NasdaqGS:ATEC

Stock Analysis Report

Executive Summary

Alphatec Holdings, Inc., a medical technology company, designs, develops, and markets products for the surgical treatment of spine disorders.

Snowflake

Fundamentals

Reasonable growth potential with imperfect balance sheet.

Risks

  • Alphatec Holdings has significant price volatility in the past 3 months.

Similar Companies

Share Price & News

How has Alphatec Holdings's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

7.0%

NasdaqGS:ATEC

1.5%

US Medical Equipment

0.8%

US Market


1 Year Return

67.3%

NasdaqGS:ATEC

9.7%

US Medical Equipment

1.9%

US Market

ATEC outperformed the Medical Equipment industry which returned 9.6% over the past year.

ATEC outperformed the Market in United States of America which returned 2.1% over the past year.


Share holder returns

ATECIndustryMarket
7 Day7.0%1.5%0.8%
30 Day-11.0%0.7%3.4%
90 Day26.0%2.4%2.1%
1 Year67.3%67.3%10.6%9.7%4.2%1.9%
3 Year-22.5%-22.5%70.2%65.0%46.7%37.2%
5 Year-73.7%-73.7%136.0%109.1%62.3%44.5%

Price Volatility Vs. Market

How volatile is Alphatec Holdings's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Alphatec Holdings undervalued based on future cash flows and its price relative to the stock market?

18.47x

Price to Book (PB) ratio


Intrinsic Value Based on Future Cash Flows

Unable to calculate intrinsic value for Alphatec Holdings to establish if it is available at moderate discount.

Unable to calculate intrinsic value for Alphatec Holdings to establish if it is available at substantial discount.


Price Based on Earnings

Alphatec Holdings is loss making, we can't compare its value to the US Medical Equipment industry average.

Alphatec Holdings is loss making, we can't compare the value of its earnings to the United States of America market.


Price Based on Expected Growth

Unable to calculate PEG ratio for Alphatec Holdings, we can't assess if its growth is good value.


Price Based on Value of Assets

Alphatec Holdings is overvalued based on assets compared to the US Medical Equipment industry average.


Next Steps

Future Growth

How is Alphatec Holdings expected to perform in the next 1 to 3 years based on estimates from 4 analysts?

57.7%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

Alphatec Holdings's revenue is expected to grow by 18.2% yearly, however this is not considered high growth (20% yearly).

Alphatec Holdings's earnings are expected to grow significantly at over 20% yearly.

Alphatec Holdings's revenue growth is expected to exceed the United States of America market average.

Alphatec Holdings's earnings growth is expected to exceed the United States of America market average.

Alphatec Holdings's earnings growth is expected to exceed the low risk savings rate of 2.7%.


Earnings per Share Growth Estimates


Future Return on Equity

Unable to establish if Alphatec Holdings will efficiently use shareholders’ funds in the future without estimates of Return on Equity.


Next Steps

Past Performance

How has Alphatec Holdings performed over the past 5 years?

22.0%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Alphatec Holdings does not make a profit even though their year on year earnings growth rate was positive over the past 5 years.

Unable to compare Alphatec Holdings's 1-year earnings growth to the 5-year average as it is not currently profitable.

Unable to compare Alphatec Holdings's 1-year growth to the US Medical Equipment industry average as it is not currently profitable.


Return on Equity

It is difficult to establish if Alphatec Holdings has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.


Return on Assets

It is difficult to establish if Alphatec Holdings has efficiently used its assets last year compared to the US Medical Equipment industry average (Return on Assets) as it is loss-making.


Return on Capital Employed

It is difficult to establish if Alphatec Holdings improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.


Next Steps

Financial Health

How is Alphatec Holdings's financial position?


Financial Position Analysis

Alphatec Holdings is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.

Alphatec Holdings's cash and other short term assets cover its long term commitments.


Debt to Equity History and Analysis

Alphatec Holdings's level of debt (131.5%) compared to net worth is high (greater than 40%).

The level of debt compared to net worth has increased over the past 5 years (40.1% vs 131.5% today).


Balance Sheet

High level of physical assets or inventory.

Debt is covered by short term assets, assets are 1.5x debt.


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Alphatec Holdings has less than a year of cash runway based on current free cash flow.

Alphatec Holdings has less than a year of cash runway if free cash flow continues to grow at historical rates of 39.8% each year.


Next Steps

Dividend

What is Alphatec Holdings's current dividend yield, its reliability and sustainability?


Dividend Yield and Payments Analysis

Unable to evaluate Alphatec Holdings's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.

Unable to evaluate Alphatec Holdings's dividend against the top 25% market benchmark as the company has not reported any payouts.

Unable to perform a dividend volatility check as Alphatec Holdings has not reported any payouts.

Unable to verify if Alphatec Holdings's dividend has been increasing as the company has not reported any payouts.


Current Payout to Shareholders

Unable to calculate sustainability of dividends as Alphatec Holdings has not reported any payouts.


Future Payout to Shareholders

Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.


Next Steps

Management

What is the CEO of Alphatec Holdings's salary, the management and board of directors tenure and is there insider trading?

1.5yrs

Average management tenure


CEO

Pat Miles (53yo)

1.5yrs

Tenure

US$3,176,253

Compensation

Mr. Patrick S. Miles, also known as Pat, has been an Executive Chairman of Alphatec Holdings, Inc since October 1, 2017 and its Chief Executive Officer since March 06, 2018 and also serves as its President ...


CEO Compensation Analysis

Pat's remuneration is higher than average for companies of similar size in United States of America.

Pat's compensation has been consistent with company performance over the past year, both up more than 20%.


Management Age and Tenure

1.5yrs

Average Tenure

50yo

Average Age

The average tenure for the Alphatec Holdings management team is less than 2 years, this suggests a new team.


Board Age and Tenure

4.4yrs

Average Tenure

66yo

Average Age

The tenure for the Alphatec Holdings board of directors is about average.


Insider Trading

No 3 month open market individual insider trading information.


Recent Insider Transactions

BuyUS$9,89014 Mar 19
Donald Williams
EntityIndividual
Role
Member of the Board of Directors
Director
Shares4,000
Max PriceUS$2.47
BuyUS$258,93013 Mar 19
Kelli Howell
EntityIndividual
Role
Senior Key Executive
Executive Vice President of Clinical Strategies
Shares100,000
Max PriceUS$2.59
BuyUS$53,21713 Mar 19
Evan Bakst
EntityIndividual
Shares20,566
Max PriceUS$2.59

Ownership Breakdown


Management Team

  • Pat Miles (53yo)

    Executive Chairman

    • Tenure: 1.5yrs
    • Compensation: US$3.18m
  • Jeff Black (50yo)

    Executive VP & CFO

    • Tenure: 2.5yrs
    • Compensation: US$926.93k
  • Craig Hunsaker (55yo)

    Executive VP of People & Culture

    • Tenure: 2.5yrs
    • Compensation: US$1.00m
  • Luiz Pimenta

    Chief Medical Officer

    • Tenure: 1.5yrs
  • Mark Ojeda

    Executive Vice President of Cervical & Biologics

    • Tenure: 1yrs
  • Jon Allen (59yo)

    Executive Vice President of Commercial Operations

    • Tenure: 2.8yrs
  • Brian Snider (41yo)

    Executive Vice President of Marketing & Development

    • Tenure: 2.5yrs
  • Kelli Howell (45yo)

    Executive Vice President of Clinical Strategies

    • Tenure: 1.5yrs
  • Dave Sponsel (40yo)

    Executive Vice President of Sales

    • Tenure: 0.4yrs
  • Eric Dasso

    Executive Vice President of Adjunctive Technologies

    • Tenure: 0.08yrs

Board Members

  • Ward Woods (76yo)

    Director

    • Tenure: 1.9yrs
    • Compensation: US$154.10k
  • Tim Berkowitz (66yo)

    Lead Director

    • Tenure: 1.9yrs
  • Stephen Hochschuler (76yo)

    Chairman of Scientific Advisory Board

    • Tenure: 13.9yrs
    • Compensation: US$42.42k
  • Pat Miles (53yo)

    Executive Chairman

    • Tenure: 1.5yrs
    • Compensation: US$3.18m
  • James Yue

    Member of Scientific Advisory Board

    • Tenure: 0yrs
  • Frank Phillips

    Member of Scientific Advisory Board

    • Tenure: 0yrs
  • Frank Eismont

    Member of Scientific Advisory Board

    • Tenure: 0yrs
  • Bret Abshire

    Member of Scientific Advisory Board

    • Tenure: 13yrs
  • J. Johnson

    Member of Scientific Advisory Board

    • Tenure: 12.6yrs
  • Don Williams (60yo)

    Director

    • Tenure: 4.4yrs
    • Compensation: US$92.87k

Company Information

Alphatec Holdings, Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Alphatec Holdings, Inc.
  • Ticker: ATEC
  • Exchange: NasdaqGS
  • Founded: 1990
  • Industry: Health Care Equipment
  • Sector: Healthcare
  • Market Cap: US$332.264m
  • Shares outstanding: 60.19m
  • Website: https://www.atecspine.com

Number of Employees


Location

  • Alphatec Holdings, Inc.
  • 5818 El Camino Real
  • Carlsbad
  • California
  • 92008
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
ATECNasdaqGS (Nasdaq Global Select)YesCommon SharesUSUSDJun 2006
L1Z1DB (Deutsche Boerse AG)YesCommon SharesDEEURJun 2006

Biography

Alphatec Holdings, Inc., a medical technology company, designs, develops, and markets products for the surgical treatment of spine disorders. The company offers MIS products consisting of Battalion Lateral ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/09/18 00:22
End of Day Share Price2019/09/17 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.