Alphatec (NASDAQ:ATEC) Releases Earnings Results, Misses Estimates By $0.04 EPS

Alphatec (NASDAQ:ATEC) announced its quarterly earnings data on Wednesday. The medical technology company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.04), Zacks reports. Alphatec had a negative return on equity of 541.39% and a negative net margin of 31.06%.

Alphatec Price Performance

Shares of Alphatec stock traded up $0.50 during mid-day trading on Wednesday, reaching $11.06. 2,446,587 shares of the stock traded hands, compared to its average volume of 1,638,907. The company has a quick ratio of 1.15, a current ratio of 2.32 and a debt-to-equity ratio of 30.21. The business has a 50-day moving average of $10.52 and a 200 day moving average of $8.33. The stock has a market capitalization of $1.57 billion, a PE ratio of -8.64 and a beta of 1.43. Alphatec has a fifty-two week low of $4.88 and a fifty-two week high of $15.41.

Insider Buying and Selling

In other news, EVP David Sponsel sold 58,283 shares of the company’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $10.71, for a total transaction of $624,210.93. Following the completion of the sale, the executive vice president now owns 502,311 shares of the company’s stock, valued at $5,379,750.81. This represents a 10.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Patrick Miles sold 6,687 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $12.00, for a total transaction of $80,244.00. Following the completion of the transaction, the chief executive officer now directly owns 5,501,715 shares in the company, valued at approximately $66,020,580. This represents a 0.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 222,376 shares of company stock worth $2,557,148. 22.80% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ATEC. HC Wainwright reaffirmed a “buy” rating and issued a $20.00 price target on shares of Alphatec in a research report on Tuesday, January 14th. Needham & Company LLC raised their price target on shares of Alphatec from $13.00 to $16.00 and gave the company a “buy” rating in a report on Monday, January 13th. Finally, Barclays lifted their price target on shares of Alphatec from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Alphatec currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.56.

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.