Shares of Alphatec Holdings Inc (NASDAQ: ATEC) surged 5.02% in pre-market trading on Friday, following the company's impressive first-quarter results and an upward revision of its annual revenue forecast. The medical equipment manufacturer demonstrated robust growth and improved financial performance, attracting positive attention from investors and analysts alike.

Alphatec reported a strong start to 2025, with a 22% year-over-year revenue growth to $169.18 million, slightly surpassing analysts' expectations of $168.18 million. The company's surgical revenue grew by an impressive 24%, driven by a 17% increase in procedural volume and an 18% rise in surgeon adoption. Despite reporting a quarterly adjusted loss of 35 cents per share, which was wider than the expected loss of 24 cents, investors focused on the company's top-line growth and improved operational metrics.

The stock's pre-market rally was further fueled by Alphatec's decision to raise its annual revenue forecast, signaling management's confidence in the company's growth trajectory. This positive outlook, combined with a maintained "Buy" rating and a $16 price target from Needham, has bolstered investor sentiment. The consensus on Wall Street remains bullish, with 11 out of 12 analysts recommending either "Strong Buy" or "Buy," and a median 12-month price target of $19.00. As Alphatec continues to outperform the market and strengthen its position in the medical equipment sector, investors appear optimistic about the company's future prospects.