Alphatec (NASDAQ:ATEC) Issues Quarterly Earnings Results, Misses Expectations By $0.01 EPS

Alphatec (NASDAQ:ATEC - Get Free Report) announced 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 company had revenue of $138.48 million for the quarter, compared to analyst estimates of $134.07 million. The business's revenue for the quarter was up 26.9% compared to the same quarter last year. During the same period last year, the firm earned ($0.40) earnings per share.

Alphatec Price Performance

ATEC stock traded down $2.98 during mid-day trading on Wednesday, hitting $10.60. The stock had a trading volume of 9,056,711 shares, compared to its average volume of 1,670,841. The firm has a fifty day simple moving average of $13.25 and a 200 day simple moving average of $13.54. Alphatec has a 52 week low of $8.66 and a 52 week high of $19.14. The company has a current ratio of 2.86, a quick ratio of 1.99 and a debt-to-equity ratio of 6.54. The firm has a market capitalization of $1.48 billion, a P/E ratio of -6.84 and a beta of 1.48.

Insider Transactions at Alphatec

In other Alphatec news, EVP Craig E. Hunsaker sold 41,560 shares of the business's stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $15.05, for a total transaction of $625,478.00. Following the completion of the transaction, the executive vice president now directly owns 1,188,444 shares in the company, valued at $17,886,082.20. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CFO John Todd Koning sold 121,601 shares of the company's stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $13.30, for a total transaction of $1,617,293.30. Following the completion of the transaction, the chief financial officer now directly owns 430,856 shares in the company, valued at approximately $5,730,384.80. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Craig E. Hunsaker sold 41,560 shares of the firm's stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $15.05, for a total transaction of $625,478.00. Following the completion of the sale, the executive vice president now owns 1,188,444 shares in the company, valued at approximately $17,886,082.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 285,069 shares of company stock valued at $3,971,495. Company insiders own 29.12% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on ATEC shares. Needham & Company LLC restated a "buy" rating and set a $23.00 price objective on shares of Alphatec in a report on Wednesday. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $25.00 price objective on shares of Alphatec in a report on Wednesday, March 20th. Wells Fargo & Company began coverage on Alphatec in a report on Friday, February 9th. They set an "overweight" rating and a $26.00 target price for the company. HC Wainwright restated a "buy" rating and issued a $20.00 price target on shares of Alphatec in a research note on Monday, March 4th. Finally, Piper Sandler dropped their price objective on shares of Alphatec from $19.00 to $17.00 and set an "overweight" rating for the company in a research note on Wednesday. One investment analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $22.89.

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.