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

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

Analysts Set New Price Targets

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

Alphatec Stock Down 2.6 %

The firm has a market capitalization of $1.43 billion, a PE ratio of -7.76 and a beta of 1.39. The company has a quick ratio of 1.15, a current ratio of 2.32 and a debt-to-equity ratio of 30.21. The firm’s 50 day moving average price is $10.96 and its two-hundred day moving average price is $8.83.

Alphatec (NASDAQ:ATEC) last released its quarterly earnings data 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). Alphatec had a negative return on equity of 541.39% and a negative net margin of 31.06%. The firm had revenue of $176.79 million for the quarter, compared to analysts’ expectations of $172.74 million. As a group, research analysts forecast that Alphatec Holdings, Inc. will post -1.08 EPS for the current fiscal year.

Insider Transactions at Alphatec

In other news, CEO Patrick Miles sold 6,687 shares of Alphatec stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $12.00, for a total transaction of $80,244.00. Following the sale, the chief executive officer now directly owns 5,501,715 shares in the company, valued at approximately $66,020,580. The trade was a 0.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP David Sponsel sold 58,283 shares of the business’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $10.71, for a total transaction of $624,210.93. Following the completion of the sale, the executive vice president now directly owns 502,311 shares in the company, valued at approximately $5,379,750.81. This represents a 10.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 337,321 shares of company stock valued at $3,828,060 in the last ninety days. Corporate insiders own 22.80% of the company’s stock.

Hedge Funds Weigh In On Alphatec

A number of institutional investors have recently bought and sold shares of ATEC. Royal Bank of Canada raised 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 acquiring an additional 2,010,806 shares during the period. American Century Companies Inc. grew its stake in Alphatec by 36.5% during the fourth quarter. American Century Companies Inc. now owns 4,989,057 shares of the medical technology company’s stock valued at $45,800,000 after acquiring an additional 1,334,780 shares in the last quarter. Nuveen Asset Management LLC grew its stake in Alphatec by 78.4% during the fourth quarter. Nuveen Asset Management LLC now owns 2,584,996 shares of the medical technology company’s stock valued at $23,730,000 after acquiring an additional 1,136,330 shares in the last quarter. Marshall Wace LLP grew its stake in Alphatec by 139.2% during the fourth quarter. Marshall Wace LLP now owns 1,773,246 shares of the medical technology company’s stock valued at $16,278,000 after acquiring an additional 1,032,070 shares in the last quarter. Finally, Emerald Advisers LLC increased its holdings in shares of Alphatec by 112.4% in the 4th quarter. Emerald Advisers LLC now owns 1,456,033 shares of the medical technology company’s stock worth $13,366,000 after buying an additional 770,586 shares during the last quarter. 66.35% of the stock is owned by institutional investors.

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.