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Alphatec Holdings Inc’s stock reached a new 52-week high, closing at 20.15 USD. This milestone reflects a significant upward trend for the company, which has seen its stock price increase by an impressive 112.87% over the past year. InvestingPro data shows the medical technology firm has delivered strong returns across multiple timeframes, with a 56.71% surge over the past six months alone. The surge in value highlights growing investor confidence and interest in Alphatec’s market performance and potential future growth. While revenue has grown 27.11% over the last twelve months, InvestingPro analysis indicates the stock is currently trading above its Fair Value, with concerning valuation metrics including a Price/Book ratio of 257.05. As the company continues to innovate and expand its operations, the stock’s rise to a 52-week high underscores its momentum, though technical indicators suggest it may be entering overbought territory. For deeper insights, including 11 more ProTips and comprehensive analysis, check out the Pro Research Report available on InvestingPro.
In other recent news, Alphatec Holdings reported impressive third-quarter earnings, with revenue reaching $197 million, marking a 30% year-over-year growth. The company significantly exceeded earnings per share (EPS) expectations, reporting $0.03 against an anticipated loss of $0.04, a 175% surprise. Piper Sandler and Canaccord Genuity both raised their price targets for Alphatec to $25, reflecting confidence in the company’s performance, with Piper Sandler maintaining an Overweight rating and Canaccord Genuity a Buy rating. The strong results were driven by a 31% increase in surgical revenue and a 29% rise in EOS imaging technology revenue. Additionally, Alphatec saw nearly 30% growth in surgical volume and notable increases in both established territories and new surgeon users. In other developments, the company mourned the loss of board member Jeffrey P. Rydin, who passed away at 59 after a lengthy illness. Rydin had a distinguished career in the medical device and healthcare industries. These recent developments highlight Alphatec’s continued market share gains in the spine surgery sector.
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