Alphatec (ATEC) Set to Announce Quarterly Earnings on Tuesday

Alphatec (NASDAQ:ATEC) will be posting its quarterly earnings results after the market closes on Tuesday, May 7th. Analysts expect Alphatec to post earnings of ($0.33) per share for the quarter. Alphatec has set its FY 2024 guidance at EPS.Persons interested in listening to the company’s earnings conference call can do so using this link.

Alphatec (NASDAQ:ATEC) last posted its quarterly earnings results on Tuesday, February 27th. The medical technology company reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by ($0.09). The firm had revenue of $138.00 million for the quarter, compared to the consensus estimate of $131.90 million. The firm’s revenue for the quarter was up 30.3% on a year-over-year basis. During the same quarter in the prior year, the business posted ($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 Stock Up 3.3 %

ATEC opened at $13.65 on Friday. The company has a 50 day moving average of $13.39 and a 200 day moving average of $13.53. The company has a current ratio of 2.86, a quick ratio of 1.99 and a debt-to-equity ratio of 6.54. Alphatec has a 12 month low of $8.66 and a 12 month high of $19.14. The company has a market cap of $1.91 billion, a PE ratio of -8.81 and a beta of 1.48.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. HC Wainwright reiterated a “buy” rating and issued a $20.00 price target on shares of Alphatec in a research report on Monday, March 4th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $25.00 target price on shares of Alphatec in a report on Wednesday, March 20th. Wells Fargo & Company began coverage on shares of Alphatec in a report on Friday, February 9th. They issued an “overweight” rating and a $26.00 price target on the stock. Finally, Needham & Company LLC boosted their price objective on shares of Alphatec from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Thursday, March 28th. One equities research analyst has rated the stock with a sell rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Alphatec has an average rating of “Moderate Buy” and an average target price of $23.63.

Insider Activity

In related news, EVP Craig E. Hunsaker sold 41,560 shares of the company’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 value of $625,478.00. Following the transaction, the executive vice president now directly owns 1,188,444 shares in the company, valued at $17,886,082.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, General Counsel Tyson Eliot Marshall sold 11,825 shares of the company’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 $157,272.50. Following the completion of the transaction, the general counsel now directly owns 305,095 shares in the company, valued at $4,057,763.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Craig E. Hunsaker sold 41,560 shares of the 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 directly 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 worth $3,971,495. 29.12% of the stock is currently owned by 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.