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Alphatec (ATEC) Soars 8.4%: Is Further Upside Left in the Stock?
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Alphatec (ATEC - Free Report) shares ended the last trading session 8.4% higher at $14. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 7.2% gain over the past four weeks.
Alphatec recorded a strong price rise on investors’ optimism surrounding its upbeat preliminary financial results for the fourth quarter and full year. Going by the preliminary announcement. full-year 2022 total revenue grew approximately 44% to over $350 million. In January, Alphatec entered into a five-year agreement with Braidwell LP -- an investment manager that has agreed to make a term loan of up to $150 million. Per management, the transaction is likely to strengthen Alphatec’s balance sheet with additional capital that will allow company to continue to advance patient care and, as a result, create shareholder value, thereby boosting investors’ confidence.
This medical equipment and supplies holding company is expected to post quarterly loss of $0.30 per share in its upcoming report, which represents a year-over-year change of +25%. Revenues are expected to be $105.7 million, up 42.9% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Alphatec, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on ATEC going forward to see if this recent jump can turn into more strength down the road.
Alphatec is part of the Zacks Medical - Instruments industry. Aspira (AWH - Free Report) , another stock in the same industry, closed the last trading session 2.1% lower at $0.57. AWH has returned 29.3% in the past month.
Aspira's consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.06. Compared to the company's year-ago EPS, this represents a change of +25%. Aspira currently boasts a Zacks Rank of #2 (Buy),
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Alphatec (ATEC) Soars 8.4%: Is Further Upside Left in the Stock?
Alphatec (ATEC - Free Report) shares ended the last trading session 8.4% higher at $14. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 7.2% gain over the past four weeks.
Alphatec recorded a strong price rise on investors’ optimism surrounding its upbeat preliminary financial results for the fourth quarter and full year. Going by the preliminary announcement. full-year 2022 total revenue grew approximately 44% to over $350 million. In January, Alphatec entered into a five-year agreement with Braidwell LP -- an investment manager that has agreed to make a term loan of up to $150 million. Per management, the transaction is likely to strengthen Alphatec’s balance sheet with additional capital that will allow company to continue to advance patient care and, as a result, create shareholder value, thereby boosting investors’ confidence.
This medical equipment and supplies holding company is expected to post quarterly loss of $0.30 per share in its upcoming report, which represents a year-over-year change of +25%. Revenues are expected to be $105.7 million, up 42.9% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Alphatec, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on ATEC going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Alphatec is part of the Zacks Medical - Instruments industry. Aspira (AWH - Free Report) , another stock in the same industry, closed the last trading session 2.1% lower at $0.57. AWH has returned 29.3% in the past month.
Aspira's consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.06. Compared to the company's year-ago EPS, this represents a change of +25%. Aspira currently boasts a Zacks Rank of #2 (Buy),