Why Alphatec Holdings Stock Is Soaring Today
Shares of Alphatec Holdings (NASDAQ: ATEC) were rising sharply on Thursday after the company released preliminary third-quarter results on Wednesday evening. The holding company's stock was up by 27.9% as of 12:34 p.m. EDT today, after rising by as much as 37.4% earlier in the day.
For the third quarter, Alphatec Holdings expects its total revenue to come in between $40.7 million and $41.1 million, which would represent a year-over-year increase of roughly 40% at the midpoint. The company's third-quarter revenue is also set to come in ahead of the $30.98 million analysts were expecting on average. The medical device company derives the bulk of its revenue from its U.S. operations.
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Source Fool.com
