Alphatec (NASDAQ:ATEC) Announces Quarterly Earnings Results, Beats Expectations By $0.08 EPS

Key Points

• Alphatec reported earnings of $0.02 per share, surpassing expectations by $0.08, with revenue of $185.54 million, up 27.5% year-over-year.
• The company's stock surged by 30.2% following the earnings announcement, reaching a market cap of $2.01 billion.
• Equity analysts have a positive outlook on Alphatec, with several raising their price target, indicating potential continued growth for the company.

Alphatec (NASDAQ:ATEC - Get Free Report) released its quarterly earnings data on Thursday. The medical technology company reported $0.02 earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.08, Briefing.com reports. The company had revenue of $185.54 million during the quarter, compared to analyst estimates of $178.85 million. Alphatec had a negative net margin of 24.33% and a negative return on equity of 1,657.19%. Alphatec's revenue for the quarter was up 27.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.29) EPS. Alphatec updated its FY 2025 guidance to EPS.

Alphatec Stock Down 0.9%

Alphatec stock traded down $0.14 during midday trading on Wednesday, reaching $15.20. The company's stock had a trading volume of 4,364,558 shares, compared to its average volume of 2,063,478. Alphatec has a 52-week low of $4.88 and a 52-week high of $15.45. The stock has a market capitalization of $2.25 billion, a P/E ratio of -13.45 and a beta of 1.05. The company has a debt-to-equity ratio of 23.22, a current ratio of 2.88 and a quick ratio of 1.77. The stock's 50-day simple moving average is $11.47 and its 200-day simple moving average is $11.20.

Analyst Ratings Changes

ATEC has been the topic of several research reports. Lake Street Capital upgraded shares of Alphatec to a "buy" rating and set a $18.00 price objective on the stock in a report on Monday, June 16th. HC Wainwright reaffirmed a "buy" rating and issued a $20.00 target price on shares of Alphatec in a research note on Monday, April 14th. Piper Sandler reissued an "overweight" rating and set a $15.00 price target (up from $13.00) on shares of Alphatec in a research note on Friday, May 2nd. Canaccord Genuity Group reiterated a "buy" rating and issued a $20.00 price target on shares of Alphatec in a report on Friday, August 1st. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $16.00 price target on shares of Alphatec in a report on Friday, May 2nd. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, Alphatec currently has an average rating of "Moderate Buy" and an average target price of $18.50.

Insider Transactions at Alphatec

In other news, COO Scott Lish sold 55,375 shares of Alphatec stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $13.00, for a total value of $719,875.00. Following the sale, the chief operating officer directly owned 771,645 shares of the company's stock, valued at $10,031,385. The trade was a 6.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Craig E. Hunsaker sold 186,122 shares of the business's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $12.34, for a total value of $2,296,745.48. Following the transaction, the executive vice president directly owned 1,463,896 shares in the company, valued at $18,064,476.64. This trade represents a 11.28% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 389,121 shares of company stock worth $4,929,887 over the last three months. 22.80% of the stock is currently owned by insiders.

Institutional Trading of Alphatec

A number of large investors have recently made changes to their positions in the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Alphatec by 18.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 265,907 shares of the medical technology company's stock valued at $2,696,000 after purchasing an additional 41,264 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Alphatec by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,005 shares of the medical technology company's stock valued at $750,000 after acquiring an additional 3,196 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Alphatec during the first quarter worth about $257,000. 66.35% of the stock is owned by institutional investors and hedge funds.

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.