Alphatec Holdings Up 6.6% To $10.99 After Earnings Miss

Alphatec Holdings (ATEC) said after close Monday that it lost $0.35 per share in quarter three 2023.

On the revenue line, the company reported $118.3 million, beating estimates by $4.9 million.

In the same quarter a year ago, the company lost $0.35 per share on revenue of $89.8 million.

The stock is up 6.6% to $10.99 after the report.

The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.

The average recommendation from Wall Street analysts was a Strong Buy which may get revised based on this new data.

InvestorsObserver gives the stock a Bullish Sentiment score at the moment based on recent trading.

Alphatec Holdings has performed poorly during the past few months, garnering a low Long-Term Technical Rank by InvestorsObserver of 10, putting Alphatec Holdings in the bottom 25% of stocks. The firm was recently trading at a 52-week low of $8.66 on October 30, 2023 and set a 52-week high on July 17, 2023 at $19.14.

Alphatec Holdings Inc is a medical technology company focused on the design, development, and advancement of products for the surgical treatment of spinal disorders associated with disease and degeneration, congenital deformities, and trauma. The firm's spine approach technologies include Posterior Cervical Fusion, Anterior Cervical Discectomy and Fusion, Lateral Interbody Fusion, and Posterior Lumbar Interbody Fusion among others.