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Alphatec (ATEC) Surges 8.8%: Is This an Indication of Further Gains?
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Alphatec (ATEC - Free Report) shares ended the last trading session 8.8% higher at $17.68. 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 13.5% gain over the past four weeks.
Alphatec scored a strong price increase, driven by investor’s optimism surrounding the company’s recent presentations at a series of investor conferences.
In the last reported quarter, the company’s top line grew 54% year over year, including surgical revenue growth of 55%. The recent acquisition of the REMI Robotic Navigation System advances Alphatec’s procedural strategy by integrating navigation and robotics into spine workflow. This might have further boosted investor’s confidence in the stock.
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 +16.7%. Revenues are expected to be $110.18 million, up 30.9% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Alphatec, the consensus EPS estimate for the quarter has been revised 2.1% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. 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 a member of the Zacks Medical - Instruments industry. One other stock in the same industry, RxSight, Inc. (RXST - Free Report) , finished the last trading session 2.1% lower at $25.47. RXST has returned -0.8% over the past month.
For RxSight, Inc., the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.47. This represents a change of +6% from what the company reported a year ago. RxSight, Inc. currently has a Zacks Rank of #3 (Hold).
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Alphatec (ATEC) Surges 8.8%: Is This an Indication of Further Gains?
Alphatec (ATEC - Free Report) shares ended the last trading session 8.8% higher at $17.68. 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 13.5% gain over the past four weeks.
Alphatec scored a strong price increase, driven by investor’s optimism surrounding the company’s recent presentations at a series of investor conferences.
In the last reported quarter, the company’s top line grew 54% year over year, including surgical revenue growth of 55%. The recent acquisition of the REMI Robotic Navigation System advances Alphatec’s procedural strategy by integrating navigation and robotics into spine workflow. This might have further boosted investor’s confidence in the stock.
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 +16.7%. Revenues are expected to be $110.18 million, up 30.9% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Alphatec, the consensus EPS estimate for the quarter has been revised 2.1% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. 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 a member of the Zacks Medical - Instruments industry. One other stock in the same industry, RxSight, Inc. (RXST - Free Report) , finished the last trading session 2.1% lower at $25.47. RXST has returned -0.8% over the past month.
For RxSight, Inc., the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.47. This represents a change of +6% from what the company reported a year ago. RxSight, Inc. currently has a Zacks Rank of #3 (Hold).