Alphatec (NASDAQ:ATEC) Trading 8.1% Higher

Shares of Alphatec Holdings, Inc. (NASDAQ:ATEC) traded up 8.1% during trading on Wednesday . The company traded as high as $11.22 and last traded at $11.19. 699,969 shares changed hands during trading, a decline of 57% from the average session volume of 1,646,881 shares. The stock had previously closed at $10.35.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Canaccord Genuity Group reiterated a “buy” rating and set a $25.00 price target on shares of Alphatec in a report on Wednesday, March 20th. HC Wainwright restated a “buy” rating and issued a $20.00 target price on shares of Alphatec in a research note on Monday, March 4th. Piper Sandler cut their target price on Alphatec from $19.00 to $17.00 and set an “overweight” rating for the company in a research note on Wednesday, May 8th. Finally, Needham & Company LLC restated a “buy” rating and issued a $23.00 target price on shares of Alphatec in a research note on Wednesday, May 8th. One investment analyst has rated the stock with a sell rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $22.89.

Alphatec Stock Up 4.2 %

The business has a 50-day simple moving average of $11.83 and a two-hundred day simple moving average of $13.53. The stock has a market capitalization of $1.51 billion, a P/E ratio of -7.39 and a beta of 1.41. The company has a quick ratio of 1.49, a current ratio of 2.39 and a debt-to-equity ratio of 13.63.

Alphatec (NASDAQ:ATEC) last announced its quarterly earnings results on Tuesday, May 7th. The medical technology company reported ($0.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.01). Alphatec had a negative net margin of 37.45% and a negative return on equity of 1,767.81%. The company had revenue of $138.48 million during the quarter, compared to the consensus estimate of $134.07 million. During the same quarter last year, the company earned ($0.40) earnings per share. The business’s revenue was up 26.9% on a year-over-year basis. Equities research analysts forecast that Alphatec Holdings, Inc. will post -1.05 earnings per share for the current fiscal year.

Insider Buying and Selling at Alphatec

In other Alphatec news, Director Evan Bakst bought 15,000 shares of the firm’s stock in a transaction dated Thursday, March 14th. The shares were bought at an average price of $13.53 per share, for a total transaction of $202,950.00. Following the completion of the acquisition, the director now owns 15,000 shares of the company’s stock, valued at $202,950. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Alphatec news, Director Evan Bakst bought 15,000 shares of the firm’s stock in a transaction dated Thursday, March 14th. The shares were bought at an average price of $13.53 per share, for a total transaction of $202,950.00. Following the completion of the acquisition, the director now owns 15,000 shares of the company’s stock, valued at $202,950. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO John Todd Koning sold 37,500 shares of the stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $12.82, for a total value of $480,750.00. Following the sale, the chief financial officer now owns 393,356 shares in the company, valued at approximately $5,042,823.92. The disclosure for this sale can be found here. Company insiders own 22.80% of the company’s stock.

Hedge Funds Weigh In On Alphatec

Large investors have recently made changes to their positions in the company. Cerity Partners LLC acquired a new position in shares of Alphatec during the fourth quarter valued at $28,451,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Alphatec by 20.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 746,781 shares of the medical technology company’s stock valued at $11,284,000 after acquiring an additional 125,488 shares during the period. Pura Vida Investments LLC acquired a new position in shares of Alphatec during the fourth quarter valued at $4,609,000. Principal Financial Group Inc. lifted its stake in shares of Alphatec by 87.1% during the fourth quarter. Principal Financial Group Inc. now owns 277,000 shares of the medical technology company’s stock valued at $4,185,000 after acquiring an additional 128,938 shares during the period. Finally, Vanguard Group Inc. lifted its stake in Alphatec by 1.8% in the third quarter. Vanguard Group Inc. now owns 4,615,223 shares of the medical technology company’s stock valued at $59,859,000 after buying an additional 80,101 shares during the period. Institutional investors and hedge funds own 66.35% of the company’s stock.

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.