Alphatec (NASDAQ:ATEC) Trading 3.9% Higher – Here’s Why

Alphatec Holdings, Inc. (NASDAQ:ATEC)’s stock price traded up 3.9% during mid-day trading on Thursday . The stock traded as high as $9.92 and last traded at $9.91. 521,116 shares changed hands during mid-day trading, a decline of 74% from the average session volume of 1,971,084 shares. The stock had previously closed at $9.54.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on ATEC shares. HC Wainwright restated a “buy” rating and issued a $20.00 target price on shares of Alphatec in a report on Tuesday, January 14th. StockNews.com raised shares of Alphatec from a “sell” rating to a “hold” rating in a research note on Friday, February 28th. Needham & Company LLC reaffirmed a “buy” rating and issued a $16.00 target price on shares of Alphatec in a research note on Thursday, February 27th. Barclays boosted their price target on Alphatec from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. Finally, Piper Sandler raised their price objective on Alphatec from $12.00 to $13.00 and gave the stock an “overweight” rating in a report on Thursday, February 27th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Alphatec currently has a consensus rating of “Moderate Buy” and an average price target of $17.67.

Alphatec Price Performance

The business has a fifty day moving average of $10.95 and a 200 day moving average of $8.80. The company has a debt-to-equity ratio of 30.21, a current ratio of 2.32 and a quick ratio of 1.15. The stock has a market cap of $1.46 billion, a PE ratio of -7.89 and a beta of 1.39.

Alphatec (NASDAQ:ATEC) last released its earnings results on Wednesday, February 26th. The medical technology company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.04). The business had revenue of $176.79 million for the quarter, compared to analysts’ expectations of $172.74 million. Alphatec had a negative net margin of 31.06% and a negative return on equity of 541.39%. Sell-side analysts anticipate that Alphatec Holdings, Inc. will post -1.08 earnings per share for the current year.

Insider Transactions at Alphatec

In related news, EVP David Sponsel sold 33,732 shares of Alphatec stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $10.83, for a total value of $365,317.56. Following the completion of the transaction, the executive vice president now directly owns 668,977 shares in the company, valued at approximately $7,245,020.91. This trade represents a 4.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Patrick Miles sold 6,687 shares of the business’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $12.00, for a total value of $80,244.00. Following the completion of the sale, the chief executive officer now directly owns 5,501,715 shares of the company’s stock, valued at approximately $66,020,580. This represents a 0.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 337,321 shares of company stock valued at $3,828,060. Insiders own 22.80% of the company’s stock.

Institutional Investors Weigh In On Alphatec

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in Alphatec by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 5,968,980 shares of the medical technology company’s stock worth $54,795,000 after buying an additional 47,797 shares during the last quarter. American Century Companies Inc. raised its position in shares of Alphatec by 36.5% during the 4th quarter. American Century Companies Inc. now owns 4,989,057 shares of the medical technology company’s stock worth $45,800,000 after buying an additional 1,334,780 shares in the last quarter. Royal Bank of Canada lifted its position in Alphatec by 171.2% in the fourth quarter. Royal Bank of Canada now owns 3,185,283 shares of the medical technology company’s stock worth $29,240,000 after purchasing an additional 2,010,806 shares during the period. State Street Corp lifted its holdings in shares of Alphatec by 10.1% in the third quarter. State Street Corp now owns 3,138,960 shares of the medical technology company’s stock valued at $17,453,000 after buying an additional 287,350 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in shares of Alphatec by 11.3% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,928,094 shares of the medical technology company’s stock valued at $16,280,000 after purchasing an additional 297,850 shares in the last quarter. 66.35% of the stock is owned by institutional investors and hedge funds.

Alphatec Company Profile

Alphatec Holdings, Inc, a medical technology company, designs, develops, and advances technologies for the surgical treatment of spinal disorders in the United States and internationally. It manufactures and sells implants and instruments through third-party suppliers. The company offers Alpha InformatiX product platform, including EOS imaging system that provides full-body imaging; VEA alignment mobile application, which leverages EOS technology to more quickly quantify alignment parameters on a mobile device; SafeOp Neural InformatiX System that automates electromyographic and somatosensory evoked potential monitoring; and Valence, an intra-operative system that integrates navigation and robotics into spine procedures, as well as Sigma Prone TransPsoas (PTP) Access and PTP Patient Positioning Systems.