Alphatec (NASDAQ:ATEC) Announces Quarterly Earnings Results

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

Alphatec Price Performance

NASDAQ:ATEC traded up $0.50 during trading hours on Wednesday, reaching $11.06. The stock had a trading volume of 2,446,587 shares, compared to its average volume of 1,638,907. The company has a debt-to-equity ratio of 30.21, a quick ratio of 1.15 and a current ratio of 2.32. 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 52 week low of $4.88 and a 52 week high of $15.41. The company has a 50 day moving average price of $10.52 and a two-hundred day moving average price of $8.33.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on ATEC shares. Needham & Company LLC lifted their target price on Alphatec from $13.00 to $16.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Barclays boosted their price objective on Alphatec from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Finally, HC Wainwright restated a “buy” rating and set a $20.00 target price on shares of Alphatec in a research note on Tuesday, January 14th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $17.56.

Insider Buying and Selling

In related news, CEO Patrick Miles sold 50,000 shares of the firm’s stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $12.03, for a total value of $601,500.00. Following the completion of the sale, the chief executive officer now directly owns 6,152,544 shares in the company, valued at $74,015,104.32. This trade represents a 0.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP David Sponsel sold 58,283 shares of Alphatec stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $10.71, for a total transaction of $624,210.93. Following the transaction, the executive vice president now directly owns 502,311 shares of the company’s stock, valued at approximately $5,379,750.81. This represents a 10.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 222,376 shares of company stock worth $2,557,148. Insiders own 22.80% of the company’s stock.

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.