Alphatec (ATEC) Posts Quarterly Earnings Results

Alphatec (NASDAQ:ATEC) issued its earnings results on Thursday. The medical technology company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.09), Morningstar.com reports. Alphatec had a negative return on equity of 1,326.38% and a negative net margin of 3.32%. The company had revenue of $23.00 million for the quarter, compared to analysts’ expectations of $23.92 million.

Shares of Alphatec stock traded down $0.21 on Friday, hitting $2.98. The company’s stock had a trading volume of 157,185 shares, compared to its average volume of 82,652. Alphatec has a 52-week low of $2.31 and a 52-week high of $4.21. The company has a quick ratio of 1.67, a current ratio of 2.47 and a debt-to-equity ratio of 1.11. The firm has a market capitalization of $128.46 million, a PE ratio of -8.28 and a beta of 1.35.

ATEC has been the topic of several recent research reports. HC Wainwright reiterated a “buy” rating and issued a $4.00 price objective on shares of Alphatec in a research report on Friday, August 3rd. Zacks Investment Research lowered shares of Alphatec from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 8th.

Institutional investors have recently added to or reduced their stakes in the stock. Macquarie Group Ltd. purchased a new stake in shares of Alphatec in the 2nd quarter worth about $116,000. StepStone Group LP purchased a new stake in shares of Alphatec in the 2nd quarter worth about $125,000. JPMorgan Chase & Co. purchased a new stake in shares of Alphatec in the 3rd quarter worth about $165,000. Acadian Asset Management LLC purchased a new stake in shares of Alphatec in the 2nd quarter worth about $171,000. Finally, PNC Financial Services Group Inc. purchased a new stake in shares of Alphatec in the 3rd quarter worth about $548,000. Institutional investors and hedge funds own 21.48% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: This report was first posted by American Banking News and is the property of of American Banking News. If you are accessing this report on another publication, it was stolen and reposted in violation of U.S. & international copyright laws. The correct version of this report can be read at https://www.americanbankingnews.com/2018/11/10/alphatec-atec-posts-quarterly-earnings-results.html.

About Alphatec

Alphatec Holdings, Inc, a medical technology company, focuses on the design, development, and promotion of products for the surgical treatment of spine disorders. Its product portfolio and pipeline address the cervical, thoracolumbar, and intervertebral regions of the spine; and cover various spinal disorders and surgical procedures.

Recommended Story: What is a Reverse Stock Split?

Earnings History for Alphatec (NASDAQ:ATEC)

Receive News & Ratings for Alphatec Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphatec and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply