Alphatec (ATEC) Set to Announce Quarterly Earnings on Tuesday

Alphatec (NASDAQ:ATEC - Get Free Report) is scheduled to be issuing its quarterly earnings data after the market closes on Tuesday, May 7th. Analysts expect the company to post earnings of ($0.33) per share for the quarter. Alphatec has set its FY 2024 guidance at EPS.Persons that are interested in participating in the company's earnings conference call can do so using this link.

Alphatec (NASDAQ:ATEC - Get Free Report) last released its earnings results on Tuesday, February 27th. The medical technology company reported ($0.37) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.28) by ($0.09). The firm had revenue of $138.00 million for the quarter, compared to analyst estimates of $131.90 million. The firm's quarterly revenue was up 30.3% on a year-over-year basis. During the same period last year, the firm earned ($0.33) earnings per share. On average, analysts expect Alphatec to post $-1 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Alphatec Price Performance

ATEC traded up $0.03 on Tuesday, reaching $12.62. 1,132,446 shares of the company's stock were exchanged, compared to its average volume of 1,606,239. The stock has a market cap of $1.74 billion, a PE ratio of -8.14 and a beta of 1.55. The company has a debt-to-equity ratio of 6.54, a current ratio of 2.86 and a quick ratio of 1.99. Alphatec has a twelve month low of $8.66 and a twelve month high of $19.14. The stock's fifty day moving average price is $13.52 and its 200-day moving average price is $13.51.

Analyst Upgrades and Downgrades

ATEC has been the topic of a number of analyst reports. Canaccord Genuity Group reiterated a "buy" rating and set a $25.00 price objective on shares of Alphatec in a research report on Wednesday, March 20th. Needham & Company LLC raised their price objective on shares of Alphatec from $22.00 to $23.00 and gave the stock a "buy" rating in a research report on Thursday, March 28th. HC Wainwright reiterated a "buy" rating and issued a $20.00 target price on shares of Alphatec in a report on Monday, March 4th. Finally, Wells Fargo & Company initiated coverage on shares of Alphatec in a research note on Friday, February 9th. They issued an "overweight" rating and a $26.00 price target for the company. One research analyst has rated the stock with a sell rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $23.63.

Insider Activity at Alphatec

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