Alphatec (NASDAQ:ATEC) Posts 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 earnings results 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 business had revenue of $185.54 million during the quarter, compared to analysts' expectations of $178.85 million. Alphatec had a negative net margin of 24.33% and a negative return on equity of 1,657.19%. The firm's revenue was up 27.5% on a year-over-year basis. During the same period last year, the business earned ($0.29) earnings per share. Alphatec updated its FY 2025 guidance to EPS.

Alphatec Stock Up 30.2%

Shares of Alphatec stock opened at $13.77 on Friday. The firm has a market cap of $2.01 billion, a PE ratio of -12.19 and a beta of 1.05. The business's fifty day moving average is $11.37 and its two-hundred day moving average is $11.16. Alphatec has a fifty-two week low of $4.88 and a fifty-two week high of $13.89.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Canaccord Genuity Group restated a "buy" rating and set a $20.00 price target on shares of Alphatec in a report on Friday. Piper Sandler reaffirmed an "overweight" rating and issued a $15.00 target price (up previously from $13.00) on shares of Alphatec in a research note on Friday, May 2nd. Needham & Company LLC restated a "buy" rating and set a $16.00 target price on shares of Alphatec in a report on Friday, May 2nd. Lake Street Capital raised Alphatec to a "buy" rating and set a $18.00 price objective on the stock in a research report on Monday, June 16th. Finally, HC Wainwright reissued a "buy" rating and set a $20.00 target price on shares of Alphatec in a research note on Monday, April 14th. 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.com, Alphatec has an average rating of "Moderate Buy" and an average price target of $18.33.

Insider Activity at Alphatec

In other news, Director Karen K. Mcginnis sold 3,963 shares of the company's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $12.11, for a total transaction of $47,991.93. Following the completion of the transaction, the director owned 68,709 shares of the company's stock, valued at approximately $832,065.99. This represents a 5.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Scott Lish sold 3,982 shares of the company's stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $12.00, for a total transaction of $47,784.00. Following the sale, the chief operating officer directly owned 744,936 shares in the company, valued at $8,939,232. This represents a 0.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 299,547 shares of company stock worth $3,698,956. Corporate insiders own 20.90% of the company's stock.

Institutional Trading of Alphatec

A number of hedge funds have recently added to or reduced their stakes in the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Alphatec by 18.4% during 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 buying an additional 41,264 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Alphatec by 4.5% during 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 buying an additional 3,196 shares during the period. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Alphatec during the first quarter valued at approximately $257,000. Institutional investors and hedge funds own 66.35% of the company's stock.

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.

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