Alphatec (ATEC) to Release Earnings on Tuesday

Alphatec (NASDAQ:ATEC) is scheduled to 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.Investors interested in participating in the company’s conference call can do so using this link.

Alphatec (NASDAQ:ATEC) last issued its quarterly earnings data on Tuesday, February 27th. The medical technology company reported ($0.37) EPS for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.09). The company had revenue of $138.00 million for the quarter, compared to analysts’ expectations of $131.90 million. During the same quarter last year, the firm posted ($0.33) earnings per share. The company’s revenue was up 30.3% compared to the same quarter last year. 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 1.2 %

ATEC stock opened at $12.59 on Tuesday. The company has a current ratio of 2.86, a quick ratio of 1.99 and a debt-to-equity ratio of 6.54. The company’s 50 day simple moving average is $13.57 and its 200-day simple moving average is $13.50. Alphatec has a 12 month low of $8.66 and a 12 month high of $19.14.

Insiders Place Their Bets

In other news, EVP Craig E. Hunsaker sold 41,560 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $15.05, for a total transaction of $625,478.00. Following the completion of the sale, the executive vice president now owns 1,188,444 shares in the company, valued at approximately $17,886,082.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Alphatec news, EVP Craig E. Hunsaker sold 41,560 shares of Alphatec stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $15.05, for a total transaction of $625,478.00. Following the transaction, the executive vice president now directly owns 1,188,444 shares of the company’s stock, valued at $17,886,082.20. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO John Todd Koning sold 37,500 shares of the stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $12.82, for a total transaction of $480,750.00. Following the completion of the sale, the chief financial officer now directly owns 393,356 shares of the company’s stock, valued at approximately $5,042,823.92. The disclosure for this sale can be found here. Insiders sold 285,069 shares of company stock worth $3,971,495 over the last three months. 29.12% of the stock is owned by insiders.

Analysts Set New Price Targets

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

Alphatec Company Profile

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.