Alphatec (ATEC) to Release Quarterly Earnings on Wednesday

Alphatec (NASDAQ:ATEC) is scheduled to issue its quarterly earnings data after the market closes on Wednesday, October 30th. Analysts expect the company to announce earnings of ($0.27) per share for the quarter. Alphatec has set its FY 2024 guidance at EPS.Parties that wish to register for the company’s conference call can do so using this link.

Alphatec (NASDAQ:ATEC) last released its earnings results on Wednesday, July 31st. The medical technology company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.03). Alphatec had a negative net margin of 33.48% and a negative return on equity of 816.57%. The company had revenue of $145.57 million for the quarter, compared to the consensus estimate of $144.55 million. During the same quarter in the previous year, the company posted ($0.43) earnings per share. The business’s revenue was up 24.5% 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 Price Performance

Shares of ATEC stock opened at $5.27 on Tuesday. The company has a market cap of $737.19 million, a P/E ratio of -3.54 and a beta of 1.39. The company has a quick ratio of 1.21, a current ratio of 2.22 and a debt-to-equity ratio of 30.21. Alphatec has a twelve month low of $4.88 and a twelve month high of $17.34. The business has a fifty day simple moving average of $5.74 and a 200 day simple moving average of $8.77.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Canaccord Genuity Group reissued a “buy” rating and issued a $20.00 price objective on shares of Alphatec in a research note on Friday, August 30th. Piper Sandler decreased their target price on Alphatec from $17.00 to $12.00 and set an “overweight” rating for the company in a research report on Thursday, August 1st. Needham & Company LLC cut their price target on Alphatec from $23.00 to $13.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Morgan Stanley cut Alphatec from an “overweight” rating to an “equal weight” rating in a research note on Thursday, August 1st. Finally, Barclays initiated coverage on Alphatec in a research report on Monday, July 8th. They set an “overweight” rating and a $19.00 target price on the stock. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $17.00.

Insider Buying and Selling

In related news, Director David M. Demski acquired 50,000 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were acquired at an average cost of $5.67 per share, for a total transaction of $283,500.00. Following the purchase, the director now owns 288,441 shares in the company, valued at approximately $1,635,460.47. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 22.80% of the stock is currently owned by corporate insiders.

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.