Alphatec (NASDAQ:ATEC) Shares Gap Down Following Weak Earnings

Alphatec Holdings, Inc. (NASDAQ:ATEC) shares gapped down prior to trading on Thursday following a dissappointing earnings announcement. The stock had previously closed at $11.06, but opened at $10.50. Alphatec shares last traded at $11.65, with a volume of 285,146 shares trading hands.

The medical technology company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.04). The business had revenue of $176.79 million for the quarter, compared to analysts’ expectations of $172.74 million. Alphatec had a negative net margin of 31.06% and a negative return on equity of 541.39%.

Analyst Ratings Changes

A number of research analysts have commented on the stock. StockNews.com raised shares of Alphatec from a “sell” rating to a “hold” rating in a research report on Friday. Needham & Company LLC reissued a “buy” rating and set a $16.00 target price on shares of Alphatec in a research report on Thursday. HC Wainwright reissued a “buy” rating and set a $20.00 target price on shares of Alphatec in a research report on Tuesday, January 14th. Piper Sandler raised their target price on shares of Alphatec from $12.00 to $13.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, Barclays lifted their price objective on shares of Alphatec from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.67.

Insider Transactions at Alphatec

In other Alphatec news, CEO Patrick Miles sold 6,687 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $12.00, for a total transaction of $80,244.00. Following the sale, the chief executive officer now owns 5,501,715 shares of the company’s stock, valued at approximately $66,020,580. The trade was a 0.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Scott Lish sold 27,453 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $11.49, for a total transaction of $315,434.97. Following the sale, the chief operating officer now directly owns 867,677 shares in the company, valued at approximately $9,969,608.73. This represents a 3.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 290,898 shares of company stock valued at $3,327,710 in the last 90 days. Insiders own 22.80% of the company’s stock.

Institutional Trading of Alphatec

Large investors have recently bought and sold shares of the stock. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in Alphatec by 11.3% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,928,094 shares of the medical technology company’s stock worth $16,280,000 after purchasing an additional 297,850 shares during the last quarter. Barclays PLC lifted its stake in Alphatec by 362.3% during the 3rd quarter. Barclays PLC now owns 170,546 shares of the medical technology company’s stock valued at $948,000 after acquiring an additional 133,653 shares during the period. Franklin Resources Inc. lifted its stake in Alphatec by 299.3% during the 3rd quarter. Franklin Resources Inc. now owns 64,450 shares of the medical technology company’s stock valued at $343,000 after acquiring an additional 48,308 shares during the period. AlphaCentric Advisors LLC acquired a new stake in Alphatec during the 3rd quarter valued at approximately $2,057,000. Finally, Royce & Associates LP lifted its stake in Alphatec by 15.9% during the 3rd quarter. Royce & Associates LP now owns 1,212,286 shares of the medical technology company’s stock valued at $6,740,000 after acquiring an additional 165,954 shares during the period. Hedge funds and other institutional investors own 66.35% of the company’s stock.

Alphatec Stock Performance

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 firm’s 50 day simple moving average is $10.63 and its 200 day simple moving average is $8.37. The firm has a market capitalization of $1.78 billion, a price-to-earnings ratio of -9.79 and a beta of 1.43.

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.