Alphatec (ATEC) Moves 9.1% Higher: Will This Strength Last?

Alphatec ATEC shares ended the last trading session 9.1% higher at $10.88. 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 3.6% gain over the past four weeks.Alphatec scored a strong price increase driven by the optimism surrounding the company’s announcement of preliminary results for the fourth quarter and full year 2024. The company announced that total revenue for the fourth quarter is expected to be in the range of $175.5 million and $177.0 million. Full-year 2024 is expected to be in the range of $610.3 million and $611.8 million, an increase of 27% year over year. The Zacks Consensus Estimate for the fiscal 2024 revenue suggests a growth of 25.5%. This medical equipment and supplies holding company is expected to post quarterly loss of $0.18 per share in its upcoming report, which represents a year-over-year change of +51.4%. Revenues are expected to be $170.5 million, up 23.6% 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 19.2% 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 #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Alphatec is part of the Zacks Medical - Instruments industry. DexCom DXCM, another stock in the same industry, closed the last trading session 2.7% higher at $79.84. DXCM has returned 0.7% in the past month.For DexCom, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.52. This represents a change of +4% from what the company reported a year ago. DexCom currently has a Zacks Rank of #3 (Hold).Free: 5 Stocks to Buy As Infrastructure Spending SoarsTrillions of dollars in Federal funds have been earmarked to repair and upgrade America’s infrastructure. In addition to roads and bridges, this flood of cash will pour into AI data centers, renewable energy sources and more.In, you’ll discover 5 surprising stocks positioned to profit the most from the spending spree that’s just getting started in this space.Download How to Profit from the Trillion-Dollar Infrastructure Boom absolutely free today.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Alphatec Holdings, Inc. (ATEC): Free Stock Analysis Report DexCom, Inc. (DXCM): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks