Alphatec (NASDAQ:ATEC) Posts Earnings Results, Meets Expectations

Alphatec (NASDAQ:ATEC) posted its quarterly earnings results on Tuesday. The medical technology company reported $0.07 EPS for the quarter, hitting analysts’ consensus estimates of $0.07, FiscalAI reports. Alphatec had a negative net margin of 15.93% and a negative return on equity of 1,183.84%.

Alphatec Stock Up 2.0%

Alphatec stock traded up $0.20 during mid-day trading on Tuesday, reaching $10.35. 4,374,439 shares of the company were exchanged, compared to its average volume of 3,149,060. The business has a fifty day moving average of $8.66 and a 200 day moving average of $10.87. The company has a debt-to-equity ratio of 40.35, a quick ratio of 1.12 and a current ratio of 1.90. The firm has a market cap of $1.59 billion, a P/E ratio of -12.62 and a beta of 0.85. Alphatec has a 12-month low of $6.82 and a 12-month high of $23.29.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on ATEC shares. HC Wainwright reaffirmed a “buy” rating and set a $24.00 target price on shares of Alphatec in a research report on Thursday, May 7th. Stephens began coverage on Alphatec in a research note on Thursday, July 23rd. They issued an “overweight” rating and a $15.00 price objective on the stock. Canaccord Genuity Group decreased their target price on Alphatec from $25.00 to $23.00 and set a “buy” rating for the company in a research report on Wednesday, May 6th. Piper Sandler reiterated an “overweight” rating and issued a $14.00 target price (down from $25.00) on shares of Alphatec in a report on Wednesday, May 6th. Finally, JPMorgan Chase & Co. cut their price target on Alphatec from $24.00 to $16.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $17.13.

Insider Activity

In other news, Director Karen K. Mcginnis sold 6,050 shares of Alphatec stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $8.01, for a total value of $48,460.50. Following the transaction, the director directly owned 94,671 shares in the company, valued at approximately $758,314.71. This trade represents a 6.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 13.48% of the company’s stock.

Institutional Investors Weigh In On Alphatec

Institutional investors have recently added to or reduced their stakes in the stock. Van ECK Associates Corp increased its position in shares of Alphatec by 26.1% during the fourth quarter. Van ECK Associates Corp now owns 11,318 shares of the medical technology company’s stock worth $238,000 after purchasing an additional 2,342 shares in the last quarter. CIBC Bancorp USA Inc. acquired a new stake in shares of Alphatec in the 3rd quarter worth $180,000. Voleon Capital Management LP acquired a new stake in shares of Alphatec in the 3rd quarter worth $290,000. Prelude Capital Management LLC grew its stake in Alphatec by 38.6% during the 3rd quarter. Prelude Capital Management LLC now owns 20,338 shares of the medical technology company’s stock worth $296,000 after buying an additional 5,666 shares during the last quarter. Finally, Man Group plc purchased a new position in Alphatec during the 3rd quarter worth $283,000. Institutional investors own 66.35% of the company’s stock.

Alphatec Company Profile

Alphatec Holdings, Inc (NASDAQ: ATEC) is a medical technology company focused on the design, development and commercialization of products for the surgical correction of degenerative spinal conditions. The company’s portfolio centers on interbody implants, biologics, fixation devices and surgical planning tools intended to improve patient outcomes in spinal fusion procedures. Alphatec’s flagship offerings include customizable interbody cages, bone graft materials and specialized instrumentation designed for minimally invasive and open spinal surgeries.

Founded as Alphatec Spine in 1985 and rebranded as Alphatec Holdings in 2018, the company has grown from a single-product organization into a multi-platform innovator in the spine market.