Alphatec (NASDAQ:ATEC – Get Free Report) announced its quarterly earnings data on Wednesday. The medical technology company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.03), Briefing.com reports. The business had revenue of $145.57 million during the quarter, compared to analysts’ expectations of $144.55 million. Alphatec had a negative net margin of 37.45% and a negative return on equity of 1,767.81%. Alphatec’s revenue for the quarter was up 24.5% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.43) EPS. Alphatec updated its FY 2024 guidance to EPS.
Alphatec Stock Down 34.3 %
Alphatec stock traded down $3.46 during mid-day trading on Thursday, hitting $6.64. 15,639,508 shares of the company’s stock were exchanged, compared to its average volume of 1,700,246. The company has a current ratio of 2.39, a quick ratio of 1.49 and a debt-to-equity ratio of 13.63. The stock has a market cap of $928.80 million, a P/E ratio of -4.67 and a beta of 1.40. Alphatec has a 1-year low of $6.51 and a 1-year high of $18.32. The stock has a 50 day moving average of $10.45 and a two-hundred day moving average of $12.71.
Insider Buying and Selling at Alphatec
In other Alphatec news, General Counsel Tyson Eliot Marshall sold 50,232 shares of the company’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $10.88, for a total transaction of $546,524.16. Following the completion of the sale, the general counsel now directly owns 245,638 shares in the company, valued at $2,672,541.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 22.80% of the company’s stock.
Analyst Ratings Changes
Check Out Our Latest Stock Analysis on Alphatec
About Alphatec
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.
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