$78.06 Million in Sales Expected for Alphatec Holdings, Inc. (NASDAQ:ATEC) This Quarter

Analysts expect Alphatec Holdings, Inc. (NASDAQ:ATECGet Rating) to post $78.06 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Alphatec’s earnings. The lowest sales estimate is $76.79 million and the highest is $78.80 million. Alphatec posted sales of $62.25 million in the same quarter last year, which suggests a positive year-over-year growth rate of 25.4%. The firm is expected to report its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that Alphatec will report full-year sales of $316.21 million for the current financial year, with estimates ranging from $315.80 million to $316.83 million. For the next financial year, analysts anticipate that the firm will report sales of $393.22 million, with estimates ranging from $391.58 million to $395.37 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for Alphatec.

Alphatec (NASDAQ:ATECGet Rating) last announced its earnings results on Thursday, May 5th. The medical technology company reported ($0.43) EPS for the quarter, missing the consensus estimate of ($0.29) by ($0.14). Alphatec had a negative net margin of 60.83% and a negative return on equity of 147.10%. The company had revenue of $70.93 million during the quarter, compared to the consensus estimate of $67.72 million.

ATEC has been the topic of several recent analyst reports. StockNews.com initiated coverage on Alphatec in a research note on Thursday, March 31st. They issued a “sell” rating on the stock. Zacks Investment Research lowered Alphatec from a “hold” rating to a “sell” rating in a research note on Tuesday, May 10th. Piper Sandler dropped their price target on Alphatec from $22.00 to $17.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 2nd. Needham & Company LLC dropped their price target on Alphatec from $15.00 to $13.00 and set a “buy” rating on the stock in a research note on Thursday, May 26th. Finally, HC Wainwright boosted their price target on Alphatec from $19.00 to $20.00 in a research note on Friday, May 6th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $18.71.

Shares of ATEC opened at $7.40 on Monday. Alphatec has a 52-week low of $6.92 and a 52-week high of $16.47. The company has a debt-to-equity ratio of 7.78, a quick ratio of 1.76 and a current ratio of 2.62. The business’s 50 day moving average price is $10.24 and its two-hundred day moving average price is $10.75. The firm has a market cap of $753.02 million, a PE ratio of -4.48 and a beta of 1.59.

In related news, CEO Patrick Miles sold 100,000 shares of the stock in a transaction on Wednesday, May 18th. The stock was sold at an average price of $8.34, for a total value of $834,000.00. Following the completion of the sale, the chief executive officer now directly owns 5,858,634 shares of the company’s stock, valued at approximately $48,861,007.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Craig E. Hunsaker sold 70,000 shares of the stock in a transaction on Wednesday, June 1st. The shares were sold at an average price of $7.16, for a total value of $501,200.00. Following the completion of the sale, the executive vice president now directly owns 1,362,229 shares of the company’s stock, valued at $9,753,559.64. The disclosure for this sale can be found here. Over the last ninety days, insiders have bought 9,100 shares of company stock worth $83,024 and have sold 271,630 shares worth $2,141,374. 34.38% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ATEC. Wells Fargo & Company MN raised its position in Alphatec by 30.7% in the 2nd quarter. Wells Fargo & Company MN now owns 131,286 shares of the medical technology company’s stock valued at $2,011,000 after buying an additional 30,804 shares during the last quarter. Morgan Stanley grew its stake in Alphatec by 69.8% in the 2nd quarter. Morgan Stanley now owns 542,189 shares of the medical technology company’s stock valued at $8,306,000 after purchasing an additional 222,958 shares during the period. Barclays PLC grew its stake in Alphatec by 104.8% in the 3rd quarter. Barclays PLC now owns 28,897 shares of the medical technology company’s stock valued at $352,000 after purchasing an additional 14,785 shares during the period. Citigroup Inc. grew its stake in Alphatec by 73.4% in the 3rd quarter. Citigroup Inc. now owns 9,308 shares of the medical technology company’s stock valued at $113,000 after purchasing an additional 3,941 shares during the period. Finally, Goldman Sachs Group Inc. grew its stake in Alphatec by 83.0% in the 3rd quarter. Goldman Sachs Group Inc. now owns 314,456 shares of the medical technology company’s stock valued at $3,833,000 after purchasing an additional 142,612 shares during the period. 53.52% of the stock is owned by institutional investors and hedge funds.

About Alphatec (Get Rating)

Alphatec Holdings, Inc, a medical technology company, designs, develops, and advances technologies for the surgical treatment of spinal disorders. The company offers SafeOp Neural InformatiX System, an Alpha InformatiX product platform designed to reduce the risk of intraoperative nerve injury; Sigma transforaminal lumbar interbody fusion pedicle-based access system that provides direct visualization of anatomical landmarks; Sigma PTP Access and Patient Positioning System; squadron lateral retractor designed to maximize patient outcomes; Invictus Spinal Fixation System, a thoracolumbar fixation system to treat a range of pathologies; and Invictus MIS SingleStep System that provides minimally invasive pedicle screw placement.

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