a market capitalization of $1.66 billion, a price-to-earnings ratio of -9.18 and a beta of 1.43. The stock’s 50 day simple moving average is $10.57 and its 200 day simple moving average is $8.35.

Insider Buying and Selling

In other news, EVP David Sponsel sold 58,283 shares of the company’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 transaction of $624,210.93. Following the completion of the transaction, the executive vice president now directly owns 502,311 shares in the company, valued at $5,379,750.81. The trade was a 10.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 stock was sold at an average price of $12.00, for a total transaction of $80,244.00. Following the completion of the sale, the chief executive officer now owns 5,501,715 shares in the company, valued at approximately $66,020,580. The trade was a 0.12 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 267,715 shares of company stock valued at $3,048,819. Insiders own 22.80% of the company’s stock.

Wall Street Analyst Weigh In

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