|Over a week ago|
Alphatec CFO change 'surprising but manageable,' says Piper Sandler » 11:3504/0804/08/21
Piper Sandler analyst…
Piper Sandler analyst Matt O'Brien noted that Alphatec preannounced first quarter revenue that beat his forecast and raised its full year revenue growth view along with announcing that Jeffrey Black, its current CFO, has resigned to pursue opportunities "outside of spine." While he admits "CFO transitions are always a bit scary," O'Brien views this one as manageable as he argues that the company is "moving from one highly capable executive to another one" in J. Todd Koning, who most recently served as SVP of Finance and Chief Accounting Officer at Masimo. The analyst, who thinks the company's increased full year revenue growth view is "achievable, if not again beatable," has an Overweight rating and $19 price target on Alphatec.
Alphatec announces AMF clearance of tender offer for EOS Imaging » 09:0904/0804/08/21
On March 30, 2021, the…
On March 30, 2021, the AMF cleared the Company's tender offer for EOS. As a result, on April 1, 2021, ATEC commenced its public offer to purchase for cash all EOS issued and outstanding ordinary shares and all outstanding convertible bonds for a total purchase price of approximately $117 million. As previously disclosed by the Company, the offer will remain open for an initial acceptance period of 25 Euronext Paris trading days and, subject to the satisfaction or waiver of certain tender conditions, the initial tender may be followed by a reopened tender offer for a period of 10 additional Euronext Paris trading days. If ATEC owns 90% or more of EOS' share capital and voting rights following the close of either offer period, the Company will squeeze-out any remaining, non-tendered EOS shares, according to French law and regulation.
Alphatec appoints J. Todd Koning as CFO » 09:0804/0804/08/21
The Company announced the…
The Company announced the appointment of J. Todd Koning to the role of Chief Financial Officer. Mr. Koning succeeds Jeffrey Black, who has resigned as CFO, effective April 18, 2021, to pursue interests outside of spine, but will remain with the Company in a transition capacity through April 30, 2021. Koning's ATEC appointment follows three years with Masimo Corporation, where he most recently served as Senior Vice President of Finance and Chief Accounting Officer, responsible for corporate planning and analysis, global accounting, SEC reporting, financial systems, and investor outreach.
Alphatec sees Q1 revenue $43.7M-$44.1M, consensus $39.45M » 09:0604/0804/08/21
"Surgeon enthusiasm for the clinical sophistication we are demonstrating and our revitalized ATEC sales force continues to fuel strong revenue growth," said Pat Miles, Chairman and Chief Executive Officer. "We are creating tremendous momentum with market-shaping procedures like PTP, and are enjoying expanded adoption across our increasingly comprehensive and distinctive portfolio. At ATEC, we know our business is in the operating room and our success is directly correlated to our ability to improve spine surgery. Focused execution against that commitment drove strong first quarter results and gives us confidence that 2021 U.S. revenue growth will exceed 30%. This marks a solid start to another exciting year as we continue to raise the standard in spine."
Fly Intel: After-Hours Movers » 19:0903/3103/31/21
GES, MU, SPWH, WDC, WING, FUBO, XL, NCNO, FUV, PLAY, TLS, BTAI, TTOO, ATEC
Check out this evening's…
Alphatec files to sell 15.12M shares of common stock for holders 16:1803/3103/31/21
Alphatec announces Memphis distribution facility » 09:0503/2303/23/21
Alphatec Holdings announced the intention to lease a 75,000 square foot facility in Memphis, Tennessee, which will house ATEC's primary distribution operations. The new facility, from which ATEC will distribute all high-volume, commercially launched products, will allow for more expedient access to the nearby distribution centers, and with extended hours of operation, will significantly enhance the flexibility and predictability of surgical support. ATEC's headquarters in Carlsbad, California will continue to serve as the hub for development and shipment of alpha release products. ATEC expects to open the new distribution facility in July 2021, and to aggressively ramp up its Memphis operations over the ensuing years.
|Over a month ago|
Alphatec management to meet virtually with Piper Sandler » 09:5903/0803/08/21
Virtual Meeting to be…
Virtual Meeting to be held on March 8 hosted by Piper Sandler.
Alphatec price target raised to $19 from $16 at H.C. Wainwright » 06:1103/0503/05/21
H.C. Wainwright analyst…
H.C. Wainwright analyst Sean Lee raised the firm's price target on Alphatec to $19 from $16 and keeps a Buy rating on the shares post the Q4 results. The analyst expects "strong growth" in 2021.
Alphatec price target raised to $19 from $17 at Piper Sandler » 05:0503/0503/05/21
Piper Sandler analyst…
Piper Sandler analyst Matt O'Brien raised the firm's price target on Alphatec to $19 from $17 and reiterates an Overweight rating on the shares post the Q4 results. The company continues to capture "impressive amounts" of share in the domestic spine market despite COVID-19, with a spate of new products including its SafeOp and PTP prone technology serving to attract new clinicians to the Alphatec line of products, O'Brien tells investors in a research note. He sees the company's guidance as reflective of the strong core momentum in the business and encourages investors to maintain exposure to the name.