Alphatec (ATEC) Releases Earnings Results, Misses Estimates By $0.09 EPS

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

Shares of NASDAQ ATEC traded down $0.21 on Friday, reaching $2.98. 157,185 shares of the company traded hands, compared to its average volume of 82,652. Alphatec has a fifty-two week low of $2.31 and a fifty-two week high of $4.21. The company has a debt-to-equity ratio of 1.11, a current ratio of 2.47 and a quick ratio of 1.67. The company has a market cap of $128.46 million, a P/E ratio of -8.28 and a beta of 1.35.

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

ATEC has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of Alphatec from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 3rd. HC Wainwright reaffirmed a “buy” rating and set a $4.00 price objective on shares of Alphatec in a research note on Friday, August 3rd.

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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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