Alphatec (ATEC) Posts Quarterly Earnings Results

Alphatec (NASDAQ:ATEC) posted its quarterly earnings results on Thursday. The medical technology company reported ($0.22) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.13) by ($0.09), Morningstar.com reports. The company had revenue of $23.00 million for the quarter, compared to analyst estimates of $23.92 million. Alphatec had a negative return on equity of 1,326.38% and a negative net margin of 3.32%.

Shares of NASDAQ ATEC traded down $0.21 during midday trading on Friday, hitting $2.98. 157,185 shares of the company’s stock were exchanged, compared to its average volume of 82,652. The company has a current ratio of 2.47, a quick ratio of 1.67 and a debt-to-equity ratio of 1.11. Alphatec has a 12 month low of $2.31 and a 12 month high of $4.21. The company has a market capitalization of $128.46 million, a P/E ratio of -8.28 and a beta of 1.35.

Several research firms have weighed in on ATEC. HC Wainwright reaffirmed a “buy” rating and set a $4.00 price target on shares of Alphatec in a research report on Friday, August 3rd. Zacks Investment Research lowered Alphatec from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 8th.

Several hedge funds and other institutional investors have recently modified their holdings of ATEC. Acadian Asset Management LLC bought a new position in shares of Alphatec during the 2nd quarter worth approximately $171,000. Chubb Ltd bought a new stake in Alphatec in the 2nd quarter valued at $1,419,000. BlackRock Inc. boosted its stake in Alphatec by 32.9% in the 2nd quarter. BlackRock Inc. now owns 196,555 shares of the medical technology company’s stock valued at $585,000 after purchasing an additional 48,688 shares during the period. StepStone Group LP bought a new stake in Alphatec in the 2nd quarter valued at $125,000. Finally, Renaissance Technologies LLC boosted its stake in Alphatec by 29.4% in the 2nd quarter. Renaissance Technologies LLC now owns 484,645 shares of the medical technology company’s stock valued at $1,444,000 after purchasing an additional 110,058 shares during the period. Institutional investors own 21.48% of the company’s stock.

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About Alphatec

Alphatec Holdings, Inc, a medical technology company, focuses on the design, development, and promotion of products for the surgical treatment of spine disorders. Its product portfolio and pipeline address the cervical, thoracolumbar, and intervertebral regions of the spine; and cover various spinal disorders and surgical procedures.

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Earnings History for Alphatec (NASDAQ:ATEC)

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